The New General Motors Is Taking on the World
So I shopped and did a careful search. In my best version of an "orange-to-orange" fair market comparison I settled on a car manufactured by the Buick division of GeneralMotors
Dollar-for-dollar I felt the irresistible urge to purchase a Buick La Crosse and I've been happy with my choice ever since. To see what it looks like here's a photo that speaks for itself .
When I'm driving my Buick I'm reminded that this isn't the old GM I've purchased but the new one. I also own an older Park Avenue model that I've driven for years so you might say I'm a "veteran."
Even the company calls itself "the New General Motors" and you can see the determination and the wave of passion GM is riding when you visit its web site.
GM has recreated itself with a lofty vision to build and sell the best quality autos in the world. The company currently builds and sells nearly 10 million vehicles worldwide.
Amazingly, its No. 1 market is China, not the U.S. which is No. 2. GM's trailing 12 month revenue is nearly $153 billion. In the most recent quarter ending June 30 its total cash tallied close to $26 billion.
This is almost as much as the $26.75 billion total debt it has on its books. GM's balance sheet is looking healthier with every passing year since that ominous moment in 2008 when it filed for Chapter 11 bankruptcy.
The U.S government bought up a large percentage of GM stock early on thus enabling the company to reorganize. It did so in late 2010 and has been determined to buy back shares from Uncle Sam.
As of last count the federal government still owns around 16% of the outstanding shares. That's great news for the United Auto Workers Retiree Medical Benefits Trust which owns more than 140 million shares.