Union workers get profit-sharing checks as G.M. posts first annual profit since 2004
from Daily Kos by rss@dailykos.com (Jed Lewison)NY Times:
DETROIT - General Motors, which nearly collapsed from the weight of its debts two years ago before reorganizing in a government-sponsored bankruptcy, said Thursday that it earned $4.7 billion in 2010, the most in more than a decade.
It was the first profitable year since 2004 for G.M., which became publicly traded in November, ending a streak of losses totaling about $90 billion.
In addition, G.M. said 45,000 union workers would receive profit-sharing checks averaging $4,300, the most in the company's history.
Guess who said this sort of turn around would be impossible? That's right, none other than John Boehner, in June of 2009
from Daily Kos by rss@dailykos.com (Jed Lewison)NY Times:
DETROIT - General Motors, which nearly collapsed from the weight of its debts two years ago before reorganizing in a government-sponsored bankruptcy, said Thursday that it earned $4.7 billion in 2010, the most in more than a decade.
It was the first profitable year since 2004 for G.M., which became publicly traded in November, ending a streak of losses totaling about $90 billion.
In addition, G.M. said 45,000 union workers would receive profit-sharing checks averaging $4,300, the most in the company's history.
Guess who said this sort of turn around would be impossible? That's right, none other than John Boehner, in June of 2009
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