GM Records Its Highest Profit Ever: $7.6 Billion


gmGeneral Motors (GM) earned its highest profit ever last year. The 103-year-old company made $7.6 billion in 2011, up 62 percent from 2010.

Full-year revenue rose 11 percent to $105 billion.

North America led the way with a $7.2 billion pretax profit. But problems surfaced that could hurt future earnings: GM lost $700 million before taxes in Europe, and lost $100 million in South America.

GM’S fourth-quarter profit was flat with 2010. GM earned $500 million, or 28 cents per share. Revenue rose 3 percent to $38 billion. Before one-time items, GM earned 40 cents per share

GM plans to freeze salaried workers’ pensions

Analysts expected earnings of 42 cents on revenue of $37.9 billion.

The company says union workers will get $7,000 profit-sharing checks.

{The Associated Press/ Newscenter}


  1. They make the highest profits ever and freeze salaried workers’ pensions. Union workers, however, will share in the company’s good fortune by getting profit-sharing checks.

    Looks like having a union to fight for you is good for your pocket-book. GM has to share its mountain of cash with some of the people who helped make it.

    Is this maybe why some rich businessmen don’t like unions?