FROM BUSINESS WEEK: General Motors Co. Chairman and Chief Executive Officer Ed Whitacre said he “hopes” to post a 2010 profit, a day after predicting that the biggest U.S. automaker would end five straight annual losses this year.
A return to profitability depends on economic growth and increasing sales, Whitacre said today after an event in Brownstown Township, Michigan, where a GM plant is producing batteries for the Chevrolet Volt electric car.
He told reporters yesterday in Detroit he expected GM to report “positive net income” in 2010, stepping up the timeline set by predecessor Fritz Henderson for positive cash flow this year and a profit in 2011. Whitacre became CEO on Dec. 1 when the board ousted Henderson after eight months on the job. MORE»
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