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GM Turnaround Begins as Automaker Starts Repaying Government Aid
SUGAR LAND--November 20, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--It has only been a few short months since General Motors Corporation (GM) (Detroit, Michigan) emerged from bankruptcy protection. GM is now mostly owned by the federal government, has received billions in federal aid, and is in the process of getting rid of inefficiencies and reorganizing to return to profitability. This turnaround process began unexpectedly early as GM reported a smaller than expected quarterly loss earlier this week. GM lost $1.2 billion in the fiscal quarter immediately after emerging from bankruptcy, a significant improvement from previous quarters, indicating that the automaker has been making the right moves.
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Industry Segment: Automotive
Word Count: 708 Words
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