A couple of years ago, Chrysler and General Motors needed billions in taxpayer-funded bailouts from both Canada and the U.S. to survive. Looks like the investment paid off. Chrysler, GM and Ford all posted profits for 2011 — the first time that’s happened in a while — and GM, in particular, posted an all-time record profit. Its 43,000 blue-collar workers in the U.S. will each get a $7,000 profit-sharing check this spring.
So how’d this rebound happen in the middle of a recession? Here’s Scotiabank senior economist Carlos Gomes on that issue: