General Motors Co. plans to pay all of its $6.7 billion in government loans by the end of June, Chairman and CEO Ed Whitacre Jr. said Tuesday.
The automaker plans to make quarterly installments starting this month with a $1.2 billion payment, Whitacre said. He said GM could repay the loan sooner but that hasn't been decided.
GM has received $52 billion total in aid from the government as it navigated bankruptcy protection earlier this year. Of that total, $45.3 billion was converted into equity, giving the government a 61 percent stake in the automaker.
Whitacre said GM has no timetable yet for an initial public offering of stock, which would be necessary for the government to recoup the rest of its investment in the company. He made the remarks during a roundtable discussion with reporters in Detroit.
Answer by mancosmomma at 11:35 AM on Dec. 15, 2009
I don't know, I know alot of the money has been paid back. I believe some is going into job growth and the majority is going to pay down the deficit, I think I read 145 billion....but I will have to see if I can find the figure again...
Answer by sweet-a-kins at 11:42 AM on Dec. 15, 2009
Answer by Anonymous at 12:11 PM on Dec. 15, 2009
Answer by Carpy at 12:12 PM on Dec. 15, 2009
Bank of America is also paying back.....good job!
ALot od the banks did, I think Citigroup and wellsFargo just announced they are repaying as well
I think they better hold off on the payback until the libs are out of control. That way they won't blow it on pork.
What do you think th erepublicans will do with it ?
Answer by sweet-a-kins at 12:24 PM on Dec. 15, 2009
Answer by Lindalu2 at 12:48 PM on Dec. 15, 2009
Answer by Anonymous at 12:59 PM on Dec. 15, 2009
Answer by Anonymous at 1:04 PM on Dec. 15, 2009
Next question overall
if i want to and do have sex everyday does that mean i have a high sex drive...