GM workers to receive profit-sharing checks of up to $12000

08 February, 2017, 00:55 | Author: Essie Rivera
  • Keep an Eye on These 12 Stocks for

Inventories of unsold vehicles at its US dealers rose by one-third to 845,000 vehicles at the end of 2016. GM's operating profit on a per-share basis was $6.12, up 22% from 2015. The fourth-quarter results included a currency-related impact of about $300 million from Brexit, the United Kingdom's planned exit from the European Union, according to a statement.

For all of 2016, GM's profit margins and revenue climbed to a post-bankruptcy record. The company posted record earnings per share of $6 for the year, revenue of $166.4 billion and North American adjusted pre-tax earnings of $12 billion.

The stock tumbled 4.7 percent in early trading in part because Wall Street fretted over GM's higher US inventories.

General Motors Co.'s fourth quarter net income fell 71% amid foreign-exchange headwinds and a non-recurrence of one-time gains recorded a year ago, but strong pickup-truck and SUV sales in the US carried the company to its second straight record operating profit for the full year. He said executives are hopeful that GM could finally break even in Europe in 2018.

The company forecast a 2017 profit and operating profit of $6 to $6.50 a share.

Did Ivanka Trump Kill The President's Anti-LGBT Executive Order?
Kushner - a 36-year-old Orthodox Jew who is married to Trump's daughter Ivanka - serves as a senior adviser to the president. It's unclear whether there is any kind of broader "religious freedom" executive order still coming.

China's manufacturing sector continues to improve
Detailed within the report, the domestic market was a "prime" source of new business, whilst exports reported a modest increase. Manufacturers have responded with an increase in selling prices, which may in turn begin to drive consumer price inflation.

Business owner who claimed mom died because of ban lied
He believes his mother would have survived if she had been able to return to her home and seek treatment, Fox 2 said. He was allowed to pass, but his mother and family members, all green card holders , were denied access.

Stevens said earnings in 2017 would be flat or up slightly from 2016, driven by more big numbers in North America.

Looking ahead, Stevens said a potential border adjustment tax from the Trump administration was "still too complex" to parse, but that GM was eager to lend the president a hand "to ensure that the outcome is beneficial".

"Solid results in the fourth quarter capped another record year of earnings and beat the commitments we outlined for 2016", said GM chief financial officer Chuck Stevens. GM's Tonawanda engine plant has about 1,500 hourly workers; it wasn't immediately known how many of those workers were eligible for profit-sharing checks.

The stock was higher in premarket trade, but reversed course in early trading, and were down $1.72 to $35.10.

Recommended:

  • "Dripping" may expose users to toxic chemicals

    Sixty-four per cent of the teens admitted they tried dripping to get thicker clouds of vapour so they could pull off smoke tricks. They come just two months after the US surgeon general called e-cigarettes a public health threat for youths.
    Trump Signs 'New Vetting Measures' to Guard Against Terror

    Trump Signs 'New Vetting Measures' to Guard Against Terror

    The visa waiver program allows citizens from 38 countries to enter the United States without a visa for up to 90 days. There's an exemption for immigrants and legal permanent residents whose entry is in the USA national interest.
    PS4 Firmware 4.50 Will Bring External Hard Drive Support and More

    PS4 Firmware 4.50 Will Bring External Hard Drive Support and More

    Also custom wallpapers , quick menu refresh , PlayStation Network social status updates, and 3D Blu-ray support for PSVR . Starting today, selected beta users will be able to get an early look at the most important additions of Firmware 4.50.
  • USA  army told to pave way for disputed Dakota pipeline

    USA army told to pave way for disputed Dakota pipeline

    Highway 1806 river bridge directly adjacent to where hundreds remain camped in opposition to the pipeline construction. Army Corps of Engineers says it will install rapid-deployable, mobile gauges on the river near Solen and on the N.D.

    Auto insurance crash test results weren't what Tesla and BMW wanted

    This Sept. 20, 2016, photo provided by the Insurance Institute for Highway Safety shows a 2017 BMW i3 before crash safety testing. The group recently gave the Chevy Volt and Toyota Prius Prime its top scores, Top Safety Pick Plus, to the two plug in hybrids.

    Amazon to move Prime Air cargo hub to Cincinnati

    Matt Bevin played a key role in the deal by sitting in meetings with Amazon officials to craft a state incentive package. Amazon .com, Inc. has a lease agreement for 40 cargo planes. 2,000 of these jobs will be at the hub in Kentucky.
  • Israel Passes Bill That Retroactively Legalizes Jewish Settlements

    Israel Passes Bill That Retroactively Legalizes Jewish Settlements

    The apparent message to settlers: Go ahead and establish your outposts anywhere you want on Palestinian land. In parliament on Monday, Shuli Mualem of the Jewish Home dedicated the law to the people evicted from Amona.
    Vincent Viola, Trump's Nominee for Secretary of the Army, Withdraws

    Vincent Viola, Trump's Nominee for Secretary of the Army, Withdraws

    On their own, the Violas' top runners include Grade 1 winners Photo Call and Sweet Loretta and Grade 2 victor Nonna Mela. The Military Times is reporting he withdrew due to his inability to separate himself from his business ties.

    Go Red to support women's heart health during February

    Indianapolis firefighters are expected to participate as well as past winners of the American Heart Association's "Real people". Volunteers knitted the red hats themselves and have delivered them to metropolitan hospitals for the babies to wear.
  • Marine Le Pen launches French presidency bid: What is she promising?

    Marine Le Pen launches French presidency bid: What is she promising?

    She, however, said that she would try to negotiate new terms for France and if she fails in that she would go for the referendum. Le Pen hardened her view on the former topic, cheered by militants screaming " this is our country ".
    Homeland Security chief wants border wall built in two years

    Homeland Security chief wants border wall built in two years

    He also laid out a rough timeline for the massive project, saying he hoped the wall would be completed within the next two years. When he got a cold call from the Trump transition team, Kelly and his wife had no reservations.
    Senate Committee Confirms EPA Administrator Without Democratic Support

    Senate Committee Confirms EPA Administrator Without Democratic Support

    No Republican has come out against his nomination, though the vast majority of Democrats are likely to oppose him. Democrats boycotted a hearing to vote on Pruitt's nomination yesterday .


Popular

Gilead 2017 hepatitis C sales forecast disappoints, shares drop
Gilead Sciences makes up approx 0.06% of Vigilant Capital Management's portfolio. (NASDAQ:GILD) opened at 72.39 on Tuesday. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need.

Oil Exports Boost Canada's Second Straight Monthly Trade Surplus
Imports increased 1.0 percent on higher imports of aircraft and other transportation equipment as well as metal products. One area of concern remains non-energy exports, which were down 2.1 percent in December.

USG Corporation (NYSE:USG), Twenty-First Century Fox, Inc. (NASDAQ:FOXA)
AAPL saw its price target raised to $154 from $142 at Canaccord Genuity, representing record-high territory for the shares. Dai Ichi Life Holdings Inc. increased its stake in shares of Twenty-First Century Fox by 16.9% in the third quarter.

North Carolina's 'Bathroom Bill' May Cost Them Sports Tourism Revenue, Again
The NCAA and Atlantic Coast Conference relocated several events this academic year because of HB2. Democrats said they objected to a moratorium on local ordinances.

Trump taps Mike Pence to lead panel investigating mass voter fraud
In an interview with Fox News this weekend, Trump also maintained that he has "respect" for Russian President Vladimir Putin. McConnell and other GOP leaders agree there is voter fraud but not on the scale claimed by Trump.

Why black history matters: Trump's awkward teaching moment
Meyers and one of the show's writers, Amber Ruffin , were on top of Trump's Black History Month speech. I'm proud to honor this heritage and will be honoring it more and more.

Australian PM says not sure how many refugees United States will accept
Mr Turnbull said he was disappointed details of the call, which he described as "very frank and forthright", had been made public. The Australian PM said despite Trump's tweet on Wednesday, the United States officials were already assessing the issue.

Hudson's Bay reportedly approaches Macy's about a takeover
For Hudson's Bay , which runs more than 480 stores around the world, buying Macy's would be a splashy way of expanding in the U.S. Department store sales suffered in the latest holiday season as shoppers increased the number of items they bought online.

Republican senators won't support DeVos nomination
Assuming all other Republicans vote for DeVos and all Democrats vote against, that means the vote breakdown is now tied at 50-50. Despite this, Trump announced on November 23 that Betsy DeVos would be his choice for Secretary of Education.

Sean Spicer Says US Citizens Won't Be Targeted in Anti-Terror Efforts
Anwar Al-Awalki, a US-born cleric who directed attacks against the USA , was killed in a targeted drone strike in 2011. Yemeni security forces killed an Al-Qaeda leader in the province of Lahj during a raid on Tuesday, police said.