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According to General Motors CFO Christopher P. Liddell, the automaker stands a "reasonable chance" of making a profit in 2010. GM previously lost $88 billion from 2004 until its bankruptcy filing in 2009.
The automaker is still 60 percent owned by the U.S. government and is deeply focused on proving it can get back into the black. Of course, a better economy and new car market would help dearly, Liddell said.
An initial public stock offering is also "possible" this year, but there is no rush to do so.
"It's an important part of rejuvenation for the company, but it's important we do it at the right time," the executive said at a recent press conference.
Liddell came to GM from Microsoft for the "once-in-a-lifetime opportunity to do something that's incredibly important and incredibly interesting." He's a self-proclaimed car fan who was lucky enough to drive a Ferrari to work every day in Seattle. Now he's bent on driving each of GM's models.
Source: The New York Times
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