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The auto maker, long synonymous with bloat and mismanagement, has undergone an impressive turnaround since it emerged from a brief stay in bankruptcy last year. GM still is no Honda or BMW, but it's probably in its best shape since its heyday in the 1960s. It operated at a narrow loss in the third quarter, and fourth-quarter results, due later this month, could show an operating profit.
Wall Street is excited because a competitive GM could be very profitable if the auto market turns up next ...
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