GM Email...Anyone else get this?

Iwantone2 · 04-21-2010, 04:19 PM

I got this in my email a few minutes ago...

slick rick · 04-21-2010, 04:25 PM

Cool, I'll be checking my inbox.

CamaroSkooter · 04-21-2010, 04:39 PM

So now all the tools can quit calling them Government Motors.

justincase_2008 · 04-21-2010, 04:41 PM

WE ARE FREE!!!

CamaroVision · 04-21-2010, 04:41 PM

Quote:

Originally Posted by CamaroSkooter

So now all the tools can quit calling them Government Motors.

why, thought gov still owns 60%?

This morning, General Motors Chairman and CEO Ed Whitacre confirmed that the company has paid back a total of $5.8 billion in federal loans a full five years ahead of schedule. Whitacre attributed the company's ability to make the payment, with interest, to its new strategy and the success of new models like the Buick Lacrosse and Chevrolet Malibu.

GM received some $50 billion in loans from both the U.S. and Canadian governments, with the majority of those funds converted into company stock. The remainder totaled over $8 billion owed to the U.S. and Canadian governments, all of which has now been paid back less than a year after GM emerged from bankruptcy. The news was announced at a press conference at the company's Fairfax, Kansas manufacturing facility, which will soon add production of the hot-selling Chevrolet Malibu, and was attended by Kansas Governor Mark Parkinson and other members of government.

As it is, the federal government still owns 60.8 percent of GM, which means that whenever the company issues its IPO, the tax payers could easily get all of their money back.

Bbrock25 · 04-21-2010, 04:42 PM

Yes I got one and they said

Dear Paul,

My name isn't Paul, no one in my family's name is Paul lol...odd.

sprtplt · 04-21-2010, 04:42 PM

Except that it is a lie. They borrowed 52 billion and are paying back less than 6 billion. Claiming they have repaid the loans in full it a blatant lie. They are using this already in their advertising and I think that is very shady.

Brokinarrow · 04-21-2010, 04:43 PM

Quote:

Originally Posted by CamaroVision

why, thought gov still owns 60%?

Sadly this is still true. Until the public can buy out all of the government's shares, they are still technically government owned. But this does show they're heading in the right direction at least

SharpSS · 04-21-2010, 04:44 PM

Got mine.

Brokinarrow · 04-21-2010, 04:45 PM

Quote:

Originally Posted by sprtplt

Except that it is a lie. They borrowed 52 billion and are paying back less than 6 billion. Claiming they have repaid the loans in full it a blatant lie. They are using this already in their advertising and I think that is very shady.

no, the 6 billion WAS a loan. The rest of the government aid was in the form of the government buying GM's shares. So they DID repay the loan. Now the government needs to start selling its shares back to the public.

slick rick · 04-21-2010, 04:45 PM

Quote:

Originally Posted by Bbrock25

Yes I got one and they said

Dear Paul,

My name isn't Paul, no one in my family's name is Paul lol...odd.

mail merge fail?

Frank in MD · 04-21-2010, 04:48 PM

Quote:

Originally Posted by Brokinarrow

no, the 6 billion WAS a loan. The rest of the government aid was in the form of the government buying GM's shares. So they DID repay the loan. Now the government needs to start selling its shares back to the public.

Not that the truth makes a difference these days however....

CamaroSkooter · 04-21-2010, 04:53 PM

GM can't force the government to sell its shares.

Nevermind that the government owning shares in a publicly traded company was a bad idea to begin with...

guiLT · 04-21-2010, 04:55 PM

This was on the news too..

04-21-2010, 04:19 PM	#1
Iwantone2 Voice Of The Voiceless Drives: CGM 1SS RS Join Date: Feb 2009 Location: OC Cali Posts: 9,610 View My Garage	GM Email...Anyone else get this? I got this in my email a few minutes ago... Attached Images __________________

04-21-2010, 04:25 PM	#2
slick rick SoCal Mayhem Drives: 2010 Camaro 1SS/RS Join Date: Aug 2008 Location: Foothill Ranch, CA Posts: 5,488 View My Garage	Cool, I'll be checking my inbox. __________________

04-21-2010, 04:41 PM	#4
justincase_2008 The Freak Kid Drives: ABM 2010 SS/RS White strips Join Date: Feb 2010 Location: Tampa Posts: 1,212 View My Garage	WE ARE FREE!!! __________________

04-21-2010, 04:42 PM	#6
Bbrock25 Drives: 2010 1SS/RS Inferno Orange Join Date: Jun 2009 Location: East Ky Posts: 704	Yes I got one and they said Dear Paul, My name isn't Paul, no one in my family's name is Paul lol...odd. __________________

04-21-2010, 04:44 PM	#9
SharpSS Drives: Decked Out Inferno Orange 2SS Join Date: Dec 2009 Location: Bluegrass State Posts: 78	Got mine. __________________

04-21-2010, 04:39 PM	#3
CamaroSkooter Retarded One-Legged Owl Drives: 2010 Black Camaro 2SS Join Date: Oct 2008 Location: San Antonio, TX Posts: 9,745	So now all the tools can quit calling them Government Motors.

04-21-2010, 04:42 PM	#7
sprtplt Drives: Corvette Join Date: Sep 2009 Location: South Carolina Posts: 322	Except that it is a lie. They borrowed 52 billion and are paying back less than 6 billion. Claiming they have repaid the loans in full it a blatant lie. They are using this already in their advertising and I think that is very shady.

04-21-2010, 04:53 PM	#13
CamaroSkooter Retarded One-Legged Owl Drives: 2010 Black Camaro 2SS Join Date: Oct 2008 Location: San Antonio, TX Posts: 9,745	GM can't force the government to sell its shares. Nevermind that the government owning shares in a publicly traded company was a bad idea to begin with...

04-21-2010, 04:55 PM	#14
guiLT Tampa Gulf Coast Family Drives: 2001 Maxima Join Date: Oct 2009 Location: Tampa, Florida Posts: 6,585 View My Garage	This was on the news too.. __________________

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