Gm Loan Payment
According to The Detroit News, General Motors will announce that it is fully repaying the federal loans it received last summer from both the United States and Canadian governments. In total, General Motors will have paid back about $6.7 billion ($2 billion of which has already been returned) of the $50 billion it received from the U.S., the majority of which was recovered by acquiring a 61-percent share of the automaker.
Last December General Motors began repaying its debt to the U.S. government by making a $1 billion payment to its U.S. debtors and another $192 million to Canada. Company CEO Ed Whitacre promised that the payments would keep coming every quarter until the loan was paid off in June, 2010, and with the first quarter of 2010 coming to a close, T