Reply #7: GM's Recovery Effort Revs Up

[ozymandius]

Even after taking important steps this week in its turnaround plan, General Motors Corp. has much more to do before returning to profitability and market stability, analysts said Thursday.

The beleaguered automaker's announcement Thursday that it had sold a larger majority interest in its commercial mortgage business in an $8.8-billion deal was seen as further evidence that its recovery plan was picking up steam.

The sale of 78% of GMAC Commercial Holding Corp. to an investor group led by Kohlberg Kravis Roberts & Co. — up from a 60% stake agreed to in August — will raise cash and bolster GM's sagging credit ratings.

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