Southridge Capital cheered the great news from the Auto Industry last week. The first was General Motors repayment of the Federal Government loans of $5.8 billion ahead of schedule. Not only did the loans get repaid early, but the Federal Government made money.
Secondly, sticking with the auto industry, Chrysler reported an operating profit of $143 million, with sales increasing 3%, and market share increasing a full percentage point from 8.1% to 9.1%. So as mentioned in an early blog we felt (and still feel) the Auto Industry is helping us out of the recession.
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