YOUNGSTOWN, Ohio -- General Motors, written off for nearly dead in 2005, says it is firmly on the comeback road thanks to the successful launch of new products and a painful reorganization program.
"At the end of the day, we will have the biggest turnaround in American corporate history," Mike Jackson, GM vice president for vehicle marketing and advertising, said yesterday at a media roundtable.
Earlier this month, GM posted a $950 million fourth-quarter profit, its second quarterly profit in two years. The company had a loss of $10.4 billion in 2005 and a $2 billion net loss overall in 2006.
GM, which sold about 9.09 million cars and trucks worldwide last year, has had to take some tough steps toward recovery. In 2005, the company announced it would eliminate 30,000 jobs at 12 facilities across the country by next year.
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