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  • Not vetted for CNN

  • Posted May 8, 2011 by
    ireporttwo
    Assignment
    Assignment
    This iReport is part of an assignment:
    U.S. government is 'open for business'

    More from ireporttwo

    GM highest profits in a decade. Helped by demand of fuel efficient cars.

     

    The bailout has helped this company! Good job!

     

     

     

     

     

     

     

    From the article

     

    GM's quarterly net income is more than triple the $865 million it earned in the first quarter of last year. It's also a good sign for the U.S. government, which is hoping the profit boosts GM's stock price so it can sell its stake in the company and recoup more of the $50 billion taxpayer bailout that saved GM two years ago.

     

    GM's first-quarter performance continues its remarkable turnaround after emerging from bankruptcy protection in 2009. The company lost more than $80 billion in the five years before the bankruptcy.

     

    http://www.cbsnews.com/stories/2011/05/05/ap/business/main20060198.shtml

     

     

     

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