GM Repaid Government Loan In Full 5 Years Ahead of Schedule

Bick66

General Motors announced yesterday that they have fully repaid their government loan, plus interest, five years ahead of schedule. Although GM has has a lot of work ahead to get back on track, it seems like they are making steps in the right direction. I guess time will tell just how much they’ve learned from their past mistakes. Watch below as Chairman and CEO of General Motors Ed Whitacre talks about the repayment and touches on the future of GM and read more at gm.com.

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Posted at 9:42 am in bailout, Chris Bicknell, General Motors, GM

Comments

racerjim
Apr 26, 2010 at 9:35 am

Meanwhile…in Dearborn a profit is being turned.

EatsRiceZ28
Apr 24, 2010 at 7:12 am

Way to go GM now just get back on top.

SouthernGuy8503
Apr 22, 2010 at 6:19 pm

all in all, i’d rather the tax money to to any of the “Big 3″ than pay people welfare that are able to work but don’t want to work. plus i didn’t notice taxes going up so it didn’t even effect “us small people”. looks like all they did was refigure where the money went that’s all, at least thats what i get from it

Darrell79
Apr 22, 2010 at 6:06 pm

GM paid back the LOAN. The rest of the money was used to purchase shares of the company. Those shares will be sold back to private investors as time goes on for a profit. The tax payers, or government, will most likely make money on this in the end. All the more reason to buy American right now. Even if you don’t agree with the bailout you should be happy that GM seems to be doing better. Everyone should.

JoeCool6972
Apr 22, 2010 at 5:37 pm

I hate GM an will never own another after owning two cars that were complete POS’s, but I don’t want to see any American company go under… CONGRATS GM!

MrFlounder
Apr 22, 2010 at 5:24 pm

The loan isn’t paid back yet. GM got over $50 billion from the taxpayers. This story is about one small part of the loan.

http://firstread.msnbc.msn.com/archive/2010/04/21/2275990.aspx

retroman
Apr 22, 2010 at 2:51 pm

Well, the former big three aren’t out of the woods yet, but it’s good to see things are looking better for Ford, GM, and Chrysler. It’s also good to know that GM can mind its own business again without having to get approval from Washington. I’m hoping that a few specialty projects the government would’ve said no to will get greenlighted now (Like a Camaro Z28 maybe… ) Good for GM. Now if only bureaucrats would take note and do likewise (ie. cut wasteful spending and programs and pay off the national debt). Well, maybe that’s too much to ask.

GetTheClicker
Apr 22, 2010 at 2:24 pm

You can thank Toyota for this one….

SouthernGuy8503
Apr 22, 2010 at 10:32 am

got to love it. i knew GM would pay it back but didn’t think it would be 5 years ahead of schedule.

Darrell79
Apr 22, 2010 at 10:09 am

Good for them. Is it weird that my arm hair stood up and I got all warm and fuzzy feeling while watching this?