General Motors has officially announced earnings for its first full year of business after its emergence from bankruptcy. The automaker brought in $135.6 billion in revenue with a net income of $4.7 billion, which marks GM's first profit since 2004. Additionally, that profit was the largest for The General since 1999. Previously, GM had racked up $100 billion in losses, most of which were stuck to the secured bondholders so that the Obama administration and the UAW could have their undeserved $.
So will the General make it? Yeah, they will. They are building better cars, and have streamlined the business. Personally, I would have kept Pontiac and made GMC a commercial-only brand, but maybe that's just me. However, life is hard, and because the market is down, and because the street was looking for more, GM is currently down 6%. Make sense? Not really.
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