GM BAILOUT WORKED AND WORKED.
GM posts record profit 2 years after bankruptcy
By Chris Isidore@CNNMoneyFebruary 16, 2012:
The federal assistance probably saved about 1.5 million jobs, according to an estimate from the Center for Automotive Research, and prevented GM, Chrysler and many U.S. parts suppliers from being forced out of business, which would have been a huge blow for tax revenue. All the major U.S. automakers are again hiring, and further job gains are forecast in the coming years.
GM posts record earnings for 2011 - Feb. 16, 2012
GM workers receive record bonuses
Updated: Friday, 17 Feb 2012,
GM earned a record $7.6 billion in 2011. Despite the record profit, critics say we shouldn't forget that just a couple of years ago about $50 billion of taxpayer money was spent to save GM from bankruptcy. Nearly half of the money has been recovered.
Thursday they announced, 47,500 blue collar workers, many who took pay cuts because of the bailout, would be getting a $7,000 profit sharing check.
GM workers receive record bonuses | WIVB.com
G.E. made record 14.2 billion profit in 2010 and claimed a tax benefit of 3.2billion.
G.E. made record 14.2 billion profit in 2010 and claimed a tax benefit of 3.2billion. - Sherdog Mixed Martial Arts Forums
Many of the nation's preeminent companies have posted massive increases in profits this year. General Electric posted worldwide profits of $14.2 billion, while profits at JPMorgan Chase were up 47 percent to $4.8 billion.
Corporate Profits At All-Time High As Recovery Stumbles