So GM Has Paid Back It's Loan

[DJMRDARK]

Opponents will cry in their milk:

GM paid back its loan 5 years ahead of schedule.
The US made a PROFIT from the deal.
Buick Lacrosse and Chevrolet Malibu are credited.
Government can help when done correctly.

http://www.autoblog.com/2010/0...inued

[DJMRDARK]

What do you mean?

[gti5dr06]

technically there's still that 45 billion, but a good start for sure

[stacman]

Quote, originally posted by gti5dr06 »

technically there's still that 45 billion, but a good start for sure

I concur, but Canada's happy! Not to mention it's a great step forward.

[Moodyblues]

Oh Noes! The "Socialist" saved thousands of jobs! Oh Noes!

[Mosbius Designs]

In before the idiots of TCL try to bash GM for something.

Good for GM...they needed to succeed

[Sledge]

As a member of the Tea Party, I *demand* that the government loan GM more money so I can continue to use the fantastically funny joke of "Government Motors".

[DJMRDARK]

Quote, originally posted by Moodyblues »

Oh Noes! The "Socialist" saved thousands of jobs! Oh Noes!

But those are socialist jobs!!!!!

[Egz]

Been there, done that, got locked.

http://forums.vwvortex.com/zerothread?id=4855577

[melanotaenia]

are you kidding me? Do you realize how much more money they owe the government? Give me a break.

Post something when they really DO pay back all the money.

And, your title is misleading. You are implying they paid back their loan, when in reality, they paid a small portion of a huge chunk of money that we will most likely never see again.

Crooks.

[DJMRDARK]

That thread was about the upcoming announcement.

This is about the actual announcement and payment.

[Mike!]

Good news, soon to be mired in this thread by people with a special interest in turning it into bad news.

I give it three pages.

[Big Morgan]

Quote, originally posted by melanotaenia »

Crooks.

Attitudes like this is why TCL can't have nice things.

[SVTDanny]

Quote, originally posted by melanotaenia »

are you kidding me? Do you realize how much more money they owe the government? Give me a break. Post something when they really DO pay back all the money. And, your title is misleading. You are implying they paid back their loan, when in reality, they paid a small portion of a huge chunk of money that we will most likely never see again. Crooks.

That didn't take long.

[Mike!]

Quote, originally posted by melanotaenia »

are you kidding me? Do you realize how much more money they owe the government? Give me a break. Post something when they really DO pay back all the money. And, your title is misleading. You are implying they paid back their loan, when in reality, they paid a small portion of a huge chunk of money that we will most likely never see again. Crooks.

What you're saying is factually incorrect. They repaid all of their Loan Payable. The other portion of the former Loan Payable was converted into the government's equity stake during the restructuring process.

And that money will most likely be seen whenever there is an IPO and the government divests its stake.

[Egz]

Quote, originally posted by DJMRDARK »

That thread was about the upcoming announcement. This is about the actual announcement and payment.

Just saving everyone some time by covering all the arguing points.

[Mosbius Designs]

Quote, originally posted by Big Morgan »

Attitudes like this is why TCL can't have nice things.

and the idiot euro fanboys arrive...

it was a good 15 minutes, right?

[Art Vandelay]

What's the whole story here? How much in regular loans did they take, and how much in "bailout" loans did they take?

[SVTDanny]

Quote, originally posted by Big Morgan »

You're way out of line. What about my statement makes me a Euro fanboy?

He was referring to the poster that you quoted.

[Big Morgan]

Ah my mistake.

[Mosbius Designs]

Quote, originally posted by Big Morgan »

You're way out of line. What about my statement makes me a Euro fanboy? I'd like the original poster to explain whose a criminal in this scheme and why.

I was agreeing with your statement, I didn't want to give the other guy the credit of quoting his crap

[HaterSlayer]

Quote, originally posted by Art Vandelay »

What's the whole story here? How much in regular loans did they take, and how much in "bailout" loans did they take?

$8 Billion in loans were paid back. The rest($50 Billion or so) is what the government owns of GM and should be paid back(potentially with profit) when GM goes public.

[VWestlife]

It's "its": GM has paid back its loan.

[axe]

Quote, originally posted by Sledge »

As a member of the Tea Party, I *demand* that the government loan GM more money so I can continue to use the fantastically funny joke of "Government Motors".

The Gov't still owns a big chunk of GM, this loan was a drop in the bucket.

[Big Morgan]

Quote, originally posted by HaterSlayer »

$8 Billion in loans were paid back. The rest($50 Billion or so) is what the government owns of GM and should be paid back(potentially with profit) when GM goes public.

And we TCL'ers are all gonna be good citizens and buy some New GM shares, right?

The "It will never work" negativity of the opposition really boggles the mind. I wish the Bush administration had taken a similar approach with the banks as Obama has with the automakers. While it's not a perfect scheme and I have my doubts that we'll get 100% of the public money back, I feel better knowing that with so much equity in government hands bailout money will not be spent on executive bonuses, retreats, and vacations.

[Craig3Q]

epic vortex thread is epic.

inb4lock

[Surf Green]

So this repayment is going straight to deficit reduction.... right?

[Big Morgan]

Quote, originally posted by Surf Green »

So this repayment is going straight to deficit reduction.... right?

Only after we win the War on Terror

[TigerinColorado]

Quote, originally posted by axe »

The Gov't still owns a big chunk of GM, this loan was a drop in the bucket.

Assuming their IPO stock is worth anything.

[FlashRedGLS1.8T]

Quote, originally posted by MikeNoGo »

What you're saying is factually incorrect. They repaid all of their Loan Payable. The other portion of the former Loan Payable was converted into the government's equity stake during the restructuring process. And that money will most likely be seen whenever there is an IPO and the government divests its stake.

This.

[Turbio!]

Quote, originally posted by TigerinColorado »

Assuming their IPO stock is worth anything.

Given the strong sales and profits of the cars mentioned in the OP, and the good things coming down the pipeline, I'm optimistic that it will be.

[eweu]

Quote, originally posted by MikeNoGo »

And that money will most likely be seen whenever there is an IPO and the government divests its stake.

I hope that happens. I really, really do. But I'm skeptical.

[1.8Tquattro]

Mission Accomplished

[HaterSlayer]

Quote, originally posted by eweu »

I hope that happens. I really, really do. But I'm skeptical.

So you think the Government is going to own GM, or a significant portion, permanently?

[ATL_Av8r]

Quote, originally posted by DJMRDARK »

Government can help when done correctly.

There's a first time for everything.