mlhm5 Posted November 16, 2009 Share Posted November 16, 2009 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. - Link Quote Link to comment Share on other sites More sharing options...
Hydro Posted November 17, 2009 Share Posted November 17, 2009 Nice..... Quote Link to comment Share on other sites More sharing options...
Mark B. Morrow Posted November 17, 2009 Share Posted November 17, 2009 I'll say this for the "New GM", they understand the marketing power of saying "we are paying off our government loans", even if they are doing it with more borrowed government money. Quote Link to comment Share on other sites More sharing options...
fordmantpw Posted November 17, 2009 Share Posted November 17, 2009 I'll say this for the "New GM", they understand the marketing power of saying "we are paying off our government loans", even if they are doing it with more borrowed government money. Hey, I took a cash advance on my credit card to make my car and house payments this month. Doesn't that mean my financial health is improving? I really didn't do that! Quote Link to comment Share on other sites More sharing options...
chevys Posted November 17, 2009 Share Posted November 17, 2009 Its a PR stunt. The general public has no clue and it might give them a better perception. Quote Link to comment Share on other sites More sharing options...
Pioneer Posted November 17, 2009 Share Posted November 17, 2009 I'll say this for the "New GM", they understand the marketing power of saying "we are paying off our government loans", even if they are doing it with more borrowed government money. It's not just about the public perception of the company. The sooner they pay them off, the sooner the executives can start receiving bloated salaries and bonuses again. Quote Link to comment Share on other sites More sharing options...
aneekr Posted November 17, 2009 Share Posted November 17, 2009 It's not just about the public perception of the company. The sooner they pay them off, the sooner the executives can start receiving bloated salaries and bonuses again. And very likely, upon receiving their pay increase, those supposedly "talented" GM executives will proceed to bring the company to the brink of extinction once again. Round 2 of this shell game then begins! :wacko: Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted November 18, 2009 Share Posted November 18, 2009 It's not just about the public perception of the company. The sooner they pay them off, the sooner the executives can start receiving bloated salaries and bonuses again. Hey, if they can bring the company back to the point where it no longer needs government money, I would say their executives are entitled to whatever the board of directors feels like approving for them. I'm sure you'll flatly disagree with that though. Quote Link to comment Share on other sites More sharing options...
Reigner92 Posted November 19, 2009 Share Posted November 19, 2009 I read this on Businessweek i think.. I wasn't sure whether to laugh, cry, shake my head, or what... Quote Link to comment Share on other sites More sharing options...
Pioneer Posted November 19, 2009 Share Posted November 19, 2009 (edited) Hey, if they can bring the company back to the point where it no longer needs government money, I would say their executives are entitled to whatever the board of directors feels like approving for them. I'm sure you'll flatly disagree with that though. Paying back loans pennies on the dollar, and with a credit line instead of profits, does not make a good executive and should not be rewarded. EDIT: GM is still pulling a loss. They are not out of the woods yet. Edited November 19, 2009 by Pioneer Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted November 19, 2009 Share Posted November 19, 2009 Paying back loans pennies on the dollar, and with a credit line instead of profits, does not make a good executive and should not be rewarded. EDIT: GM is still pulling a loss. They are not out of the woods yet. I didn't say anything about them deserving it now. Quote Link to comment Share on other sites More sharing options...
ice-capades Posted November 21, 2009 Share Posted November 21, 2009 GM has obviously learned the lesson of doing whatever they can to generate positive PR, justified, accepted or not. Quote Link to comment Share on other sites More sharing options...
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