GM paying back another $1.2B from loans

*DGthe3* · 03-26-2010, 07:40 AM

Press Release (via Autoblog)

In keeping with our commitments to the U.S. and Canadian and Ontario taxpayers, GM plans to make its second quarterly loan payment of approximately $1 billion to the U.S. Treasury and $192 million (USD) to Export Development Canada on March 31.

While we have more work to do, GM is building high-quality, award-winning vehicles, our direction is clear and our plan is working. Given the progress the company is making, GM has every confidence that the remainder of the loans will be paid in full by June 2010; five years ahead of schedule.

GMtothecore · 03-26-2010, 07:43 AM

Sounds great! I'm glad to help GM dig out of the hole!

*DGthe3* · 03-26-2010, 07:58 AM

Oh, and here is what the Detroit Free Press ('the Freep') has to say:

General Motors plans to make another round of $1.19-billion loan payments to the U.S. and Canadian governments on Wednesday, the company said today. Last December, the Detroit automaker made similar payments as part of its efforts to pay off the $6.7 billion U.S. and $1.4 billion Canadian government loans. “Given the progress the company is making, GM has every confidence that the remainder of the loans will be paid in full by June 2010; five years ahead of schedule,” GM Chairman and CEO Ed Whitacre said in a statement.

Paying off the loans is only the first step for taxpayers to get their money back from helping GM stay alive last year. The next step will be launching GM as a public company again. GM is expected to release its fourth quarter financial results from last year soon. Today, industry analyst Eric Selle of J.P. Morgan Chase estimated in a note to investors that GM could post $2 billion in earnings before interest, taxes, depreciation and amortization for the fourth quarter. He also said GM’s enterprise value in 2011 could be $67 billion.

GM Chief Financial Officer Chris Liddell earlier this month said it’s possible that GM could launch a public offering later this year if several factors were in place, such as an improved economy. He also said there’s a reasonable chance GM could be profitable this year.

GMtothecore · 03-26-2010, 08:02 AM

Again, that's great news!

FenwickHockey65 · 03-26-2010, 08:23 AM

Quote:

GM Chief Financial Officer Chris Liddell earlier this month said it’s possible that GM could launch a public offering later this year if several factors were in place, such as an improved economy. He also said there’s a reasonable chance GM could be profitable this year.

I will own several hundred shares.

HondaPowered · 03-26-2010, 08:41 AM

Quote:

Originally Posted by FenwickHockey65

I will own several hundred shares.

I probably couldn't afford that many, but maybe 100 or so. Depends on where they start out.

FenwickHockey65 · 03-26-2010, 09:01 AM

Quote:

Originally Posted by HondaPowered

I probably couldn't afford that many, but maybe 100 or so. Depends on where they start out.

I've saved up some money for this. I figure the only direction it can go is up.

HondaPowered · 03-26-2010, 09:10 AM

Quote:

Originally Posted by FenwickHockey65

I've saved up some money for this. I figure the only direction it can go is up.

Hopefully

*TAG UR IT* · 03-26-2010, 09:25 AM

and to all those who complained saying this would never happen....hmpf....

I wonder if this is something CNN would cover. Seems most love tocover the bad, but never the good...

Merc · 03-26-2010, 09:42 AM

I have done my part to support GM. Two thumbs up for paying back loans on time or early.

*Camaro_Corvette* · 03-26-2010, 09:45 AM

Great job GM

Blade · 03-26-2010, 09:51 AM

I need to keep an eye on this and gobble up those shares.

Brokinarrow · 03-26-2010, 09:56 AM

Quote:

Originally Posted by FenwickHockey65

I will own several hundred shares.

I'll definitely be throwing in for some shares.

montej23 · 03-26-2010, 10:26 AM

So how do we buy shares in GM again?

03-26-2010, 07:40 AM	#1
DGthe3 Moderator.ca Drives: 05 Grand Am GT Join Date: Jul 2007 Location: Niagara, Canada Posts: 25,366	GM paying back another $1.2B from loans Press Release (via Autoblog) In keeping with our commitments to the U.S. and Canadian and Ontario taxpayers, GM plans to make its second quarterly loan payment of approximately $1 billion to the U.S. Treasury and $192 million (USD) to Export Development Canada on March 31. While we have more work to do, GM is building high-quality, award-winning vehicles, our direction is clear and our plan is working. Given the progress the company is making, GM has every confidence that the remainder of the loans will be paid in full by June 2010; five years ahead of schedule. __________________ Note, if I've gotten any facts wrong in the above, just ignore any points I made with them __________________ Originally Posted by FbodFather My sister's dentist's brother's cousin's housekeeper's dog-breeder's nephew sells coffee filters to the company that provides coffee to General Motors...... ........and HE WOULD KNOW!!!! __________________ Camaro Fest sub-forum

03-26-2010, 07:43 AM	#2
GMtothecore "That Guy" Drives: Camaro SS...........what else? Join Date: Apr 2009 Location: OOOOOOOklahoma where the wind comes sweepin' down the plains. Posts: 2,360	Sounds great! I'm glad to help GM dig out of the hole! __________________

03-26-2010, 07:58 AM	#3
DGthe3 Moderator.ca Drives: 05 Grand Am GT Join Date: Jul 2007 Location: Niagara, Canada Posts: 25,366	Oh, and here is what the Detroit Free Press ('the Freep') has to say: General Motors plans to make another round of $1.19-billion loan payments to the U.S. and Canadian governments on Wednesday, the company said today. Last December, the Detroit automaker made similar payments as part of its efforts to pay off the $6.7 billion U.S. and $1.4 billion Canadian government loans. “Given the progress the company is making, GM has every confidence that the remainder of the loans will be paid in full by June 2010; five years ahead of schedule,” GM Chairman and CEO Ed Whitacre said in a statement. Paying off the loans is only the first step for taxpayers to get their money back from helping GM stay alive last year. The next step will be launching GM as a public company again. GM is expected to release its fourth quarter financial results from last year soon. Today, industry analyst Eric Selle of J.P. Morgan Chase estimated in a note to investors that GM could post $2 billion in earnings before interest, taxes, depreciation and amortization for the fourth quarter. He also said GM’s enterprise value in 2011 could be $67 billion. GM Chief Financial Officer Chris Liddell earlier this month said it’s possible that GM could launch a public offering later this year if several factors were in place, such as an improved economy. He also said there’s a reasonable chance GM could be profitable this year. __________________ Note, if I've gotten any facts wrong in the above, just ignore any points I made with them __________________ Originally Posted by FbodFather My sister's dentist's brother's cousin's housekeeper's dog-breeder's nephew sells coffee filters to the company that provides coffee to General Motors...... ........and HE WOULD KNOW!!!! __________________ Camaro Fest sub-forum

03-26-2010, 08:02 AM	#4
GMtothecore "That Guy" Drives: Camaro SS...........what else? Join Date: Apr 2009 Location: OOOOOOOklahoma where the wind comes sweepin' down the plains. Posts: 2,360	Again, that's great news! __________________

03-26-2010, 09:25 AM	#9
TAG UR IT www.Camaro5store.com Drives: 2014 ZL1 #705 Join Date: Jul 2006 Location: SA, Texas Posts: 26,544 View My Garage	and to all those who complained saying this would never happen....hmpf.... I wonder if this is something CNN would cover. Seems most love tocover the bad, but never the good... Last edited by DGthe3; 03-26-2010 at 11:38 AM. Reason: double post

03-26-2010, 09:42 AM	#10
Merc In The Circle Drives: 2010 Camaro 2SSRS IOM M6 Join Date: May 2009 Location: Abbotsford BC Canada Posts: 11,310	I have done my part to support GM. Two thumbs up for paying back loans on time or early.

03-26-2010, 09:45 AM	#11
Camaro_Corvette 36.58625, -121.7568 Drives: Team 1LE Join Date: Mar 2008 Location: Earth Posts: 23,710 View My Garage	Great job GM __________________ I am seriously never serious vv V vv Next order of business

03-26-2010, 09:51 AM	#12
Blade Drives: 2016 Camaro 2SS BVM Join Date: Dec 2009 Location: Charlotte Posts: 4,689 View My Garage	I need to keep an eye on this and gobble up those shares. __________________ Formerly owner of: 2012 2SS/RS Build Thread - Totaled by red light runner 2010 LT/RS Build Thread - Traded in for 2012 2SS 2007 Acura TSX 1992 Oldsmobile Achieva V6 1992 Mercury Sable

03-26-2010, 10:26 AM	#14
montej23 Drives: 2011 VR Camaro Join Date: Jun 2009 Location: Arkansas Posts: 974 View My Garage	So how do we buy shares in GM again?

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