This email I received from GM clearly states "we have repaid our government loan – in full, with interest" yet the AP and others will tell you "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.".
Dear ,
We value and appreciate your loyalty more than anything. We are proud to announce we have repaid our government loan – in full, with interest, five years ahead of the original schedule. We realize we still have more to do. Our goal is to exceed every expectation you've set for us. We're designing, building and selling the best cars and trucks in the world. Like the award-winning Chevy Malibu, the all-new Buick LaCrosse, the versatile Cadillac CTS Sport Wagon and the innovative GMC Terrain, just to name a few. As we move into the future, we're thankful to have loyal owners like you. We invite you to learn more about the new GM and join our community, by visiting gm.com. And once again, thank you for your support.
Susan E. Docherty
Vice President, U.S. Marketing
I think what it is, is they have repaid the cash portion, but still need to pay for the stocks that were bought. 60% to US government, 12% to Canadian government.
ReplyDeleteGM is repeating this exact story about repaying in full 5 years ahead of schedule in National Television advertisements.
ReplyDeleteLiars, Liars, gas tanks on fire!
Left Lane News, a car news website is reporting that they may have used TARP money to repay the loans! Taxpayer money to repay the taxpayers.
ReplyDeletehttp://www.leftlanenews.com/top-republican-questions-gm-administration-over-tarp-funds-used-to-pay-back-loans.html
GM needs to just go away ...their cars are crap, factorys are crap and union auto workers are useless too. i would always consider buying a Ford or European car or truck before GM. And with all the taxpayer money that has gone to GM should give every american a car for very cheap as No GM car is worth what it is sold for. Hell id buy a Chinese built car before a GM at least it would be cheap and have better build quality
ReplyDeleteGM returned unspent money that was allocated to them by the Government.
ReplyDeleteGet a loan for 10,000 spend 5,000 and return the remaining unspent 5,000 with a note that says "Paid in Full". I wish my bank worked that way.
I heard on the radio today that they paid back the bailout (taxpayers) money with TARP (taxpayers) money. They robbed Peter to pay Peter.
ReplyDelete