GM shares close at $12.85; up 12 percent

« Previous: Mitsubishi, UAW resume talks after three years Next:McCain changes auto emissions stance » GM shares close at $12.85; up 12 percent General Motors Corp. shares rallied for a third consecutive session Thursday, closing up 12 percent at $12.85. The stock, which sank to historic lows in early July on fears that the automaker might be facing a risk of bankruptcy, has rebounded 37 percent since GM’s management outlined measures Tuesday aimed at bolstering liquidity. Included in the ranks of GM stock buyers were the 20 members of GM’s national dealer council, who bought about 107,000 GM shares, or more than $1 million worth of stock, to express their support the company. Johnson Controls posts 11% increase in profits MILWAUKEE — Johnson Controls Inc ., which makes building and automotive systems, said Thursday its... [read full story]