GM posts its highest profit ever: $7.6 billion

[dellinger63]

Originally Posted by jms62

Yes. They lost 10 billion or 10 million a day over the 3 years they held this stock … BUT … they saved 1 million immediate jobs and countless related jobs (parts suppliers, driver and other services) and kept a huge crater from developing in the economy at a time when we could least absorb it. Those million jobs also bought goods and services of other companies no doubt saving additional jobs. It is unbalanced to say they/we lost 10 billion. The revenue from those jobs and sales that were saved went to the Fed via taxes.

It's also unbalanced to say 1 million jobs would have been lost. America still needs cars/trucks. Whether they be GM or some other make, they all need part suppliers delivery drivers, and other services.

Demand remains the same whether there is a GM or not.