General Motors isn't happy that it's five-percent operating margin is less than the predicted seven-percent at Ford or the 10 percent at Hyundai. To boost its number, Bloomberg reports that GM has hired consulting firm Hackett Group to identify areas in which it can save on white-collar costs, either through job cuts or efficiencies. Unlike in 2009, howeve
General Motors has officially announced earnings for its first full year of business after its emergence from bankruptcy. The automaker brought in $135.6 billion in revenue with a net income of $4.7 billion, which marks GM's first profit since 2004. Additionally, that profit was the largest for The General since 1999. Previously, GM had racked up $100 billion in losses.
General Motors posted its last financial report before the company's initial public offering of stock next week. In it, the company reported that in the third quarter of 2010, it earned a net income of $1.96 billion on a total of $34.06 billion in revenue. That puts the automaker's 2010 figures at $4.16 billion of net income on $98.17 billion in revenue, though GM does say th
General Motors reported its second straight quarter of profitability this morning, something it hasn't done in many years. In fact, the first half of 2010 has been the automaker's best since 2004. In the April–June quarter, GM earned net profits of $1.3 billion on revenues of $33.2 billion. That works out to a fairly healthy $2.55 per share in earnings and follows up the first quarter nicely when the company earned $31.5 billion in
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Dang, it looks like everyone will have to dream up a new way to insult the four-door Cobalt. GM's Bob Lutz has announced that sales to fleet companies will be curtailed to the tune of 100,000 vehicles this year. The reduction is part of an ongoing effort to boost the resale value of General Motors cars. Reducing sales to fleet customers opens the door for some other automaker to deal with the stigma and doesn't ding the bottom line as much as it would seem.