The article "Target at Post-Bailout GM: Earning $10 Billion a Year" [[page one, Feb. 6) indicates that now that General Motors Co. has gone through a quick bankruptcy restructuring which wiped out its debt, the company is enjoying the reward of making a handsome net profit and will be aiming at becoming even more profitable in the future. The article also notes that the company will pay no federal corporate taxes for years, as part of its bailout by the government.
What a sad picture. I find it offensive that the word "profit" is used to refer to GM's affairs. It is relatively easy to make a "profit" when debt and taxes are simply forgotten.