Well, I'm not a "GM Moron long", but I would be happy to comment. While it's true that operating income is as you say, did you read far enough to see that this was reversed at the net income line (a net income of +$6.1 billion). It is how GAAP procedures dictate you account for a write off of Goodwill, something I would have thought you would have been happy about, you've been complaining about it forever. Since you aren't as dumb as some on this board, my conclusion is that you are trying to mislead those who agree with your point of view (most of them are easily misled).
C'mon Web, this is beneath you. Try to at least give the appearance of balance.
I have not got the report yet. I've read the press releases. But these people bidding up this stock on the basis of last quarter having 'higher earnings' than 4Q11 need to compare FY11 with FY12 instead to get a much better picture.
The thing nobody likes to admit is, if GM ever does turn into a company that makes a nice profit, the UAW will pounce on them like a chicken on a Junebug and see to it that, no matter what, investors do not get anything but scraps. As one poster said the other day, at GM, management and the union always seem to come before investors when it comes to dividing the pie. THIS HAS NOT CHANGED, apparently. I just saw a small article saying the workers were getting checks of up to ($6750, I believe it was). WHAT?!!