GM’s Washington Charm Offensive Sidelined by Wall Street’s Push for Profit

GM’s Washington Charm Offensive Sidelined by Wall Street’s Push for Profit
A General Motors Co. logo hangs above a Chevrolet dealership this past April in Chicago, Illinois. GM said on Tuesday that its July auto sales were up 5 percent from June. Scott Olson/Getty Images
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WASHINGTONGeneral Motors code named its November announcement to cut nearly 15,000 jobs in North America and restructure itself “Turbo,” suggesting a leaner approach for the largest U.S. automaker would “accelerate its transformation.”

Wall Street investors cheered the ambition to get smaller and boost profits. But in Washington, the move remains a public relations crisis that threatens to derail a methodical effort by Chief Executive Mary Barra to keep GM in good graces with the White House and other politicians.