General Motors reported the largest annual profit in its history on Thursday, but losses in Europe dragged down fourth-quarter earnings.
G.M. said it earned a quarterly profit of $472 million, or 28 cents a share, down from $510 million, or 31 cents a share, a year ago. It was the eighth-consecutive quarterly profit for the carmaker, which cleansed much of its debt in bankruptcy years ago, but also the smallest during that stretch.
Look at that, with a bunch of federal money and the ability to declare bankruptcy to eliminate any debts on the books, G.M. is doing great. Must be nice to have the government helping you out like that.