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Thread: GM Pays off its Bailout Loans

  1. #11
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    re: GM Pays off its Bailout Loans

    Quote Originally Posted by Jetboogieman View Post
    LOL Actually no they haven't repaid it.

    The company got $50 billion from our government, and $10 billion more from Canada. They have paid the U.S. back $7 billion plus interest, as I understand it, including the latest payment of nearly $5 billion. So they say they paid us back.

    Not quite: That still leaves $43 billion.

    GM can say they paid us back because of the $50 billion in total support, only $7 billion was counted as a loan and the rest was traded for equity in the company that emerged from bankruptcy. But that is really an accounting trick so that GM doesn't have to pay interest on that money.


    Wow.

    You really thought that was true?


    GM Still Owes Us - Forbes.com
    Last edited by texmaster; 04-21-10 at 07:52 PM.
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    re: GM Pays off its Bailout Loans

    Quote Originally Posted by digsbe View Post
    Good for them. Now let's hope that the government gets out of GMs business and that the repaid money finds its way back to the taxpayers. Banks should give loans, not the government.
    The Guvment was not ever really in "GMs business " besides the initail spat with the Big guys at mother motors !!
    I do not recall the Viet Cong asking me if I was a natural born or Naturalized American before they shot at me, they just shot at all of us f107HyperSabr

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    re: GM Pays off its Bailout Loans

    Quote Originally Posted by roughdraft274 View Post
    U dont spel two gud, lol.
    Hey giv da giy a break it was his keybord that made that mistake. I also haVE ONE OF THOSE MISCREANT KEYBOARDS.
    I do not recall the Viet Cong asking me if I was a natural born or Naturalized American before they shot at me, they just shot at all of us f107HyperSabr

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    re: GM Pays off its Bailout Loans

    Quote Originally Posted by mike2810 View Post
    Wonder when Chrysler will be able to repay its bailout? They don't seem to be doing as well as GM.
    MoPar will never be up in he top three ever again but I wish them well and hope that they will become profitable again.
    I do not recall the Viet Cong asking me if I was a natural born or Naturalized American before they shot at me, they just shot at all of us f107HyperSabr

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by texmaster View Post
    LOL Actually no they haven't repaid it.

    The company got $50 billion from our government, and $10 billion more from Canada. They have paid the U.S. back $7 billion plus interest, as I understand it, including the latest payment of nearly $5 billion. So they say they paid us back.

    Not quite: That still leaves $43 billion.

    GM can say they paid us back because of the $50 billion in total support, only $7 billion was counted as a loan and the rest was traded for equity in the company that emerged from bankruptcy. But that is really an accounting trick so that GM doesn't have to pay interest on that money.


    Wow.

    You really thought that was true?


    GM Still Owes Us - Forbes.com
    Ever the pessimest

    You are right. Don't shoot the messenger.

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    Re: GM Pays off its Bailout Loans

    It's nice to see good news once in a while.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Jetboogieman View Post
    Ever the pessimest
    Realist
    Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.

    John Adams

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by texmaster View Post
    LOL Actually no they haven't repaid it.

    The company got $50 billion from our government, and $10 billion more from Canada. They have paid the U.S. back $7 billion plus interest, as I understand it, including the latest payment of nearly $5 billion. So they say they paid us back.

    Not quite: That still leaves $43 billion.

    GM can say they paid us back because of the $50 billion in total support, only $7 billion was counted as a loan and the rest was traded for equity in the company that emerged from bankruptcy. But that is really an accounting trick so that GM doesn't have to pay interest on that money.


    Wow.

    You really thought that was true?


    GM Still Owes Us - Forbes.com
    So you confirm that what he said, that GM payed off it's loans from the government of ~7 billion dollars, is factually correct.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by Redress View Post
    So you confirm that what he said, that GM payed off it's loans from the government of ~7 billion dollars, is factually correct.
    No because they borrowed 43 Billion more.

    They simply aren't paying interest on that loan.

    You aren't going to pretend that 43 billion didn't come from the government are you?
    Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.

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    Re: GM Pays off its Bailout Loans

    Quote Originally Posted by texmaster View Post
    No because they borrowed 43 Billion more.

    They simply aren't paying interest on that loan.

    You aren't going to pretend that 43 billion didn't come from the government are you?
    Not sure if this is quite how it works, but if the government bought 43Billion of equity shares + a 7billion $ loan... technically they have repaid the loan, even though they still have to 'mature those equity shares... does that make sense??

    Like you said about accounting tricks... same types of tricks that land those CEO's multi-million dollar bonuses even while they are going under.

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