GM Boon

Automaker reports $1.3 billion second quarter profit as it preps for public offering.

HALPERIN'S TAKE: Don't be fooled by this man's smile. Failure to get props from the press or the right (or the public) for his calibrated intervention in the U.S. auto industry is Exhibit A in the presidential case of frustration about not getting credit for his actions.  And there are a LOT of exhibits.

Meanwhile: Whitacre to step down as C.E.O. Sept. 1.