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G.M. Reports an Annual Profit, Its First Since 2004
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| Parent(s) |
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| Contributor | RP |
| Last Edited | RP Feb 24, 2011 11:06am |
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| Category | Report |
| Author | NICK BUNKLEY |
| Media | Newspaper - New York Times |
| News Date | Thursday, February 24, 2011 05:00:00 PM UTC0:0 |
| Description | General Motors, which nearly collapsed from the weight of its debts two years ago before reorganizing in a government-sponsored bankruptcy, said Thursday that it earned $4.7 billion in 2010, the most in more than a decade.
It was the first profitable year since 2004 for G.M., which became publicly traded in November, ending a streak of losses totaling about $90 billion.
In addition, G.M. said 45,000 union workers would receive profit-sharing checks averaging $4,300, the most in the company’s history. |
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