Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

10/31/2012 (2 years ago)

Catholic Online (www.catholic.org)

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.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

10/31/2012 (2 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 June 2015
Universal:
That immigrants and refugees may find welcome and respect in the countries to which they come.
Evangelization: That the personal encounter with Jesus may arouse in many young people the desire to offer their own lives in priesthood or consecrated life.


Rosaries, Crosses, Prayer Cards and more... by Catholic Shopping .com


Comments


More Business & Economics

'Enough with all the rules' firework industry calls out to Obama Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

This year, more states have allowed people to buy pyrotechnic materials, such as sparklers and Roman Candles. In fact, this year has been wonderful for fireworks manufacturers, since the projected 2015 sales of celebratory explosives are estimated to top $1 billion. ... continue reading


Whole Foods accused of greatly overcharging customers Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

Whole Foods, the American foods supermarket chain that specializes in organic goods, has been accused of massive overcharging. The New York City Department of Consumer Affairs explained they have discovered "systematic overcharging for pre-packaged foods" at the city's ... continue reading


Strange and powerful 'boat swallowing' vortex appears in Lake Texoma Watch

Image of

By Nikky Andres (NEWS CONSORTIUM)

A strange, giant vortex, estimated to be around 8-feet in diameter, has appeared in Lake Texoma. This occurrence is surprising and perhaps threatening. However, there is an explanation. MUNTUNLUPA, PHILIPPINES (Catholic Online) - Lake Texoma is known as one of the ... continue reading


Is it time to stash money under mattress? 'It's time to hold physical cash,' fund manager says Watch

Image of Ian Spreadbury declined to predict the exact trigger but said it was more likely to happen in the next five years rather than 10.

By Catholic Online (NEWS CONSORTIUM)

Is it time to cash your paycheck and then stick it into a hatbox for a rainy day? According to British fund manager Ian Spreadbury, who invests more than £4 billion of investors' money is gravely concerned that a "systemic event" could rock markets. The upset ... continue reading


In spite of strong showing, Ron Paul predicts Apocalypse on Wall Street Watch

Image of Ron Paul has predicted economic doomsday previously. As stocks continue to make new highs, he remains just as convicted as ever that there

By Catholic Online (NEWS CONSORTIUM)

Things seem to be on an even keel right now but according to former Representative Ron Paul, the Federal Reserve's easy money policies have left stocks and bonds are on the verge of a massive collapse. LOS ANGELES, CA (Catholic Online) - "I am utterly amazed at ... continue reading


The U.S. public is asked - Which woman do YOU want to see on the new $10 bill? Watch

Image of The new $10 bill will also include a

By Catholic Online (NEWS CONSORTIUM)

It's a question being posed to the American public... which American woman do they want to see on the new $10 bill? The revamped $10 bill will go into effect in the year 2020. U.S. Treasury Secretary Jack Lew wants the next generation of U.S. currency to ... continue reading


Who gave them the right to freeze the national debt? Watch

Image of Treasury Secretary Jacob Lew sent a letter to House Speaker John Boehner and other congressional leaders in March that informed them that he was planning to declare a

By Catholic Online (NEWS CONSORTIUM)

There is such a thing as taking a "bull by the horns," but one wonders who granted them this extraordinary power. Treasury Secretary Jacob Lew sent a letter to House Speaker John Boehner and other congressional leaders in March that informed them that he was ... continue reading


Denied for faith: Arizona man allegedly rejected from job for being an 'obese Christian' Watch

Image of

By Talia Ramos (NEWS CONSORTIUM)

After being rejected from a job at a web hosting company, a man received an email that allegedly had an attachment where he learned the reasons why he wasn't accepted. According to his statements, he was rejected because of his faith and his weight, as stated in the ... continue reading


'We're in for a huge change in society,' billionaire Cartier owner declares Watch

Image of Nicknamed

By Catholic Online (NEWS CONSORTIUM)

Johann Rupert, the executive chair of luxury brand company Richemont in South Africa has a sobering view of the future. Making billions peddling Cartier jewelry and Chloe fashion, Rupert says that the tension between the rich and poor is set to escalate as ... continue reading


14 years after 9/11, One World Trade Center lacks the bustle of the old Twin Towers Watch

Image of The new One World Trade Center lacks the bustle of the old, with a third of its office space remaining empty.

By Matt Waterson (NEWS CONSORTIUM)

Following the aftermath of the September 2001 attacks in New York, Larry Silverstein, the property developer who had bought the lease to the World Trade Center for more than $3 billion, vowed he would rebuild. LOS ANGELES, CA (Catholic Online) - Almost a decade ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

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

Daily Readings

Reading 1, Genesis 22:1-19
1 It happened some time later that God put Abraham to ... Read More

Psalm, Psalms 115:1-2, 3-4, 5-6, 8-9
1 Not to us, Yahweh, not to us, but to your name give ... Read More

Gospel, Matthew 9:1-8
1 He got back in the boat, crossed the water and came ... Read More

Saint of the Day

Saint of the Day for July 2nd, 2015 Image

St. Bernardino Realino
July 2: St. Bernardino Realino was born into a noble family of Capri, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter