HOLLYWOOD
04-21-2010, 08:56 AM
Keep artificially pumping up the Markets/Wall Street... FEDERAL RESERVE! How much in interest has GM made from their $50 Billion in welfare over the past year? Pay close attention to the very last line... now, remember in December 2009, the Propaganda Press release by the Federal Government, Michigan State Politicians (Gov. Gramholm, et al) and General Motors repaid $1 Billion back? PURE BS while GM lost almost $3 and half Billion in Q4 2009.
Notice the caption below GM... I enlarged Chrysler successes :rolleyes:
http://www.financialpost.com/news-sectors/story.html?id=2933367
GM repays U.S., Canada US$5.8-billion
Reuters Published: Wednesday, April 21, 2010
Chrysler posts US$4B of losses since bankruptcy (http://www.financialpost.com/news-sectors/story.html?id=2933206)
http://a123.g.akamai.net/f/123/12465/1d/www.financialpost.com/news-sectors/2933370.bin?size=404x272 Reuters General Motors Co has completed repayments totalling US$5.8 billion to the U.S. and Canadian governments for loans that helped fund the U.S. automaker's bailout last year, the company says.
DETROIT -- General Motors Co has completed repayments totalling US$5.8 billion to the U.S. and Canadian governments for loans that helped fund the U.S. automaker's bailout last year, the company said on Tuesday.
GM, which emerged from bankruptcy in July 2009, had pledged two weeks ago to repay the balance of loans from the U.S. Treasury and Export Development Canada "in full by June at the latest."
"Our ability to pay back these loans less than a year after emerging from bankruptcy is a sign that our plan for building a new GM is working," GM chief executive Ed Whitacre said on Tuesday in an opinion piece posted on the Wall Street Journal website.
Mr. Whitacre has called a press conference for 10 a.m. Wednesday at GM's Fairfax, Kansas Assembly Plant.
The loans had outstanding balances of about US$4.7-billion to the United States and US$1.1-billion to Canada after accounting for exchange rates.
"It is also an important step toward eventually reducing the amount of equity the governments of the U.S., Canada and Ontario hold in our company," Mr. Whitacre said.
GM received about US$50-billion of U.S. government support in its bailout, much of which was converted to common and preferred stock in GM unaffected by the loan repayments.
The U.S. Treasury holds a 60.8% stake in the common stock of GM, Export Development Canada 11.7%, the United Auto Workers healthcare trust 17.5% and old GM, now known as Motors Liquidation, holds 10%.
The automaker has been preparing for an eventual public offering that would allow the governments to reduce their stakes in GM and earlier in April released the first full accounting of its balance sheet as a restructured company.
GM reported a net loss of US$4.3-billion for the period from its emergence from bankruptcy in July through the end of 2009, including a US$3.4-billion net loss for the fourth quarter.
Read more: http://www.financialpost.com/news-sectors/story.html?id=2933367#ixzz0lkKqto3y
Notice the caption below GM... I enlarged Chrysler successes :rolleyes:
http://www.financialpost.com/news-sectors/story.html?id=2933367
GM repays U.S., Canada US$5.8-billion
Reuters Published: Wednesday, April 21, 2010
Chrysler posts US$4B of losses since bankruptcy (http://www.financialpost.com/news-sectors/story.html?id=2933206)
http://a123.g.akamai.net/f/123/12465/1d/www.financialpost.com/news-sectors/2933370.bin?size=404x272 Reuters General Motors Co has completed repayments totalling US$5.8 billion to the U.S. and Canadian governments for loans that helped fund the U.S. automaker's bailout last year, the company says.
DETROIT -- General Motors Co has completed repayments totalling US$5.8 billion to the U.S. and Canadian governments for loans that helped fund the U.S. automaker's bailout last year, the company said on Tuesday.
GM, which emerged from bankruptcy in July 2009, had pledged two weeks ago to repay the balance of loans from the U.S. Treasury and Export Development Canada "in full by June at the latest."
"Our ability to pay back these loans less than a year after emerging from bankruptcy is a sign that our plan for building a new GM is working," GM chief executive Ed Whitacre said on Tuesday in an opinion piece posted on the Wall Street Journal website.
Mr. Whitacre has called a press conference for 10 a.m. Wednesday at GM's Fairfax, Kansas Assembly Plant.
The loans had outstanding balances of about US$4.7-billion to the United States and US$1.1-billion to Canada after accounting for exchange rates.
"It is also an important step toward eventually reducing the amount of equity the governments of the U.S., Canada and Ontario hold in our company," Mr. Whitacre said.
GM received about US$50-billion of U.S. government support in its bailout, much of which was converted to common and preferred stock in GM unaffected by the loan repayments.
The U.S. Treasury holds a 60.8% stake in the common stock of GM, Export Development Canada 11.7%, the United Auto Workers healthcare trust 17.5% and old GM, now known as Motors Liquidation, holds 10%.
The automaker has been preparing for an eventual public offering that would allow the governments to reduce their stakes in GM and earlier in April released the first full accounting of its balance sheet as a restructured company.
GM reported a net loss of US$4.3-billion for the period from its emergence from bankruptcy in July through the end of 2009, including a US$3.4-billion net loss for the fourth quarter.
Read more: http://www.financialpost.com/news-sectors/story.html?id=2933367#ixzz0lkKqto3y