GM Probably Had Operating Profit; May Ease Pressure on Wagoner

General Motors Corp. Chief Executive Officer Rick Wagoner, under pressure from billionaire Kirk Kerkorian for better results, may win some breathing room by reporting a second-quarter operating profit on job cuts and higher sales of sport-utility vehicles.

GM, the world's largest automaker, tomorrow will announce a profit of 80 cents a share, not counting an estimated $3.8 billion charge for employee buyouts, according to JP Morgan Securities analyst Himanshu Patel, ranked among the most accurate on the company by StarMine Corp. The average estimate of 15 analysts surveyed by Thomson Financial is 52 cents. A year earlier, GM lost 41 cents a share excluding one-time costs.


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kart1 - 7/25/2006 1:10:48 PM

+1 Boost

Great how about making profits based on sales of cars too. SUV's are not going down the drain with the high gas prices around. Until they can profits off of selling cars they are still in bad shape.