Monday, November 5, 2012

General Motors gets is Ass Handed to It

So...have you heard President Obama on the campaign trail touting his "saving" of General Motors, Inc?  He likes to say that it is the #1 car maker.  Well, it's not.  That would be Toyota.
TOKYO: Toyota’s quarterly profit tripled, driven by a recovery from natural disasters, and the company raised its full-year earnings forecast Monday despite a sales slump in China.
Toyota Motor Corp., on track to regain the crown of world’s No. 1 automaker this year, reported a July-September net profit of 257.9 billion yen ($3.2 billion) compared with an 80.4 billion profit a year earlier. The result was better than the 238 billion yen ($3 billion) quarterly profit forecast by analysts surveyed by FactSet.
Japan’s top automaker raised its profit forecast for the full fiscal year through March 2013 to 780 billion yen ($9.8 billion) from 760 billion yen ($9.5 billion).
Food for thought...General Motors didn't have to deal with devastation to it's physical plants due to a huge Tsunami.  Toyota did, and they still kicked GM in the last fiscal quarter.  Shocking that our President would...oh, I don't know...lie.

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