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Not so fast, GM...


OSUGT

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I thought the ads touting the payback of the loan ahead of schedule were a bunch of hype. Here is why:

 

http://www.forbes.com/2010/04/23/general-motors-economy-bailout-opinions-columnists-shikha-dalmia.html

 

Cliffs:

 

The loan referred to in commercials is for 6.7B.

 

Total bailout and taxpayer liability is closer to 50B

 

Loan given to GM at below market interest rates.

 

GM paying back out of government funded escrow account.

 

They have yet to turn any sort of profit.

 

They are touting the "payback" to get another loan from Dept of Energy to retool plants.

 

Bottom line is that they are using bailout money to "pay back" their loan. Its a total PR stunt to calm down consumers angry about the bailout.

 

Nice try, GM.

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Been living in a bubble this week and haven't seen much on TV. When I first saw the commercial, it really got me thinking about how it was possible.

since toyota is failing ...gm is trying to use it the best they can.... still wont touch ford at this point, but its government motors still

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