Last spring, now-former General Motors CEO Ed Whitacre ruffled a lot of feathers in Washington by airing a TV commercial where he claimed that the bailed-out car company had repaid "government loan in full, with interest, five years ahead of the original schedule," without mentioning that taxpayers still owned 61% of GM. Today, new GM CEO Dan Akerson opted for a more honest approach, not only admitting that his company still owes billions to the government, but that it's going to take "several years" to pay it back.
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Its really worse than that.GM "paid us back" with othe rmoney it borrowed from the Federal government. The entire advertisement was a lie.
ReplyDeleteAND don't forget all the debts they never have to pay back because of the bankruptcy !!!
ReplyDeleteBeen saying this all along. After purchasing several new & used GM vehicles, as much as i hate to admit this - I would NEVER buy another new GM vehicle from obama motors. No chance. GM was losing money, and giving bonuses to their brass, and their outta control unions? Screw 'em.
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