Posted by: arnegrim | April 21, 2010

Government Motors

Just an update…

“GM got 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…

…GM hopes to repay the remaining $45.3 billion to the U.S. government and $8.1 billion to Canada, money it received in exchange for large stakes in the company. The U.S. government now owns 61 percent of the company and Canada owns roughly 12 percent. GM plans to repay both with a public stock offering, perhaps later this year.”

http://news.yahoo.com/s/ap/20100421/ap_on_bi_ge/us_gm_loans

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