GM pays loan in full with interest!

[sblvro]

hooray GM! I guess my hybrid purchase helped


http://www.gmreinvention.com/index.p...oans_in_full1/

[N_Jay]

So????

When do the bond-holders get their value restored
When does the Union give back (or pay for) their share of GM?
When do the stockholders get their shares back?

[sblvro]

Originally posted by N_Jay
So????

When do the bond-holders get their value restored
When does the Union give back (or pay for) their share of GM?
When do the stockholders get their shares back?

right now!!!

[sblvro]

Originally posted by N_Jay
So????

When do the bond-holders get their value restored
When does the Union give back (or pay for) their share of GM?
When do the stockholders get their shares back?

I'm chatting with the president of GM of North America....right now!!!!

[dustino8]

Smoke and mirrors. Sounds like a PR stunt.

Jamie Dupree

GM Money Game
By Jamie Dupree @ April 21, 2010 1:45 AM Permalink | Comments (3) | TrackBacks (0)
General Motors will make a big splash in the news today by announcing that the automaker will repay several billion dollars loans from the federal government earlier than expected. But it's not really coming out of the GM wallet.


The issue came up yesterday at a hearing with the special watchdog on the Wall Street Bailout, Neil Barofsky, who was asked several times about the GM repayment by Sen. Tom Carper (D-DE), who was looking for answers on how much money the feds might make from the controversial Wall Street Bailout.

"It's good news in that they're reducing their debt," Barofsky said of the accelerated GM payments, "but they're doing it by taking other available TARP money."

In other words, GM is taking money from the Wall Street Bailout - the TARP money - and using that to pay off their loans ahead of schedule.

"It sounds like it's kind of like taking money out of one pocket and putting in the other," said Carper, who got a nod of agreement from Barofsky.

"The way that payment is going to be made is by drawing down on an equity facility of other TARP money."

Translated - they are using bailout funds from the feds to pay off their loans.

For you and me, that might be like using one credit card to pay off another, eh?

"When do you think we'll have really good news from GM?" Carper asked.

"I don't have a crystal ball on that Senator," Barofsky replied.

Most of Uncle Sam's bailout money that was given to GM has now been turned into stock in the U.S. automaker.

"The assumption is that, over time, hopefully the value of the stock will appreciate," said Carper.

Long term that could prove to be a money-making investment for the feds - or if things go the wrong way for General Motors - a big, fat loss for Uncle Sam.

Linky

[sblvro]

Originally posted by dustino8
Smoke and mirrors. Sounds like a PR stunt.

Jamie Dupree

GM Money Game
By Jamie Dupree @ April 21, 2010 1:45 AM Permalink | Comments (3) | TrackBacks (0)
General Motors will make a big splash in the news today by announcing that the automaker will repay several billion dollars loans from the federal government earlier than expected. But it's not really coming out of the GM wallet.


The issue came up yesterday at a hearing with the special watchdog on the Wall Street Bailout, Neil Barofsky, who was asked several times about the GM repayment by Sen. Tom Carper (D-DE), who was looking for answers on how much money the feds might make from the controversial Wall Street Bailout.

"It's good news in that they're reducing their debt," Barofsky said of the accelerated GM payments, "but they're doing it by taking other available TARP money."

In other words, GM is taking money from the Wall Street Bailout - the TARP money - and using that to pay off their loans ahead of schedule.

"It sounds like it's kind of like taking money out of one pocket and putting in the other," said Carper, who got a nod of agreement from Barofsky.

"The way that payment is going to be made is by drawing down on an equity facility of other TARP money."

Translated - they are using bailout funds from the feds to pay off their loans.

For you and me, that might be like using one credit card to pay off another, eh?

"When do you think we'll have really good news from GM?" Carper asked.

"I don't have a crystal ball on that Senator," Barofsky replied.

Most of Uncle Sam's bailout money that was given to GM has now been turned into stock in the U.S. automaker.

"The assumption is that, over time, hopefully the value of the stock will appreciate," said Carper.

Long term that could prove to be a money-making investment for the feds - or if things go the wrong way for General Motors - a big, fat loss for Uncle Sam.

Linky

yup, it just means that they don't need the money afterall and giving it back anyway you look at it. it is not like they are going to be penalized for paying later in the year. did they missed any payments under the TARP compared to other companies in question? no.

[sblvro]

Mark Reuss, President, GM of North America


13:15 [Comment From Father Paul Father Paul : ]
Mr. Reuss: can you please explain how things are different if the governments of US & Canada still hold a tremendous amount of GM equity?
Thursday April 22, 2010 13:15 Father Paul
13:20 Mark Reuss: Father Paul--good question. For one I see a few smiles here! But really this is the first step in what we need to do for all of us taxpayers to make money on the investment in GM--both now on the TARP cash loans--which we did with interest--and the next step is to post positive results in profit and market share growth for successive quarters in order to go public. Lots of work to do--quite humble to get here, and now we need to put the nose to the grindstone and put the results on the board to go public--and then the GOvt's from US and Canada can ideally make money on the sale of stock sold when we are public. That is the reality and action going forward. thx ---but let me tell you it is easier to tell you what is the same about GM---not much at all. thx mark

[dustino8]

Originally posted by sblvro
then the GOvt's from US and Canada can ideally make money on the sale of stock sold when we are public

GM needs a market capitalization of US$66.9-billion for the U.S. Treasury to break even on its investment, the GOA said. The automaker has never in its history been worth that much. At its peak value in 2000, its market cap was US$57-billion.


http://www.financialpost.com/story.h...#ixzz0lbnqsBD2

Don't get me wrong, I'm all for GM pulling through, but it doesn't look good for our governments breaking even on their "investment".

[krygny]

YIPPEE!!

There's more!! We're all collectively the proud owners of $50 billion worth of their dog**** stock.

(I'm just trying to figure out how many shares of worthless stock is worth $50 billion.)

[sblvro]

Originally posted by krygny
YIPPEE!!

There's more!! We're all collectively the proud owners of $50 billion worth of their dog**** stock.

(I'm just trying to figure out how many shares of worthless stock is worth $50 billion.)

aren't we all? of the stock market? not just GM.

[N_Jay]

Originally posted by sblvro


aren't we all? of the stock market? not just GM.

Nope.

Here is the market:

Anyone notice the difference between a "rescued" company and the DJ (mainly non-rescued companies)

[N_Jay]

And this: