|
GM delivers early on loan payments
GM delivers early on loan payments
Posted on Monday, December 21st, 2009 at 2:28 PM EST.(Employee News)
General Motors Co. made its first payments Friday on nearly $7.1 billion in outstanding loans from the U.S. and Canadian governments, The Detroit News reported.
GM paid $1 billion to the U.S. Treasury, using unspent taxpayer loan money; $192 million went to the Canadian national and Ontario provincial governments, the paper said. The Treasury Department hasn’t determined whether GM will be free of government oversight once its $6.7 billion in loans is paid in full, since the government owns a 61 percent stake in the automaker, the News said.
“We are grateful for the support the governments have provided us,” GM Chairman and CEO Ed Whitacre Jr. said in a statement. “We look forward to continuing repayments through June 2010, at which time the balances will be paid in full, assuming no downturn in the economy or business.” (The Detroit News)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
|
Linear Mode
