From the INTERNATIONAL BUSINESS TIMES:
General Motors Co. has posted its best annual profit, which jumped 62 percent to $7.6 billion, beating expectations and breaking records two years after it nearly collapsed into bankruptcy.
The profits appeared to provide further evidence of the success of President Barack Obama‘s controversial bailout for GM and Chrysler. GM has repaid $24.1 billion of the $49.5 billion in government aid it received. The repayments include the proceeds from the automaker’s public stock offering…..
GM chairman and chief executive Dan Akerson welcomed the result. “We grew the top and bottom lines, advanced our global market share and made strategic investments in our brands around the world,” Akerson said in a statement…
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