GM News

GM Pays Back Bailout

10:46 am EST April 21st, 2010 | News | 37 Comments

Link

General Motors has completed repayments totaling $5.8 billion to the U.S. and Canadian governments for loans that helped fund the U.S. automaker’s bailout last year, the company said Tuesday.

Topic: , ,

 

Time To Let GM Die

6:48 pm EST February 17th, 2009 | News | 15 Comments

$30 billion isn’t a bailout. $30 billion is a whole new car company.

General Motors Corp said on Tuesday it could need a total of up to $30 billion in U.S. government aid — more than doubling its original aid — and would run out of cash as soon as March without new federal funding.

GM wants the equivalent of almost 4% of the entire stimulus package that just passed. Not only are they unlikely to repay it, they’re unlikely to make the fundamental changes necessary to adapt to the future and get their house in order. I can’t see any way right now we should be entertaining the idea of propping up GM at this cost.

Topic: , , ,