GM's Fast Turnaround Slams into the Euro Crisis

摘要

Since exiting bankruptcy last July, General Motors has revived its once-fusty product line, repaid $8.4 billion in bailout loans to U.S. taxpayers, and logged its first quarterly profit since 2007. That swift turnaround has set the stage for an initial public offering for America's largest car company by early 2011.rnThe fast-mending automaker encountered disappointment on June 1, however, when a German government panel refused GM's request for 1.1 billion euros ($1.3 billion) in German aid for its money-losing Opel unit. The group of outside advisers assumed a "very critical attitude" toward GM's application, Economy Min-rnister Rainer Bruederle said on June 1. "The advisory panel's recommendation will carry major weight for the further decision-making process."