As its hometown of Flint remains poisoned, GM makes record 2015 profit
Thursday, February 4, 2016 10:32
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General Motors announced yesterday that it made a record $11 billion in pre-tax profits in 2015. The Detroit-based auto giant, the third largest auto company in the world, made $6.3 billion in profits in the fourth quarter alone, beating Wall Street expectations.
Once again, GM made the bulk of its income from its North American manufacturing operations, where the corporation’s decades long cost cutting campaign, carried out with the full backing of the United Auto Workers, was accelerated during and after the 2009 restructuring of the company by the Obama administration.
