GM’s $1.2-billion loss and paying back U.S. loans
By: Jamie Pert | November 16, 2009
Details regarding General Motors latest figures and plans to pay back their loans have recently shown up on MotorTrend, and by the look of things the plans could be good for both the U.S. and Canadian government.
At the moment it is thought that the plan is to repay the U.S. government back their $6.7 billion loan within two years. GM also owe the Canadian government $1.2 billion, GM plan to pay back this loan within two years aswell.
Times have been pretty hard for General Motors lately, they have also reported a “managerial net loss” of $1.2 billion, this loss occurred between July 10th and September 30th.
If your a reader that loves to get the full details and figures, then I would recommend checking out MotorTrend’s article for a good read. Let us know what you think of this GM loss, and how the government bailed out the auto industry in the comments below.
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