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GM: a sick company finally getting better?
In its first financial report since emerging from bankruptcy protection, General Motors says that it lost $4.3 billion in the last six months of 2009, though it also had a positive cash flow of $1 billion in that period. Excluding one-time charges such as a settlement with the United Automobile Workers union, the company's chief financial officer says it was only $600 million away from breaking even, and that GM expects to make a profit in 2010. Will the automaker be back in the black by the end of the year?
In its first financial report since emerging from bankruptcy protection, General Motors says that it lost $4.3 billion in the last six months of 2009, though it also had a positive cash flow of $1 billion in that period. Excluding one-time charges such as a settlement with the United Automobile Workers union, the company's chief financial officer says it was only $600 million away from breaking even, and that GM expects to make a profit in 2010. Will the automaker be back in the black by the end of the year?
Guest:
James Bell, Vice President and Executive Market Analyst with Kelley Blue Book, formerly of Intelle-choice. And President of the Motor Press Guild.