The automaker announced Thursday that it earned its largest profit ever in 2011 — $7.6 billion — citing strong sales in the U.S. and China. The company nearly collapsed two years ago and needed a bailout by the U.S. government, which still owns about 26 percent of the company.
The potential problem for Romney, however, is that even some Republicans, let alone Democrats and many independents, are likely to see GM's financial results as further vindication of the federal bailouts and Obama's approach.
The U.S. rating agency Moody's announced Thursday morning more downgrades are on the horizon — this time for nearly 20 global banks and dozens of additional European firms. Names like Morgan Stanley and UBS could see their long-term credit ratings affected. It's another indicator of the wide reach of Europe's debt crisis.
Apple is under pressure by consumers and lawmakers on Capitol Hill to enforce its rules when it comes to iPhone apps that upload users address books. Several social media apps, such as Facebook and Twitter, can gain access to a phone's address book, and users often aren't warned what's happening.
It's estimated the nation faces a $3 trillion backlog in unmet road and transit needs. Since the Reagan administration, public transit has been funded from the same revenue stream as roads and bridges. Now there's a movement to fund public transit with revenue sources other than the gas tax.
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