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GM's strides not enough

Despite a historic new labor agreement, a garage full of new products and $9 billion in cost-cutting over the last two years, General Motors' release of its worst-ever annual financial results Tuesday shows that its North America division is still struggling to post the profits that Wall Street expects, according to The Detroit Free Press.

GM Chief Financial Officer Fritz Henderson acknowledged "there are still a number of near-term challenges," but overall he seemed positive about the progress GM has been making.

Posted by Peter C. T. Elsworth  at 11:43 AM to GM | Permalink

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