In similar fashion of Citi's CEO, GM announced today that they have realized the first profitable quarter in years minus the costs of actually making the vehicle.
In an open letter to its employees, Rick Wagoner declared that GM has instituted new accounting standards and that less certain expenses such as operating costs, salaries, benefits, and materials, General Motors is a "money making machine". Wagoner further notes that "with the adoption of a new form of accounting, we can now finally get this recovery of General Motors and all of America underway".
General Motors could not be reached for additional comment.
Disclaimer: This entire article was created for the sole purpose of satire and is in no way representative of actual statements of General Motors or its CEO Rick Wagoner. In no way is this intended to serve as investment advice for as such the author is not qualified to give. For investment advice, see an authorized broker, attorney, CPA, or flip a coin.