General Motors Hits $865 Million Profit in First Quarter

Posted May 17, 2010

General Motors has hit $865 million in the first quarter of this year that ended in March. This is the company’s first quarterly profit in nearly 3 years. During the same period last year, GM reported a $6 billion loss. General Motors was given a life-line when the government gave them $50 billion to stay in business. GM repaid $6.7 billion of he loan so far and hopes to pay a lot more back with a stock sale. The U.S. government owns 61% of GM. [Lansing State Journal]