Atlanta, Ga. 5/17/2010 9:40:11 PM
News / Business

GM Reports First Quarterly Profit Since 2007, Credits Cost Cutting Moves for Success

General Motors has reported its first quarterly profit since 2007, posting a profit of $865 million over the first three months of 2010. According to GM the first three months of the year produced sales of $31.5 billion, a solid improvement over their $22.4 billion in sales for the same quarter last year.

 

The profit was a vast improvement over the $6 billion loss GM reported for the same quarter last year. GM has pointed to a number of cost-cutting measures and strong sales tied to their new models as cause for the improvement.

 

Those cost-cutting moves included the selling or dropping of Hummer, Saab and Saturn, the closing of 14 factories and the cutting of more than 65,000 jobs.

 

Click here for more Business News

 

About WooEB

 

WooEB Community is a business, music and social networking community. WooEB provides members with a wealth of applications that enable them to create an in-depth profile within the community. Profiles include an About Me, Background and Lifestyle, Videos, Photo sharing, News, Music, Blogs, unique URL and networking with other members inside the WooEB community. WooEB provides ADit to each member providing them the opportunity to have an exclusive profile (no outside advertising) displaying only banner ads they upload to their pages. Members can run their own ads or give or sell their ad space to advertisers at prices the member sets.

 

To create your profile sign up and within minutes you too can have your People profile running your ads and building your network with new members daily.