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From Times Staff and Wire Reports

‘93 Was ‘Turnaround’ Year for GM: Chief Executive John Smith said the auto maker earned its first profit in four years in 1993 and that he expects an even stronger 1994. “It was a good year for GM,” Smith said. “It was a turnaround year for our North American operations. GM returned to profitability . . . and 1994 looks strong.” He declined to say how much General Motors Corp. earned last year, but through the first nine months the company had a profit of $1.3 billion, virtually assuring that it would end the year in the black for the first time since 1989, when it earned $4.2 billion.

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