Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

10/31/2012 (3 years ago)

Catholic Online (

Company reports more profits, and improvements on the way.

General Motors has some good news for everyone, as the company's shares rose Wednesday on predictions of stronger profits and improved performance around the globe. South America posted exceptionally large profits for the company, while improvements in Europe look promising.

General Motors expects the European unit to improve and become profitable within the next few years.

General Motors expects the European unit to improve and become profitable within the next few years.


By Catholic Online (NEWS CONSORTIUM)

Catholic Online (

10/31/2012 (3 years ago)

Published in Business & Economics

Keywords: General Motors, GM, cars, autos, Europe, South America, sales, shares

LOS ANGELES, CA (Catholic Online) - General Motors (GM) says they earned $1.48 billion from July through September of this year. The amount is down from $1.73 billion last year, but the company says the outlook is improving. 
South America had a particularly good sales season, turning around from a loss of $44 million last year to a profit of $114 million this year. 

Europe and North America continue to be weak spots for the automotive giant but GM says they have taken steps to improve the situation there. Operations in Europe have since been optimized with about 2,600 employees retiring or leaving the company and new savings of up to $300 million between workforce reductions and product line cuts. 

The company says more cuts may happen if needed, depending on sales. 

Investors are happy that GM is resolved to fix some of its problems and is now enjoying a healthier outlook. As a result, investor confidence in the company has grown.

The company's shares were up to $24.89 in early morning trading on Wednesday. 

General Motors also intends to bring new, more appealing vehicles and products to market, particularly in Europe, which remains a soft spot for the company. Although GM is predicting losses in Europe for next year, the outlook is improving with those losses projected to minimize, then turn to profits within the next three years. 

The company isn't simply looking at cost reductions either. Added to the cost cuts are reduced inventory, and new leadership. Some 23 new models of vehicles and 13 new engines will be on the market by 2016.

Certainly, not all of GM's troubles in Europe can be blamed on the company's product line and management. Europe has endured the worst recession since the end of World War II, and the markets are soft as people try to stretch their money. 

Governments are also buying fewer vehicles as they struggle with national debts that must be brought under control. 

Despite European austerity, GM is still projecting a return to profitability in the region by 2016. 

Outside of Europe, the outlook is much better and overall GM is expected to remain profitable for some time to come, making investors, and workers alike, very happy. 


Pope Francis: end world hunger through 'Prayer and Action'

Copywriter 2015 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2015
That human trafficking, the modern form of slavery, may be eradicated.
Evangelization: That with a missionary spirit the Christian communities of Asia may announce the Gospel to those who are still awaiting it.


More Business & Economics

Three BILLION barrels of excess oil available now - but is this a good thing? Watch

Image of Inflated inventories and oil wealth has spread globally, from the United States to the developed economies of Europe, and now China, according to the agency.


With the price of gas comfortably lower than $3 a gallon at many gas pumps across the land, consumers are enjoying a price break. The reason behind this windfall is largely because there are now more than three billion barrels of excess oil in the world. This ... continue reading

HARD NEWS HEADED FOR EXTINCTION! Filters turning off certain information imperil journalism Watch

Image of Daily newspapers have gone from nearly 1,800 in 1945 to about 400.


Newspapers, along with print media in general is in rapid decline - while Internet news, groomed and curried for special interest groups is on the rise. The fallout is that hard news, presented objectively is in dire threat of virtual extinction. "Opinion ... continue reading

The 'WAR ON CHRISTMAS' continues as Starbucks' new seasonal cups spark public outrage Watch

Image of Starbucks is the center of a mass controversy when it decided to release plain red cups this holiday season instead of its traditional Christmas and general holiday-themed cups (Rozzieland blogs).


When coffee giant Starbucks released red cups in place of their traditionally holiday-themed cups this winter, Arizona-based evangelist Joshua Feuerstein cried bigotry. LOS ANGELES, CA (Catholic Online) - In a Facebook video rant, Feuerstein wrote, "I think in the age ... continue reading

Pretty much all you could ask for from the month of October - unemployment at five percent, new hires Watch

Image of The 271,000 jump in payroll was surprisingly robust, far better than the Labor Department expected last week.


"It was pretty much everything you could ask for in a jobs report," Michelle Meyer, deputy head of United States economics at Bank of America Merrill Lynch says. Unemployment was at five percent and there were significant job hires for the month of October. ... continue reading

Invest as a Catholic - without selling your soul! Watch

Image of

By Kevin Jones (CNA News)

For Catholics who want to invest in a retirement plan but hesitate for fear of unintentionally supporting causes contradicting their faith, a financial advisor group is now offering a new option. Washington D.C. (CNA) - "We'd like to see every Catholic organization ... continue reading

SOMETHING IS BREWING: Agreement could lead to biggest beer deal - and top five business deals EVER Watch

Image of The prevailing trend among younger beer drinkers is for smaller, more specialized labels from independent breweries. In response, bigger beer brands are struggling to hold on to their market share.


Something big is brewing in the world of brew. AB InBev or Budweiser is offering SABMiller shareholders $67.59 per share. The maker of Miller Lite, Pilsner Urquell and Peroni, this represents a premium of roughly 50 percent over the share price. The agreement, ... continue reading

Overworked Wall Street employees experience seizures, are hospitalized, and have died Watch

Image of John Hughes in Thomas' bedroom (Damon Winter).


Wall Street has always been a very demanding place to work and with recent work-related deaths, it seems that Wall Street must find a way to provide work-life balance to its employees.  NEW YORK CITY, NY (Catholic Online) - Thomas Hughes was a 29-year-old ... continue reading

7 ways to bring your family out of debt Watch

Image of


There are a lot of ways the improper handling of finances can jeopardize you and your family. The cost-of-living continues to get higher yet your income doesn't. How can you make ends meet? LOS ANGELES, CA (Catholic Online) - Fear not! You can regain control of your ... continue reading

3 easy ways to save money and pay off debt Watch

Image of


Work and play, earn and spend -It's the way the economy survives, but what about your survival? If you're having trouble saving money, don't have a dedicated savings account or just don't know how to stop spending, you may have a problem. LOS ANGELES, CA (Catholic ... continue reading

Is the stock market in trouble? Historical market turndowns following papal visits Watch

Image of Papal visits versus the stock market were reviewed.


As Pope Francis visits the United States, historical data of visits from his predecessors to the United States were linked to several market downturns in the US. MUNTINLUPA CITY, PHILIPPINES (Catholic Online) - Pope Francis made his historical visit to the United ... continue reading

All Business & Economics News


Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • Daily Readings for Tuesday, December 01, 2015
  • Parents' Prayer For Their Children HD Video
  • You won't believe what happened to this pair of infant twins!
  • Shocking propaganda clip from ISIS mimics popular video game - with ...
  • Prayer For Faith HD Video
  • Pope Francis orders sweeping audit of the Vatican
  • St. Eligius: Saint of the Day for Tuesday, December 01, 2015

Daily Readings

Reading 1, Isaiah 11:1-10
1 A shoot will spring from the stock of Jesse, a new shoot will grow from ... Read More

Psalm, Psalms 72:1, 7-8, 12-13, 17
1 [Of Solomon] God, endow the king with your own fair judgement, the son ... Read More

Gospel, Luke 10:21-24
21 Just at this time, filled with joy by the Holy Spirit, he said, 'I ... Read More

Saint of the Day

Saint of the Day for December 1st, 2015 Image

St. Eligius
December 1: Eligius (also known as Eloi) was born around 590 ... Read More