To the Point
GM's Balance Sheet in the Black
In 2009, General Motors lost $21 billion before it declared bankruptcy. Last year, for the first time since 2004, GM turned a profit of $4.7 billion. Even after today's announcement the bailout of General Motors remains one of the most controversial actions of the Obama Administration. Did the government bailout save the day?
By Warren Olney • • 1 min readIn 2009, General Motors lost $21 billion before it declared bankruptcy. Last year, for the first time since 2004, GM turned a profit of $4.7 billion. Even after today's announcement the bailout of General Motors remains one of the most controversial actions of the Obama Administration. Did the government bailout save the day? Will taxpayers get their money back? We ask Jerry Hirsch who covers the auto industry for the Los Angeles Times.
