General Motors posts $4.3B loss

General Motors posted a $4.3 billion loss for the second half of 2009 but could be profitable this year, the company announced Wednesday.

"As the results for 2009 show, there is still significant work to be done," said Chris Liddell, vice chairman and chief financial officer. "However, I continue to believe we have a chance of achieving profitability in 2010."

The United States, which last year invested $50 billion in the rescue of the company, owns 61 percent of the automaker. Whether it can recoup most of its investment depends on the automaker's return to profitability.

Read Full Article from Washington Post

- Posted: 2010-04-07 10:37:20

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