Automaker says it still sees a chance of achieving profitability in 2010
DETROIT - General Motors Co. says it lost $4.3 billion in the last half of 2009 as it struggled to emerge from bankruptcy protection, repay government loans and cope with a severe downturn in U.S. sales.
However, the automaker says it still sees a chance of being profitable in 2010.
GM's results aren't comparable to prior years. They only measure the period from July 10, when GM emerged from bankruptcy protection after shedding billions in debt, through Dec. 31. GM said it earned $109 million in the period from Jan. 1 to July 9, under old accounting.
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4 comments:
And yet even with the Government witch hunt to destroy Toyota they remain profitable. Private sector versus Public sector.
"GM owes an additional $45.3 billion to the government. That will be repaid when GM makes a public stock offering, which Liddell says will happen "when the markets and the company are ready.""
Math error? How can you achieve profitability in 2010 when you still own $45B of debt?
Obama propping up the Union s
Did i just hear a toilet flush?
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