GM May Turn a Profit This Year
By Chris Weiss
GM’s new CFO Chris Liddell has told press that the automaker may actually be profitable this year. No promises, but it’s looking partly sunny. The company is also considering launching an initial public offering of stock later this year.
Lidell, who has been working in his post for seven weeks, said: “The financial organization here is not as bad as what was characterized. I’m not going to say it’s perfect and can’t be improved. All I can say is, the people I’ve inherited, who report to me, I think are actually very good. These situations are never as good or as bad as they look from the outside.”
Liddell is viewed as a potential replacement for CEO Ed Whitacre, and if he can help rally GM out of its financial apocalypse, he certainly should be. [via Detroit News]
