This has to be very disappointing for Republicans.
The quarterly profit reported on Thursday marked G.M.’s strongest financial performance since 2004, and set the stage for the automaker to file for an initial public offering, possible as soon as Friday. It was G.M.’s second consecutive quarterly profit.
The automaker’s results were a marked improvement over the $865 million profit in the first quarter. Revenue also rose in the quarter, to $33.2 billion, from $31.5 billion in the first. G.M. did not report second-quarter results a year ago because it spend part of the period reorganizing under bankruptcy protection.
The second-quarter profit was driven by strong results in G.M.’s core North American business, which had lost money for several years leading up to its bankruptcy filing.
G.M. said it had earnings before interest and taxes of $1.6 billion in North America during the quarter, a 33 percent improvement over its first quarter performance.
I saw a guy on The Ed Show complaining that G.M. is expanding its business in Mexico instead of creating jobs here in the States. I agree with creating jobs here first, but saving the domestic auto industry saved millions of jobs and the entire way of life of people in Michigan. With G.M. showing big profits in its North America division, we should expect job growth here at home.
