By Jake Simpson
The latest financial news from the beleaguered auto industry appears grim at first glance. Hampered by a $2.6 billion payment to its union, General Motors reported a $4.3 billion loss in the second half of 2009. Though CFO Chris Liddell noted the loss included a large one-time payment, he admitted that right now GM is deep in the red.
Despite the multibillion dollar loss, business bloggers agreed with Liddell’s claim that the company had “a chance of achieving profitably” in 2010. Continuing a trend of optimism towards American automakers (while Toyota continues to take heat from the government), many leading financial blogs viewed GM’s filings through a hopeful lens.
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