GM posted record profit in 2011 – thank you, President Obama. No thank you, Mitt Romney.

And the GOP presidential candidates are bashing the rescue of GM? The fourth quarter results suggest some problems still need to be addressed, but it’s still an impressive year, all things considered.

The 103-year-old company made $7.6 billion in 2011, up 62 percent from 2010. Full-year revenue rose 11 percent to $105 billion. North America led the way with a $7.2 billion pretax profit. But problems surfaced that could hurt future earnings. GM lost $700 million before taxes in Europe, and lost $100 million in South America. GM’s fourth-quarter profit was flat with 2010. GM earned $500 million, or 28 cents per share. Revenue rose 3 percent to $38 billion. Before one-time items, GM earned 40 cents per share.

You know who’s not responsible for saving the auto industry and millions of jobs?

Mitt Romney bet against America, and he lost.

More on Mitt Romney’s proposal to let Detroit go Bankrupt here.


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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