General Motors reported profit after bankruptcy
The company received $49.5 billion in federal help to fund its operations in 2009, when private sector money was scarce and there were doubts about the company’s survival; the moves allowed the company to be far more profitable even though sales levels are still below pre-recession levels. All the major U.S. automakers are again hiring, and further job gains are forecast in the coming years.
NEW YORK (CNNMoney) — General Motors reported a record annual profit Thursday, just two years after the nation’s largest automaker emerged from bankruptcy with the help of a federal bailout.
With rivals Ford Motor (F, Fortune 500) … Continue Reading
