GM Repays Govt Loan? What? - GoFuckYourself.com

96ukssob · 04-21-2010, 09:26 PM

Heard this when I was in the liquor store tonight that GM has paid back their loan to the gov't and earlier than planned.

However reading the story, the "loan" is a fraction of what they were actually given...

Quote:

GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. At first the entire amount of U.S. aid was considered a loan as the government tried to keep GM from going under and pulling the fragile economy into a depression.

But during bankruptcy, the U.S. government reduced the loan portion to $6.7 billion and converted the rest to company stock, while the Canadian governments held $1.4 billion in loans.

The automaker hopes to repay the remaining $45.3 billion to the U.S. government and $8.1 billion to Canada via a public stock offering, perhaps later this year. The U.S. government now owns 61 percent of the company and Canada owns roughly 12 percent.

http://www.google.com/hostednews/ap/...7WW_QD9F7I9B82

Now since they are repaying their loan, when am I going to get my $8k tax credit???

D Ghost · 04-21-2010, 09:27 PM

Interesting...

Barefootsies · 04-21-2010, 09:28 PM

Yeah, heard it on NPR a week or so back.

Kinda funny how all these companies are paying these loans back just so they do not have the government in their corporate level kitchen.

Theo · 04-21-2010, 09:30 PM

"The automaker hopes to repay the remaining $45.3 billion to the U.S. government and $8.1 billion to Canada via a public stock offering, perhaps later this year."

what a surprise...no

96ukssob · 04-21-2010, 09:52 PM

Quote:

Originally Posted by Soul_Rebel

"The automaker hopes to repay the remaining $45.3 billion to the U.S. government and $8.1 billion to Canada via a public stock offering, perhaps later this year."

what a surprise...no

I'll remember this when I owe the gov't money... I will offer them stock in my tranny websites instead lol

JFK · 04-21-2010, 11:36 PM

Quote:

Originally Posted by bossku69

I'll remember this when I owe the gov't money... I will offer them stock in my tranny websites instead lol

now you talking

GatorB · 04-21-2010, 11:43 PM

Damn communist Candians and thier 12% stake.

04-21-2010, 09:28 PM	#3
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Yeah, heard it on NPR a week or so back. Kinda funny how all these companies are paying these loans back just so they do not have the government in their corporate level kitchen. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

04-21-2010, 09:27 PM	#2
D Ghost null Industry Role: Join Date: May 2006 Posts: 9,820	Interesting...

04-21-2010, 09:30 PM	#4
Theo HAL 9000 Industry Role: Join Date: May 2001 Posts: 34,515	"The automaker hopes to repay the remaining $45.3 billion to the U.S. government and $8.1 billion to Canada via a public stock offering, perhaps later this year." what a surprise...no

04-21-2010, 11:43 PM	#7
GatorB The Demon & 12clicks Industry Role: Join Date: Oct 2001 Location: SallyRand is a FAGGOT Posts: 18,208	Damn communist Candians and thier 12% stake.