General Motors hits a few bumps on the road to recovery
Posted: 07/31/2012
DETROIT (WXYZ) - General Motors has come a long way since its bankruptcy and subsequent bailout, but it appears they’ve hit a few bumps along the road to recovery.
Several high-profile executive departures and a stock that has dipped badly are raising questions about the course of the company.
Just last weekend marketing executive Joel Ewanick abruptly announced his resignation. He was one of several top-level officials to leave the company in recent months.
As for the stock, GM closed up slightly at $19.71 – but that’s still sharply lower from it’s initial offering of about $33 back in 2010. That doesn’t mean the company isn’t making money – GM is turning profits in the billions. Still questions about troubles in Europe are plaguing the automaker.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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