The message the General's giving on their earnings is that the NorAm operational net losses were only $46 million, an amount Rick Wagoner said this morning live on CNBC was "essentially breaking even." OK, that's a total load of crap — especially considering the automaker has sold more cars globally during the first quarter than ever before. Given that, one would assume they'd have to find a way to actually sell some cars here in NorAm to make some money — instead of producing 192,000 less — or else have a gameplan to when they're going to do that via their ever-running turnaround effort. But although Phil LeBeau's only sort of buying that spin, the bigger story is the little jam-up he may have just caused on Jefferson Avenue downtown a few minutes ago. As you can see, us Detroiters love CNBC so much we're willing to risk getting smashed up in order to gawk at pundits on the street live in front of a camera. And that's why I always talk indoors — less risk of injury to my fellow Metro Detroiters. I'm just trying to do my part.

GM's CEO Says North American Operations Can Be Profitable [CNBC.com]

Related:
The Official Car Pundit Drinking Game; No Way Of The Day: GM Records First Quarter...Profits?! [internal]