Page 1 of 8 123 ... LastLast
Results 1 to 10 of 74

Thread: GM Pays off its Bailout Loans

  1. #1
    Dungeon Master
    Somewhere in Babylon
    Jetboogieman's Avatar
    Join Date
    Jan 2010
    Location
    Somewhere in Babylon...
    Last Seen
    @
    Lean
    Undisclosed
    Posts
    24,322
    Blog Entries
    1

    GM Pays off its Bailout Loans

    NEW YORK (CNNMoney.com) -- General Motors on Tuesday made a final payment of $5.8 billion to the U.S. and Canadian governments, paying off the last of its $6.7 billion in loans, a GM spokeswoman said.

    The automaker is expected to officially announce the repayment Wednesday at an event at the Fairfax, Kan., plant where it builds Chevrolet Malibu and Buick LaCrosse sedans.

    GM will also announce two big investments for production of the next-generation Malibu: $136 million in the Fairfax facility and $121 million in its Detroit-Hamtramck plant.

    The Hamtramck plant is where GM has already begun manufacturing the Chevrolet Volt electric car.

    GM wired $4.7 billion wired to the U.S. Treasury Department, completing payment of GM's $6.7 billion in federal loans. The company also sent $1.1 billion on Tuesday to Canada.
    GM pays off its Treasury Department loans - Apr. 21, 2010

    Well. There yah go, they repaid it

  2. #2
    Global Moderator
    Truth will set you free
    digsbe's Avatar
    Join Date
    May 2009
    Location
    Metro Washington DC
    Last Seen
    Today @ 12:09 AM
    Gender
    Lean
    Other
    Posts
    18,990

    re: GM Pays off its Bailout Loans

    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.

  3. #3
    Dungeon Master
    Somewhere in Babylon
    Jetboogieman's Avatar
    Join Date
    Jan 2010
    Location
    Somewhere in Babylon...
    Last Seen
    @
    Lean
    Undisclosed
    Posts
    24,322
    Blog Entries
    1

    re: GM Pays off its Bailout Loans

    *cries at his obvious spelling mistake* PLEASE FORGIVE ME OH DEBATE POLITICS! I meant loans please believe me

  4. #4
    ThunderCougarFalconBird
    roughdraft274's Avatar
    Join Date
    Feb 2010
    Location
    Louisiana
    Last Seen
    12-15-17 @ 06:32 PM
    Gender
    Lean
    Other
    Posts
    11,080

    re: GM Pays off its Bailout Loans

    Quote Originally Posted by Jetboogieman View Post
    *cries at his obvious spelling mistake* PLEASE FORGIVE ME OH DEBATE POLITICS! I meant loans please believe me
    U dont spel two gud, lol.

  5. #5
    Tavern Bartender
    Pussy Grabbin' Beaver
    Middleground's Avatar
    Join Date
    Jul 2005
    Location
    Canada's Capital
    Last Seen
    Yesterday @ 07:17 PM
    Gender
    Lean
    Undisclosed
    Posts
    22,458
    Blog Entries
    1

    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.
    Yet the irony is that the government had to bail out the banks, too.

    Seems like GM is finally getting it's act together, though it seems like the banks are not.
    No men are anywhere, and Im allowed to go in, because Im the owner of the pageant and therefore Im inspecting it, Trump said... Is everyone OK? You know, theyre standing there with no clothes. Is everybody OK? And you see these incredible looking women, and so I sort of get away with things like that.

  6. #6
    Dungeon Master
    Somewhere in Babylon
    Jetboogieman's Avatar
    Join Date
    Jan 2010
    Location
    Somewhere in Babylon...
    Last Seen
    @
    Lean
    Undisclosed
    Posts
    24,322
    Blog Entries
    1

    re: GM Pays off its Bailout Loans

    Quote Originally Posted by Middleground View Post
    Yet the irony is that the government had to bail out the banks, too.

    Seems like GM is finally getting it's act together, though it seems like the banks are not.
    The banks are so screwed it's scary.

  7. #7
    Dispenser of Negativity
    Cold Highway's Avatar
    Join Date
    May 2007
    Location
    Newburgh, New York and World 8: Dark Land
    Last Seen
    12-24-12 @ 11:21 PM
    Gender
    Lean
    Libertarian
    Posts
    9,596
    Blog Entries
    7

    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.
    Good luck with that one.
    Jackboots always come in matched pairs, a left boot and a right boot.

  8. #8
    Sage

    Join Date
    Nov 2009
    Last Seen
    Today @ 01:22 AM
    Gender
    Lean
    Slightly Liberal
    Posts
    8,360

    re: GM Pays off its Bailout Loans

    Quote Originally Posted by Jetboogieman View Post
    Not really. Most of what we gave to GM is now called equity so let's not ahead of ourselves. Also there is a huge loan to GMAC which we were told had to be bailed out along with GM.

    Very doubtful the GMAC loan will be fully repaid or that we will make money on the GM equity.

    The only part of the deal which made the country money is the one Obama and team like to berate, the banks.

  9. #9
    Global Moderator
    Truth will set you free
    digsbe's Avatar
    Join Date
    May 2009
    Location
    Metro Washington DC
    Last Seen
    Today @ 12:09 AM
    Gender
    Lean
    Other
    Posts
    18,990

    re: GM Pays off its Bailout Loans

    Quote Originally Posted by Middleground View Post
    Yet the irony is that the government had to bail out the banks, too.

    Seems like GM is finally getting it's act together, though it seems like the banks are not.
    They wouldn't have had to bail out the banks if they didn't force them to make bad loans anyway. Government was the problem for the banks and for the automakers (with parasitic unions and automobile regulations).

  10. #10
    Sage
    mike2810's Avatar
    Join Date
    Jan 2010
    Location
    arizona
    Last Seen
    Yesterday @ 10:52 PM
    Gender
    Lean
    Independent
    Posts
    15,032

    re: GM Pays off its Bailout Loans

    Wonder when Chrysler will be able to repay its bailout? They don't seem to be doing as well as GM.
    "I can explain it to you but, I can't understand it for you"

Page 1 of 8 123 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •