04-19-2010, 06:08 PM | #1 |
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GM pays back US & Canadian loans way early
Good news. Then maybe people will realize they were loans...
http://www.freep.com/article/2010041...oans-way-early |
04-19-2010, 06:16 PM | #2 |
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Very good news.
But 5.8 billion is nowhere near the amount of money the government pumped into GM. I do think the taxpayer will get most of their money back though. Which is great news. |
04-19-2010, 06:26 PM | #3 |
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Uh, didn't GM post a $4.X billion USD loss in the last quarter of 2009? How is it even possible that they could think about paying back? Sounds like publicity crap to me. They said they will "could" break even this year. How can you pay off loans when you post losses consecutively and think you MIGHT break even this year?
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04-19-2010, 07:17 PM | #4 | |
CAMARO FAN
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04-19-2010, 07:23 PM | #5 | ||
I used to be Dragoneye...
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They HAVE been paying off the loans, mostly because they have been bringing in profit that they can redirect to their gov't creditors. They WILL pay off the loans, and they WILL be profitable in 2010, barring some sort of natural catastrophe that destroys the planet. |
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04-19-2010, 07:35 PM | #6 |
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good news.
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04-19-2010, 07:36 PM | #7 |
I am the internets.
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Good to hear it!
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04-19-2010, 07:48 PM | #8 | |
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Quote:
Screw that. GM's going for profitability this year. Waiting for the IPO...GM is going to make me some money...to buy one of their cars.
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04-19-2010, 07:53 PM | #9 |
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04-19-2010, 07:58 PM | #10 | |
Moderator.ca
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And look at what was happening in the latter half of 2009. Q3 sales were generally still garbage and they just went through their bankrupcty. While Q4 showed improvement, they also payed $2.6B to the UAW as part of their healthcare restructuring plan (which goes into effect this year and will save them billions each and every year), $1.2B was payed back on their loans, and $1.6B was a "foreign currency re-measurement loss." So they had $5.4B lost in big, rare expenses and a total loss of $4.3B. But perhaps you're right. GM is just spending money they don't have as a PR stunt.
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04-19-2010, 08:00 PM | #11 | |||
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http://www.reuters.com/article/idUSTRE6363V820100407 Quote:
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04-19-2010, 08:00 PM | #12 | |
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I'll believe it when I see it. |
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04-19-2010, 08:00 PM | #13 | |
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Quote:
"GM officials have said the company could break even this year, thanks to the massive cost cuts and reorganization under bankruptcy. " So, on April 7, 2010 they said "there is a good chance we will profit this year" and on April 19, 2010 they said they "could" break even. Hmmm.... Last edited by 8cd03gro; 04-19-2010 at 08:15 PM. |
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04-19-2010, 08:02 PM | #14 | |
General Motors Aficionado
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Quote:
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