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DETROIT (Reuters) - General Motors Co (GM.UL) posted a first-quarter profit on Monday and said it is making progress toward a turnaround expected to put it on track toward its first full-year profit since 2004.
GM, which received $50 billion of U.S. government financing for its restructuring in bankruptcy, has been aiming to launch an initial public offering that would allow the U.S. government to reduce its majority stake in the automaker later this year.
GM ended the first quarter with $35.7 billion in cash and marketable securities, including funds in escrow.
Originally posted by mike_trivisonno
I know I will not be buying GM or Chrysler cars ever again.
Next auto I purchase will be a Ford.
Originally posted by xxcalbier
o great lets drill baby drill so you can have your powerfull v8.
what oil rigs exploding o well as long as i HAVE MY V8.
lets lower the cost of gas back to a dollor wow i could have had a v8.
man only v8 left should be trucks and you should need a contractors licence to own one and it can ONLY be used for work no beer runs .
heck as bad as things are even 6 cylinders should be out lawed .
Hummers show the arrogance of people they know the world is being poisend and there kids will have to live in the filth they made but go one doing it anyway .
I want NOW GIVE IT TO ME . drill baby drill burn slash kill baby kill.
the day is comeing sooner then you think when all that will be left is kill baby kill .
the good news is after all the killing is done earth can start over and creat the very first intelligent life form. any life form that would kill its self isn't intelligent.
DRILL BABY DRILL
Originally posted by prionace glauca
Looks like GM isn't sinking in the RED anymore. They posted a small profit in the first quarter, any profit is a good sign.
Revenue rose to $31.48 billion from $22.43 billion in the pre-bankruptcy GM a year before. Net income -- after preferred stock dividends of $203 million to the U.S. and Canadian governments and GM's major union -- was $865 million