GM Comes Through With A Vengeance

Posted: March 14, 2007 at 6:51 am

GM needed to prove to Wall St. that its cost cuts were working. It did so in spades.

The big auto company reported a fourth quarter profit of $950 million, after a loss of $6.6 billion in the same period a year ago. Revenue fell slightly to $51.2 billion due to the sale of GMAC.

The company also said its was on track to have total expense cuts of $9 billion a year.

Douglas A. McIntyre

Read more: Autos
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