General Motors Reports Record 2011 Profits and Profit Sharing Program
What happened
In February 2012, General Motors reported record profits of $7.6 billion for 2011. The company also announced that 47,500 blue collar workers in the U.S. would receive profit-sharing checks of approximately $7,000 apiece. Daniel Akerson, Chairman and CEO of General Motors, stated that the Obama administration helped the company recover from bankruptcy.
From newsbusters.org
Why it matters
The financial recovery of General Motors was highlighted alongside other economic indicators, including home construction increasing by one and a half percent and the number of Americans filing for unemployment benefits reaching a four-year low.
From newsbusters.org
Who's involved
- General MotorsGeneral Motors reported record profits and announced a profit-sharing program for its workers.
- Daniel AkersonDaniel Akerson served as the Chairman and CEO of General Motors.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ChevroletSpeculative
Chevrolet might see increased sales demand due to General Motors' record profits and profit-sharing program.
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The entities involved
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General Motors
Polish subsidary of General Motors
Nothing else this week.
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Detroit
city in and county seat of Wayne County, and largest city in State of Michigan, United States