Life In My Head

Still think Detroit's going bankrupt? Check out GM's killer numbers

shortformblog:

• $4.7 billion General Motors’ posted earnings for the 2010 fiscal year
• $7.6 billion General Motors’ posted earnings for the 2011 fiscal year source

» What a record to break! One year removed from bankruptcy, American automaker General Motors posted record-setting earnings for the 2011 fiscal year. In recent weeks/months many investors worried that GM’s overseas operations would drag down the company’s year-end totals.

GM lost a total of $747 million in European markets, with $562 million of the losses occurring in the fourth quarter alone. In South America, where the company reported $818 million in earnings for 2010, GM reported a net loss of $122 million. However, not only did the company defy global expectations, GM managed to break its former $6.7 billion earnings record, set in 1996.

Detroit != GM. Just saying…

(Source: shortformblog, via reagan-was-a-horrible-president)

Tagged: Detroit is still a corrupt hell hole,