GM to report "solid" Q1 operating results: memo

[boomerbust]

Source: reuters

DETROIT (Reuters) - General Motors Co expects to report "solid" operating results for the first quarter, which will show progress toward its goal of returning to profitability in 2010, Chief Executive Ed Whitacre said on Monday.

A potential profit this year would end a five-year streak of losses and mark a turnaround for the U.S. automaker, which emerged from a U.S. government-financed bankruptcy in July after slashing debt and labor costs.

Whitacre, who replaced Fritz Henderson as CEO in December, has aimed to move faster to jump-start sales and launch an initial public offering that would allow the U.S. government to reduce its majority stake in GM.

"In January, I said we could earn a profit in 2010, if everything falls into place," Whitacre said in a memo to staff, which was obtained by Reuters.



Read more: http://news.moneycentral.msn.com/ticker/article.aspx?Feed=OBR&Date=20100412&ID=11380140&Symbol=F

[safeinOhio]

1. All that socialist micromanagement working.

all of those one and a half cylinder cars they build that no one wants to buy.
How are they going to spin this one?

[DCBob]

2. Someone needs to dig up all the old clips of the GOP failmongers insisting GM would collapse..

no matter how much money we loaned them.

[Omaha Steve]

3. Obama's fix worked!

:-)

[Abq_Sarah]

4. With the amount of debt

They were allowed to kiss off, I would hope they'd regain profitability.