[stormeaston]

updated 2 hours, 24 minutes ago
DETROIT - General Motors Co. said Monday 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 said it will begin repaying $6.7 billion in U.S. government loans with a $1.2 billion payment in December. It plans to repay the debt over the next eight quarters, but could pay it back as early as next year. But the money will come from funds loaned by the government.

GM said its improved performance was fueled by new products including the Chevrolet Camaro muscle car, and the Chevrolet Equinox and GMC Terrain midsize crossover vehicles. The company's top sellers through October were the Chevrolet Silverado pickup truck and Impala full-size car



I don't know.........is just me or what????? I always figured you start to repay loans WHEN YOU MAKE MONEY not when you are still losing money........................Oh wait, I see the governments involved now it all makes sense.

[QuoteWarz]

I just hope they make it through this OK.

[Michael Morris]

Its ALOT easier to repay loans when you dont care if you have money or not. If the run short on Cap the govt will give them more!



MM

[shelbymotorsports]

Call me crazy but isn't GM (thru GMAC) asking the feds right now for more billions?

Sounds like taking a cash advance on your credit card so you can pay your monthly credit card bill.

Steve

[ilmor]

So, are we, as taxpayers, paying GM so they can "pay us back"??? I think so, and I think its a total farce.

[bhcsteve]

stormeaston, on Nov 16 2009, 12:28 PM, said:

updated 2 hours, 24 minutes ago
DETROIT - General Motors Co. said Monday 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 said it will begin repaying $6.7 billion in U.S. government loans with a $1.2 billion payment in December. It plans to repay the debt over the next eight quarters, but could pay it back as early as next year. But the money will come from funds loaned by the government.

GM said its improved performance was fueled by new products including the Chevrolet Camaro muscle car, and the Chevrolet Equinox and GMC Terrain midsize crossover vehicles. The company's top sellers through October were the Chevrolet Silverado pickup truck and Impala full-size car



I don't know.........is just me or what????? I always figured you start to repay loans WHEN YOU MAKE MONEY not when you are still losing money........................Oh wait, I see the governments involved now it all makes sense.

Believe that and "I've got a bridge" to sell.

[2007GT]

They will never actually pay back the money. The government will ALWAYS own GM just like Amtrak.