After benefiting from billions of US government TARP money, in the heat of the last financial crisis that rocked America starting in 2008, GM is now thinking about going public, shedding its new image a government owned corporation.
GM officials said that though two quarters of profits is not a trend but it is certainly the possible start of one, especially given where the company was a year ago, facing financial challenges.
GM said that it is still losing money in Europe but recovery signs are encouraging and they are laying the foundation for profitability, partly by taking as lot of costs out of the equation. The company is also making upgrades and other enhancements allowing them to get a price premium on their products.
General Motors was given the nickname, Government Motors because of the majority-shares owned by the US federal government, in return for the billions provided in loans. Now senior executives are forecasting a solid performance of profitability by the end of 2010.