GM: Profitable for Most of the Last 20 Years

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2:56 PM, Aug 18, 2011 • By JONATHAN V. LAST

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Just to close the loop on President Obama’s claim that GM is “now making a profit for the first time in decades,” reader D.B. sent along GM profit-loss statements from 1990 to 2000. The tally: GM had mounting net losses in 1990, 1991, and 1992. In 1993 they turned things around, posting a net profit of 2.4B. They remained solidly in the black for the next 11 years, only falling back in the hole in 2005.