A Bold Prediction Becomes a Happy Reality

About a year ago, the WSJ posted a story about a very, very bold prediction: the folks over at GM were predicting 2010 would be a "profitable year" for the company.

It was a very bold prediction because GM had not seen a profit since 2004. 2009 saw the forced exit of its leader, Rick Wagoner, a man who'd occupied various positions in the C-suite at GM for nearly 20 years. Under his leadership, GM ended up a recipient of a massive and unpopular government bailout, and then filed for bankruptcy soon after.

So for a company that had been so buffeted by terrible leadership and the headwinds of our grim economy, its prediction of profitability in 2010 seemed a bit of a reach.

But apparently, its predictions of success have become reality. According to a story in the Wall Street Journal, GM posted its "strongest annual performance in more than a decade" in 2010.

And a profit of $4.7 billion.

However, they're not out of the woods yet. Higher gas prices seem inevitable. They still have billions in unfunded pension obligations and the economy needs to continue to improve. But it's nice to see a Motor City icon having a comeback, at least in 2010.

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