May 17, 2010

EVEN THE BAD USES OF TARP WILL TURN A PROFIT FOR TAXPAYERS:

GM rides cost cuts, new-model sales to 1Q profit (Dee-Ann Durbin and Tom Krisher, 5/17/10, ASSOCIATED PRESS)

General Motors Co. rode expense cuts from its bankruptcy and strong sales of redesigned models to its first quarterly net income in nearly three years.

The $865 million first-quarter profit is a dramatic reversal from the huge $6 billion loss in the similar period last year. The last time the company made a quarterly profit was the second quarter of 2007, when it earned $891 million.


Posted by Orrin Judd at May 17, 2010 10:23 AM
blog comments powered by Disqus
« TAMP 'EM UP SOLID: | Main | WHAT MAY BE PERMISSIBLE FOR AN UNDERDOG...: »