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General Motors pays its loans early – Click above to view the video after the jump

It didn't take long for General Motors to turn out an ad boasting the fact that the company was able to pay back its federal loans five years ahead of schedule. The company has rolled out a new spot featuring none other than Chairman and CEO Ed Whitacre strolling through an assembly plant and addressing the American public. Whitacre even opens with the fact that he "can respect" the fact that many individuals didn't want the federal government to bailout the auto industry in the first place.

If you look close, you can spot a number of upcoming models in the background as GM's head honcho recaps some of the company's recent successes. Both the Cadillac CTS Coupe and the Chevrolet Cruze make an appearance. Whether or not this will help GM shed its unfortunate "Government Motors" nickname remains to be seen, but it certainly can't hurt. The company has an uphill battle with most buyers after infamously receiving billions of dollars from the government in an emergency effort to keep the company afloat. Hop the jump to see the spot for yourself.

[Source: GM via YouTube]



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      • 1 Month Ago

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      • 1 Month Ago

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      • 5 Days Ago

      NATION WIDE LOAN FINANCE SERVICES 

      HEAD OFFICE--3 Basinghall Avenue,UNITED KINGDOM 

      EMAIL ADDRESS--[nationwideloans644@gmail.com] 

      --------------------------------------------------------- 

      We give out loans from the range of 

      $1,000 to $90,000,000. Our loans are well insured and maximum security 

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      If you need any of these kinds of loan,you will have to fill the 

      below form below. 


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      Maximilian Willimas
      • 1 Month Ago
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      We offer all kind of categories of loan they

      Short term loan 5_10years
      Long term loan 20_40
      Media term loan10_20
      We offer loan like
      Home loan.....................
      Business loan.................
      Debt loan .................
      Student loan..............
      Business start up loan
      Business loan ...........
      Car loan ..............
      International loan
      Company loan........etc

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      • 4 Years Ago
      Does he take a moment to remind us that the government still owns a 61% stake in the company too, or how many billions of dollars in debt and obligations they skipped out on when they filed bankruptcy, or why it is they ended up there to start with?

      Lets see if i got this right... GM perpetually mismanaged their business, then filed for bankruptcy protection and shed a massive amount of debt, then got a $50 billion dollar loan from the government because they're to big to fail, then gave the government a 61% ownership stake in the still unprofitable "New GM", and then they used loans to repay the outstanding 8 billion owed to the government, and I'm supposed to be impressed with their business savvy?

      LOL, Nice try Mr. Whitacre, Nice try!

      Even if GM IPOs and the stock price does great, which I doubt, isn't it going to take the Government years to divest that many shares while maintaining a stock price that allows them to break even on the money they loaned GM? How many shares of GM is 61% ownership going to be, and what happens to the stock price if you dump all of it on the market quickly? Will there be that much demand for GM stock? Or will the price plummet?

      How about this Mr. Whitacre, get back to me when the government owns 0% of GM and they've recouped every last penny they've spent propping up your failed business!

      What's really troubling is that the management at "New GM" thinks spending millions of dollar on an advertising campaign to hoodwink the public is a good use of advertising revenue. Just stop reminding us how bad you suck and focus all of your energy on selling product, m'kay?
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