GM Posts a 1.2B loss

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Nov 16, 2009 | 09:14 AM

97svtgoin05gt

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From: New Jersey

GM Posts a 1.2B loss

And believes that shows progress and that things are headed in the right direction.

http://news.yahoo.com/s/ap/20091116/...ge/us_earns_gm

Nov 16, 2009 | 03:47 PM

Vermillion06

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From: NV

from the article:

Quote:

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.

So they'll be repaying the loans with the loans? On the TV news this morning, they reported that GM was going to repay their govt. loans early. Sounds like the GM PR Dept. put out a sound byte to make it look like they were making progress when they actually aren't...

Last edited by Vermillion06; Nov 17, 2009 at 09:34 AM.

Nov 16, 2009 | 08:53 PM

97svtgoin05gt

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Shelby GT500 Member

Joined: July 21, 2004

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From: New Jersey

Yes, I sense a lot of smoke blowing you know where. I'm not buying it.

Nov 16, 2009 | 10:27 PM

GRAYPNY

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From: NorCal

Let's give them a TRILLION! Maybe that will help.

Last edited by GRAYPNY; Nov 16, 2009 at 10:29 PM.

Nov 16, 2009 | 11:50 PM

2k7gtcs

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So I see GM has changed their accounting practices to that of the Federal Government.

Now if GM could only print their own money they'd be fine, right?