Another thought, supor:
Right now, GM is paying basically zero Federal Income Taxes and their 1Q profits are still NOT all that impressive. Obama's boys saw to it they got $42B in tax forgiveness added to their books. In my opinion, it was an illegal contravention of the US Internal Revenue Service since the entity that really earned those tax offsets no longer existed (Old GM).
This will not last forever. At some point GM will have to pay income taxes like other companies that did not help Obama get elected.
<<<Found it in the 2010 cash flow. They combined cash contributions to pensions and OPEB in the same line. The $4 billion must be part of that.>>>
Good detective work!
I notice Web has decided not to comment on this alarming cash loss any further. I wonder why?
"The Apple example is a reasonable one. It doesn't mean he's comparing GM's financial situation to Apple, as I'm sure you know."
I'm glad not everyone misunderstood. But, Webby does like to pick a fight...
I'll concede your point--my cash phrasing didn't match my intent which was really the sum of cash + equivalents + marketable securities, and the change thereof over the past 2 years as a new company.
<<<They put in about $7 billion, but I believe it was all stock. I didn't see any cash committed to the pension fund.>>>
This AP report says they put 4 billion in cash in the plans in December 2010.
<<<...We don't all do an extensive analysis of a company's financials before we post in here...>>>
Come on MAllen!
Web was using GM balance sheet numbers! Believe me, he knows enough to have looked at the rest of the asset section to find the missing cash!
Total assets are UP! Total liabilities are DOWN! Even the hated "Goodwill" number is DOWN! It's not that hard to read! You can do it and Web darn well could too! Do you really believe Web thought they flushed 20 billion down the toilet even as they're reporting profits?