General Motors announced last week that they have fully repaid their government loan, interest, five years ahead of schedule. I’m not so sure if that statement is correct, because the old GM (The ones with the toxic asset like Hummer, Saturn, Pontiac, and Saab) received a great deal of money from the government, and is unlikely to pay off that debt. Yes, the NEW GM, the ones with the not so toxic divisions of Cadillac, Buick, Daewoo and such looks to repay their part of the loan, of which is only a fraction of the total. So my question to you is this: Am I completely off base with questioning this, or should I just shut up and be happy for GM?
Here is a video that was shot during their initial bankruptcy filing.
Watch below as Chairman and CEO of General Motors Ed Whitacre talks about the repayment and touches on the future of GM. This commercial is on very heavy rotation at the moment, trying to convince you that GM is out of the woods.