Wednesday, April 27, 2011

General Motors

I really think that GM in Detroit doesn't need much publicity, as we all know GM as a gigantic automaker, and we all know what happened in 2008, when it all broke down and they made a movie: The Last Truck: Closing of a GM Plant, but what is going on at GM now in a more or less abandoned Detroit?

So an update from Wikipedia:
On February 24, 2011, General Motors reported its first full-year profit since 2004. The automaker suffered $103.7 billion in losses from 2005 through 2009. It avoids paying taxes on the $4.7 billion it earned in 2010, and on future profits for years to come, because of a favorable government ruling in 2010 on previous losses. The Wall Street Journal estimated the tax break, including credits for costs related to pensions and other expenses, can be worth as much as $45 billion over the next 20 years.

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