News In Brief
Detroit — '83 General Motors profits hit $3.73 billion, a record
General Motors reported record profits Tuesday of $3.73 billion, or $11.84 a share, on revenues of almost $74.6 billion for 1983. The results were a sharp improvement over 1982.
The company said the 1983 profits provided a profit-sharing fund of $322 million to be distributed to about 531,000 employees in this country.
The GM statement said the profit-sharing plan will pay about $640 to each employee who worked a normal schedule throughout 1983.
''No other company anywhere in the world, at any time in the past, has ever shared such a large amount of profits with its employees,'' GM chairman Roger Smith and president James McDonald said in the statement.