General Motors Announces First-Quarter Profit
LYNN NEARY, host:
NPR's business news starts with profits at General Motors.
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NEARY: GM is showing black ink for the first time in three years. The automaker says it earned a profit of 865 million for the first quarter of the year. That's quite a difference from the $6 billion it lost last year at this time. Behind the improving picture are stronger car sales, as well as cost-cutting from layoffs, factory closings and debt reduction.
GM's CEO, Ed Whitacre, expects the full year to be profitable. He's also aiming this year to pay back the $50 billion GM borrowed from the government during the financial crisis.
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