DETROIT — General Motors Co. says it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business.

The company also says it will begin repaying $6.7 billion in U.S. government loans with a $1.2 billion payment in December. It could pay off the full amount by 2010, five years ahead of schedule, but the money will come from funds loaned by the government.

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gatekeeper

  ?   +5 0

Someone explain this to me: "..[GM] will begin repaying $6.7 billion in U.S. government loans ....but the money will come from funds loaned by the government." Huh??

 

Posted 4 months ago  Reply  Link Abusive

AverageBear

  ?   +4 0

I'll never buy a car from a company that is owned by the UAW. This union helped destroyed GM, and now owns, what, 10-15% of it? How the HELL did that happen? Put your fingers in your ears, close your eyes and keep repeating: 'hope and change, hope and change'.....

 

Posted 4 months ago  Reply  Link Abusive

Digital_2 replying to gatekeeper

  ?   +4 0

I believe the expression is "throwing good money after bad." It's the Obama economic policy.

 

Posted 4 months ago  Reply  Link Abusive

hackwannabe replying to gatekeeper

  ?   +2 0

I'm with ya,

"The company also says it will begin repaying $6.7 billion in U.S. government loans with a $1.2 billion payment in December. It could pay off the full amount by 2010, five years ahead of schedule, but the money will come from funds loaned by the government."

er....Hey Congress and Nobama. I need some help to pay MY loans!

 

Posted 4 months ago  Reply  Link Abusive

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