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GM chairman: We will payback the $81B loaned to us
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11-11-2009, 09:01 AM
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just the messenger
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Join Date: Feb 2006
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GM chairman: We will payback the $81B loaned to us
 Says it will be soon
Nick Bunkley - NYTIMES - Nov 10, 2009
Seem like a tall order even if it was Toyota --Ed.
The chairman of General Motors, Edward E. Whitacre Jr., said Tuesday that the automaker would be able to repay all of its government loans and would begin doing so soon.
A government report released last week concluded that taxpayers are unlikely to receive full repayment of the more than $81 billion lent to rescue G.M. and Chrysler. But Mr. Whitacre, speaking at a small college near his home in Texas, insisted that G.M. intended to repay its full debt to the Treasury Department, excluding the nearly $1 billion lent to the old part of G.M. that remains in bankruptcy. ... [Read More] |
11-11-2009, 09:40 AM
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Beat The System
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Re: GM chairman: We will payback the $81B loaned to us
Somehow I have doubts.
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Andrew
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100 mpg commute / 90.2 mpg tank = 1191 miles
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11-11-2009, 09:43 AM
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Be Inspired
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Join Date: Mar 2008
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Re: GM chairman: We will payback the $81B loaned to us
Didn't our economic problem start with loaning money to people who don't have sufficient proof they'll be able to pay it back? Talk is Cheap, What we need to see is that money coming back into the taxpayers' pockets. I'm sure they know how to do that, but I couldn't have made that guess from the last decade of GM decisions... 
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Ricardo
Best Segment: 25.3mi@76.9mpg
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11-11-2009, 11:37 AM
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doesn't wash his car.
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Join Date: Sep 2009
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Re: GM chairman: We will payback the $81B loaned to us
Meanwhile, Old GM is planning to skip the bill on the NUMMI shutdown costs, supposedly including substantial environmental remediation, apparently leaving Toyota holding the bill.
Quote:
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“Motors Liquidation is not contributing at all to Nummi’s closure costs,” said Tim Yost, a spokesman for Detroit-based Motors Liquidation Corp., which took over discarded assets from GM as part of the carmaker’s bankruptcy reorganization. “We don’t believe there will be a requirement for us to do so.”
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http://www.bloomberg.com/apps/news?p...d=aOqZpejbyMNA |
11-11-2009, 02:53 PM
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Junior Member
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Join Date: Jun 2009
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Re: GM chairman: We will payback the $81B loaned to us
If GM pays back the government quickly, it proves that the bankruptcy process didn't treat bondholders fairly.
I won't buy a GM product until my bonds are paid in full.
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11-11-2009, 03:27 PM
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Senior Member
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Join Date: Jul 2008
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Re: GM chairman: We will payback the $81B loaned to us
Quote:
Originally Posted by scywin
If GM pays back the government quickly, it proves that the bankruptcy process didn't treat bondholders fairly.
I won't buy a GM product until my bonds are paid in full.
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That is actually a very good point. I hadn't considered that. Thank you for sharing that. |
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