Sneakers55
Champion Author
Houston
Posts:43,346
Points:1,712,105
Joined:Nov 2005
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Message Posted: Sep 12, 2010 8:59:36 PM
northeast2 wrote:
>There has always been a bad smell to accounting's goodwill practices.
A few years ago, we had a visit from the CEO at work. He took questions from the audience.
Somebody questioned him about the amount of goodwill on the books. His reply was that it put a value on the amount of know-how that our acquisitions had accumulated over the years.
My question was that the Annual Meeting had been at a number of sites, why not ours? After all, we have the best stuff to show off! He commented that it's a possibility. That said, his successors have seen no reason to go on the road. Make the stockholders and unions come to us.
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granitestater
Champion Author
New Hampshire
Posts:6,309
Points:1,017,395
Joined:Oct 2008
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Message Posted: Sep 10, 2010 10:41:55 PM
Obama needed to save the Unions...magic money.
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playtimeCLE
Champion Author
Cleveland
Posts:5,906
Points:1,092,475
Joined:Nov 2008
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Message Posted: Sep 10, 2010 10:00:54 PM
Pease on earth & goodwill to GM...
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teafortwo
Champion Author
Washington
Posts:15,335
Points:923,215
Joined:Feb 2009
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Message Posted: Sep 10, 2010 9:26:52 PM
OMG ....
Sadly I laughed. Thanks for sharing DirtDauber.
It would have been funnier if it was not so pathetic.
And true.
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VanIsleRover
All-Star Author
British Columbia
Posts:930
Points:325,520
Joined:Apr 2010
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Message Posted: Sep 10, 2010 8:48:44 PM
GM made good vehicles.
I like our GM Sierra truck.
We bought it new, on the Prairies.. MB
Dirt and gravel roads.
Here the sea air hasn't really corroded it.
It's been good for nearly 11 years. Only just now showing a bit of rust over the rear wheel panel.
THEN, along came foreign stuff.
Corruption, seedy deals.
All in the name of $$$$$
Bit like BP, isn't it?
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northeast2
Champion Author
New York
Posts:2,671
Points:752,030
Joined:Mar 2008
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Message Posted: Sep 10, 2010 7:50:59 PM
There has always been a bad smell to accounting's goodwill practices.
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alterman156
Champion Author
New York
Posts:5,085
Points:1,090,850
Joined:Dec 2008
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Message Posted: Sep 10, 2010 5:57:29 PM
It is interesting how GM can make $30,000,000,000 come out of thin air.
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DerHahn
Champion Author
Illinois
Posts:11,147
Points:1,654,015
Joined:May 2004
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Message Posted: Sep 10, 2010 5:13:05 PM
looks like a bunch of shady salesman twist to me. i don't beleive anything coming out of gm management.
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SBlouch
Champion Author
San Antonio
Posts:6,891
Points:1,471,855
Joined:Apr 2007
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Message Posted: Sep 10, 2010 4:42:28 PM
I do not buy what GM is saying. Its like they just pulled $30 Billion out of there top hat in a little over a year from declaring bankruptcy and getting a taxpayer bailout.
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Jeff1944
Champion Author
South Dakota
Posts:3,088
Points:678,560
Joined:Jan 2010
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Message Posted: Sep 10, 2010 4:27:39 PM
Goodwill is earned. I would hope the auditors from the accounting firm would discount the preposterous goodwill amount.
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ziyulu
Champion Author
Oklahoma City
Posts:6,108
Points:1,160,725
Joined:Aug 2007
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Message Posted: Sep 10, 2010 3:27:19 PM
DirtDauber, please post more to the article. Don't just put your own words.
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Night Owl
Champion Author
Toronto
Posts:5,265
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Message Posted: Sep 10, 2010 2:00:57 PM
The title here is wrong. It's not $30, it $30 billion. There's a big difference!!
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Road-Runner
Champion Author
Denver
Posts:6,045
Points:1,701,720
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Message Posted: Sep 10, 2010 1:18:41 PM
GM's "goodwill" got up and went long ago. We should all be so lucky.
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POLELANE
Champion Author
Ohio
Posts:7,148
Points:828,370
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Message Posted: Sep 10, 2010 12:42:42 PM
in for a buck; in for a billion; ever since BO, we think in trillions.
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afghaned
Champion Author
Hamilton
Posts:8,502
Points:821,700
Joined:May 2004
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Message Posted: Sep 10, 2010 12:37:09 PM
Did one of the execs pull the $30 from his top right drawer??? Title of the article is wrong.
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Mooseman1
Champion Author
Manitoba
Posts:7,301
Points:1,380,245
Joined:Jul 2007
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Message Posted: Sep 10, 2010 11:06:17 AM
The title should read How GM made 30 Billion appear from thin air. There is a big difference.
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kag2010
Champion Author
Winnipeg
Posts:2,894
Points:561,410
Joined:Apr 2010
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Message Posted: Sep 10, 2010 10:39:24 AM
ya so what..
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tarheelcoastie
Champion Author
Greensboro
Posts:3,008
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Joined:Jan 2009
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Message Posted: Sep 10, 2010 10:24:26 AM
I would love to know how their Goodwill is computed - is it a per capita amount for each longtime customer or simply what any banker bribed by them will say!
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vandamme
Champion Author
New York
Posts:1,018
Points:117,800
Joined:Nov 2008
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Message Posted: Sep 10, 2010 10:19:21 AM
I wouldn't give $30 for GM's goodwill.
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