Detroit Free Press "Black ink is fashionable at GM again."

[muntrv]

Black ink is fashionable again at General Motors
BY TOM WALSH
FREE PRESS COLUMNIST

Black ink is back at General Motors.

Everybody say hallelujah.

We were not sure we'd be able to speak those words again, after $88 billion in losses since 2005, a bankruptcy and another $50 billion in taxpayer support to prop up the invalid that was once the world's mightiest industrial company.
So go ahead, say them. Savor them.
Black ink is back. GM is profitable once more.
Plenty of worries remain about the future -- more on that later -- but let's revel for now in GM's numbers for the first three months of 2010:
• A net profit of $865 million. That's a $4.4-billion turnaround from the final quarter of 2009 and nearly $7 billion better than the $6 billion quarterly loss of a year ago.
• A $1.2-billion operating profit, before interest and taxes, from selling cars and trucks in North America. GM made more money at home than in the red-hot markets of Asia, more than offsetting a $506-million loss in Europe. Overall GM pretax profits were $1 billion higher than those predicted Friday in a J.P. Morgan Chase report.


SEE MORE AT LINK BELOW
http://www.freep.com/article/20100518/COL06/5180366/Black-ink-is-back-at-General-Motors

[safeinOhio]

1. Looks like the government is

doing a great job of running the company.:sarcasm:

[TampaAnimus2010]

2. I dont buy this for a second..

If they were losing money during the boom economy, how can they be making profits when were in a downturn? They are getting propped up somewhere.

[safeinOhio]

4. Of course it is true

In his attempt to take over all American private business and micromanage it the President is very successful. :sarcasm:
Even Ford is doing it now.

[greencharlie]

3. if someone adds bailout $$ to a budget... there may be a surplus? nt