By Kim Da-ye
In the first quarter of 2011, General Motors (GM) posted $1.7 billion in operating profit in North America and $0.3 billion in losses in Europe. The disparity between the two regions is expected to widen in second quarter earnings.
What accounts for the difference was an aggressive restructuring plan in the U.S. with aid from the government, Al Koch, the vice chairman of the global restructuring advisory firm AlixPartners, said Tuesday at a press meeting in Seoul.
The North American operation has slimmed down and become more efficient with heavy support from the U.S. government, while Europe ― challenged by hostile labor unions and modest injections of public money ― keeps providing more vehicles