GM Can Purr After Tune-Up

Updated with closing stock prices

General Motors(GMGMQ Quote) could emerge from bankruptcy as soon as Thursday with a promising outlook.

New GM will have coveted brands like Chevrolet and Cadillac. It will control close to 20% of all U.S. vehicle sales, down from the 51% share in 1962, but not so bad for a new business. Its costs are lower, its debt has been reduced and it will likely have sailed through a complex bankruptcy in just 39 days -- despite the 850 objections raised in court.

"Operationally, financially, GM will be in a much better situation than three months ago," says Tom Libby, an independent auto industry analyst. "They are going to be all right," says John Wolkonowicz, senior auto analyst at IHS Global Insight. ...