Clyde Revord Motors in Everett was one of about 1,300 General Motors franchises across the country that received wind-down orders last year — very bad news if you’re in the business of selling cars. But after a year of stress, the business finally got some good news. Like pushing a big “undo” button, General Motors offered to renew contracts at 661 of those shuttered dealerships. And one of those offers was made to Clyde Revord Motors. “We’ve been offered back our franchise, and we’ve accepted that offer,” owner Mark Revord said. “There are a few loose ends that need to be tied up.” Clyde Revord Motors sells Pontiac, Buick and GMC cars and trucks.
GM repays $8 billion in government loans
General Motors Co. has repaid $8.1 billion in loans it received from the U.S. and Canadian governments, a move its chief executive says is a sign the automaker is on the road to recovery. CEO Ed Whitacre announced the repayments Wednesday at GM’s Fairfax Assembly Plant in Kansas City, Kan., where he said GM is investing $257 million in that factory and the Detroit-Hamtramck plant. He was to meet with top lawmakers in Washington on Wednesday afternoon. The White House pointed to GM’s repayment of the loan and Chrysler LLC’s posting of an operating profit in the first quarter of 2010 as concrete signs that the bailout of the automakers was working.
Antivirus program goes a little wacky
Computers in companies, hospitals and schools around the world got stuck repeatedly rebooting themselves Wednesday after an antivirus program identified a normal Windows file as a virus. McAfee Inc. confirmed that a software update it posted at 9 a.m. Eastern time caused its antivirus program for corporate customers to misidentify a harmless file. It has posted a replacement update for download. McAfee could not say how many computers were affected, but judging by online postings, the number was at least in the thousands and possibly in the hundreds of thousands. McAfee said it did not appear that consumer versions of its software caused similar problems.
McDonald’s reports strong U.S. sales
McDonald’s Corp.’s strongest month of U.S. sales in nearly a year combined with big gains overseas to boost first-quarter profit more than 11 percent. The fast-food giant also sees that March momentum spilling into April as it draws more customers with its breakfast value menu and increasingly popular coffee and frappes. Wednesday’s news may point to tentatively better fortunes ahead for the nation’s restaurant industry. Even McDonald’s, which held up well early in the recession, had been squeezed by consumers who cut back on eating out. “I think that the consumer is starting to feel a little bit better,” said Chief Executive Jim Skinner. The March results were markedly better than the past five months.
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