GM Announces Profits

31 July 2007

Continued from yesterday’s post regarding Ford’s profits (first time
in two years), we have the announcement from GM that they have now had
3 quarters of profits in a row! Go America!

Nay-sayers will talk about GM’s revenue being down, but keep your
focus on the big picture. The auto industry in the United States
appears to be turning around. It’s not all rosey glasses, it’s still a
fight, but these are still good signs.

To give you that “Bizarro World” feeling, GMAC (the lending arm of GM)
profits are down due to the problems we’re seeing in the mortgage
market with an increase in foreclosures. A good reminder that to turn
the economy around (truly, not the politico version) we still have
work to do.

The
News

CarKing

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