How long was GM in bankruptcy?

Q: How long was General Motors in bankruptcy?

A: You mean, how short a duration of time was General Motors in bankruptcy?

GM filed for Chapter 11 bankruptcy on June 1 and emerged from bankruptcy on July 10. That's around six weeks.

It was five days before on July 5 that a federal judge allowed GM to sell its Cadillac brand and other assets to a new company owned primarily by the US government.

Other landmark dates in the recent history of GM:

December 19, 2008. The government announces that General Motors will received $13.4 in federal bailout funds.

March 29, 2009. Fritz Henderson takes over as CEO after Rick Wagoner was ousted at the behind-the-scenes urging of the executive branch.

May 15, 2009. General Motors declares that it plans to close 1,200 of its dealerships.

How much were Goldman Sachs' Staggering Profits?

Q: Everyone seems agog about the recent profits of Goldman Sachs How much was the number in dollars? Was it really too much?

A: Just the facts. In ninety-one days (from March 28 to June 26), Goldman Sachs made more than $3.4 billion dollars. It is the most the company has ever earned in a quarter.

The figure translates into $1.6 million per hour, $117,000 per employee.

Goldman Sachs has paid back, with interest, the $10 billion that American taxpayers gave the company back in October 2008 under the presidency of George W. Bush.

Why were Goldman Sachs profits so high? Among the reasons cited:

1. Many of its competitors are gone because of the financial crisis.

2. Goldman Sachs did a better job of guiding itself through the crisis.

3. It took great risks, and with great risks come great rewards.