Whether it's because the company is ready to again stand on its own two feet, or because of undue political pressure, General Motors Co. looks to be preparing an initial public offering (IPO) that would repay billions to taxpayers who own a majority stake in the company.
The company yesterday (Thursday) reported a 44% increase in net profit and announced that Chief Executive Officer Ed Whitacre would step down from his post on Sept. 1.
Whitacre, who was named GM's chairman last year as the company emerged from bankruptcy protection, will be replaced by GM board member Daniel Akerson. Akerson has little experience in the automobile industry, but he boasts a solid track record of leading telecommunications companies.
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Whitacre Resigns, but Is GM Really Ready to Roll On with its IPO?
Will Copper Become the "New Gold?"
The Statue of Liberty is one of the most recognizable American icons in the world.
And as she towers 305 feet above Ellis Island, what's Lady Liberty wearing? Copper - 60,000 pounds of it.
Clearly, copper's big in art. It's also a key metal that keeps the world economy humming. Copper consumption has grown at an average annual rate of 4% since 1900. China and India - which some analysts describe as the combined market of "Chindia" - where one of every three human beings resides, needs loads of this element to meet its modernization requirements for electricity and infrastructure.
Copper is also used in today's currency, where most U.S. coins are actually 92% copper, and 8% nickel.
But there's no denying that, given the choice, nearly everyone prefers gold. It's valuable, it's seductive and it's mystical.
Ancient kings fought wars to amass it. Yet, for thousands of years, its most enduring role has arguably been in the form of money - as a store of value.
That's because fiat-paper-currency experiments have never lasted, and always ended badly.
Increasingly, followers of the Austrian School of Economics are nostalgic for gold to regain its former glory, perhaps "backing" a new international currency.
But despite gold's much longer history as true money, some believe that copper - the much humbler metal - could be positioning itself to upstage gold.
And as she towers 305 feet above Ellis Island, what's Lady Liberty wearing? Copper - 60,000 pounds of it.
Clearly, copper's big in art. It's also a key metal that keeps the world economy humming. Copper consumption has grown at an average annual rate of 4% since 1900. China and India - which some analysts describe as the combined market of "Chindia" - where one of every three human beings resides, needs loads of this element to meet its modernization requirements for electricity and infrastructure.
Copper is also used in today's currency, where most U.S. coins are actually 92% copper, and 8% nickel.
But there's no denying that, given the choice, nearly everyone prefers gold. It's valuable, it's seductive and it's mystical.
Ancient kings fought wars to amass it. Yet, for thousands of years, its most enduring role has arguably been in the form of money - as a store of value.
That's because fiat-paper-currency experiments have never lasted, and always ended badly.
Increasingly, followers of the Austrian School of Economics are nostalgic for gold to regain its former glory, perhaps "backing" a new international currency.
But despite gold's much longer history as true money, some believe that copper - the much humbler metal - could be positioning itself to upstage gold.
To find out more about the forces that will transform copper into the "New Gold," read on...
Ford Reports $997 Million Profit as Manufacturing Heats Up
Ford Motor Co. (NYSE: F), the only major U.S. automaker to avoid bankruptcy in 2009, said yesterday (Monday) that an aggressive cost-cutting campaign, improved earnings at its financing arm and market-share gains in North America resulted in a $997 million third-quarter profit - its first operating profit since early 2008.
Ford has now been profitable for two consecutive quarters, a first for Chief Executive Officer Alan Mulally, who kept Ford out of bankruptcy as General Motors Co. (OTC: MTLQQ) and Chrysler Group LLC reorganized under Chapter 11 protection earlier this year.
Ford has now been profitable for two consecutive quarters, a first for Chief Executive Officer Alan Mulally, who kept Ford out of bankruptcy as General Motors Co. (OTC: MTLQQ) and Chrysler Group LLC reorganized under Chapter 11 protection earlier this year.
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