General Motors repays government loans, plans $120M investment in Detroit-area plant

[Hot Mega]

General Motors is investing $257 million at two of its factories that will build the next generation of the hot-selling midsize Chevrolet Malibu.

CEO Ed Whitacre was at the factory in Kansas City, Kan., on Wednesday to announce the investment and the company's early repayment of $6.7 billion in U.S. government loans.

GM's investment will be shared by the Fairfax Assembly Plant and the Detroit-Hamtramck plant, which is expected to see about $120 million. Fairfax makes the popular Buick LaCrosse and Chevrolet Malibu sedans. Both are selling well for GM and helping to generate cash.

The plant has been working around the clock to meet with demand. Meanwhile, a new Associated Press poll finds more Americans now say the U.S. makes better-quality vehicles than Asia does.

GM received a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans.

The U.S. government payments, made Tuesday, came five years ahead of schedule, and Whitacre said they are a sign that the automaker is on its way toward reducing government ownership of the company. The payments on the Canadian loans were also made Tuesday.

Continued at link........

http://www.mlive.com/auto/index.ssf/2010/04/general_motors_repays_governme.html

 

[maildude]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

Encouraging if accurate.

 

[lurkingdirk]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

Anyone interested in this topic would be well served by listening to the "This American Life" about the auto industry. I found it very fascinating.

Find it here:
http://www.thisamericanlife.org/radio-archives/episode/403/nummi

 

[cartman24]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

I didn't expect to see this for a long time... Maybe they can improve their terrible quality with the apparent growth in revenue.

 

[lurkingdirk]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

I didn't expect to see this for a long time... Maybe they can improve their terrible quality with the apparent growth in revenue.

They would have to kill off all their workers, union bosses, and quality control people.

Then it would be a cinch.

 

[sdj374]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

I'm sensing a theme here. :dunno:

http://board.freeones.com/showthread.php?t=383595
http://board.freeones.com/showthread.php?t=395203
http://board.freeones.com/showthread.php?t=398803

 

[Hot Mega]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

I'm sensing a theme here. :dunno:

http://board.freeones.com/showthread.php?t=383595
http://board.freeones.com/showthread.php?t=395203
http://board.freeones.com/showthread.php?t=398803

What? The bailout of GM looks to have worked? Or, that the news is reporting the events with GM like they should? Or?

 

[sdj374]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

What? The bailout of GM looks to have worked? Or, that the news is reporting the events with GM like they should? Or?

No. It just seems like you have some obsession with GM. Did you buy a lot of their stock? Are you Bob Lutz? I personally find their cars to be ugly and cheaply made. If you want a good American car, do what the Europeans do and buy a Ford. :2 cents:

 

[Hot Mega]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

No. It just seems like you have some obsession with GM. Did you buy a lot of their stock? Are you Bob Lutz? I personally find their cars to be ugly and cheaply made. If you want a good American car, do what the Europeans do and buy a Ford. :2 cents:

I own a Mystic Cobra (among other non GM cars).

What would me posting those links have to do with me owning their stock anyway???

I just post them because A.) It's news. B.) It has to do with the American economy. C.) It suggests rescue plan worked better than expected so far. D.) To shut up the idiots who blather the socialist and g'ment takeover nonsense.

But if good news about the economy, bailout plan or GM offends... I would just not click on the links..I certainly wouldn't waste my time searching for them.

 

[sdj374]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

I own a Mystic Cobra (among other non GM cars).

What would me posting those links have to do with me owning their stock anyway???

I just post them because A.) It's news. B.) It has to do with the American economy. C.) It suggests rescue plan worked better than expected so far. D.) To shut up the idiots who blather the socialist and g'ment takeover nonsense.

But if good news about the economy, bailout plan or GM offends... I would just not click on the links..I certainly wouldn't waste my time searching for them.

I was just curious about your interest in the successes of GM. One of those threads was from two days ago and the oldest was from the end of February so I didn't have to look too far. As for changing the minds of "idiots who blather the socialist and g'ment takeover nonsense". Good luck with that. :wave2:

 

[Hot Mega]

Re: General Motors repays government loans, plans $120M investment in Detroit-area pl

I was just curious about your interest in the successes of GM. One of those threads was from two days ago and the oldest was from the end of February so I didn't have to look too far. As for changing the minds of "idiots who blather the socialist and g'ment takeover nonsense". Good luck with that. :wave2:

Well, I as any American should be interested in the success of a company or industry the g'ment propped up with tax dollars. That shouldn't be hard to figure.

I don't hope to change the mind of those who are hell bent on being incorrigible idiots. But at least the facts help those who are not incorrigible idiots see their senseless babble for what it is. In most cases, they have to shut up and bide their time by moving on to another lie.