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September 5th, 2012
10:27 PM ET
CNN Reality Check: Pres. Obama saved the auto industry
CNN's Erin Burnett and Tom Foreman address the Democratic claim that President Barack Obama saved the auto industry.
CNN's Erin Burnett and Tom Foreman address the Democratic claim that President Barack Obama saved the auto industry.
"GM's Q3 beats the street at 0.93 EPS vs. 0.60 estimated." Also looks like Ford "achieved its highest quarterly profit and operating margin since at least 2000."
Also, thanks for the lead on the automakers. After David Einhorn announced the long position on GM yesterday, suddenly all the other true believers started piling into it, too. Of course there's no crystal ball for this sort of thing, but all the standard metrics check out & I'm cautiously optimistic.
Come to think of it, both Ford & GM are looking like pretty good deals. Heck, Ford's Price-to-earnings is only a little over 2x and it looks like their sales in China were up 39%.