GM still not out of the poo
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Every 3 months public companies in the USA submit financial details to the regulators - the 10-Q
This includes a balance sheet (which I can understand) and a profit and loss (which I could not make comparative sense of)
Because of different levels of summarisation in the 10-Qs I looked at, this is the best level of detail I can show
the news (bearing in mind that I may be misunderstanding the 10-Q)
GM Assets 136,046,000,000
GM Liabilities (-) 191,640,000,000
GM net -55,594,000,000
Ford Assets 200,190,000,000
Ford Liabilities (-) 209,608,000,000
Ford net - 9,418,000,000
So, GM is almost 6 times worse off than Ford
An improvement on 9 months ago ... but we should expect no less, they got rid of the worst parts
Especially seeing that Ford seem to have made a profit of about 2,261,000,000, and GM a loss or about 19,537,000,000 ...
I (IMHO) conclude that GM is not out of the poo, neither is Ford - but Ford remains in a significantly better position.
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