5 Articles
Treasury reportedly says GM properly used escrow to repay loans

General Motors didn't use another government loan to pay off the much-celebrated $4.7 billion portion of its federal debt. According to a spokesperson with the Treasury Department cited by Bloomberg, the Detroit-based carmaker properly used funds from an escrow account to do the deed. The funds were available for the automaker to use in the event that it ran across any extraordinary expenses, but since the manufacturer decided i

Autoblog Podcast #176 - Beijing, Bailout and Bucks (profits, that is)

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Video: Ed Whitacre tells America GM has repaid U.S. loans in new ad

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

Report: GM to announce repayment of federal loans in full on Wednesday

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.

Report: GM to make another $1B loan repayment

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