April 7, 2010

EVEN THE BAD TARP INVESTMENTS WILL MAKE US MONEY:

General Motors moves closer to recovery with 'chance' at profits (Mark Trumbull, 4/07/10, CS Monitor)

Next steps include repaying Treasury loans by June, earning actual profits, and returning to shareholder ownership with a public offering of stock. For now, the company is owned mostly by its rescuers, the US and Canadian governments.

“We are building the foundation that will allow us to return to public ownership,” said Chris Liddell, GM's chief financial officer, in a statement Wednesday. "There is still significant work to be done," he added. "However, I continue to believe we have a chance of achieving profitability in 2010."

GM is making faster progress than was expected when the government rescue was put in place, Obama administration officials have said.

The strides come as many other bailed-out firms – from some banks to insurer AIG – also appear to be recovering faster than expected.

Posted by Orrin Judd at April 7, 2010 6:11 PM
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