General Motors
General Motors
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 Old CHEVROLET OK General Motors Porcelain Neon SIGN  US $4,150.00
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 18 General Motors Double sided Cutout steel sign US $100.00
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 23 General Motors Cutout steel sign US $80.00
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 General Motor Commercials from 1960s VInyl Record US $62.99
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 18 General Motors Cutout steel sign US $50.00
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 12 oz Ceramic CORVETTE MUG General Motors US $46.00
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 1937 Ad Hyatt Steel Roller Bearings General Motors GMC ORIGINAL ADVERTISING US $43.95
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 1933 Ad General Motors Pontiac Straight Eight Coupe ORIGINAL ADVERTISING US $42.95
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 1959 Ad Pontiac 60 Ventura Sports Coupe General Motors ORIGINAL ADVERTISING US $42.95
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General Motors Pays US Treasury Back
General Motors has just paid the U.S. Treasury back on some of the loans from the auto bailout. General Motors had been under Chapter 11 bankruptcy. The portions of theue overnight loans GM had received that were paid off were paid well before they were d.
$ 6 billion payment made by General Motors
General Motors wired the final payment Tuesday night on $ 6 More than $ 1 billion went to the Canadian government, and $ 4.7 billion went to the U.S. Treasury. According to Reuters, the U.S. Treasury has confirmed that General Motors has paid its loan obligation a full five years before the maturity date of the loan. Part of the TARP program were the loans made to General Motors and Chrysler.
General Motors to begin mass production of Chevy Volt
Production is in full swing on the plug in hybrid Chevy Volt. It's being made in Detroit, at the Hamtramck plant. According to CNN, General Motors CEO Ed Whitacre has announced investments of $ 136 million into GM's Fairfax Kansas and $ 121 million into the Hamtramck plant for the new Malibu. The Fairfax plant also produces the Buick LeSabre, and the Hamtramck plant produces the Buick LaCerne and Cadillac DTS models, among others.
Not out of the woods just yet
The U.S. and Canadian governments are still majority shareholders of General Motors. The US and Canadian governments, according to The Guardian, both hold 73% of stock shares in General Motors, and the U.S. holding 60 percent. Over $ 50 billion was borrowed by General Motors from the U.S. Treasury in TARP funds, and the plan is that once GM is allowed to go public for stock purchases again, the taxpayers will get back something on their investment. Chrysler is still struggling, though it has begun to make positive steps. The Wall Street Journal reports that Treasury Secretary Tim Geithner will be meeting with Whitacre soon.
Is M back on track?
Many people were dissatisfied with the involvement of the Treasury, and also the fact that one of the largest manufacturers of domestic automobiles slipped so badly. The car manufacturing industry is also one of the largest employers in the US, and thousands were laid off in the wake of the General Motors and Chrysler bankruptcy. Better days may be ahead for Detroit, as the Chevy Volt and this loan repayment may mean GM is back on track.
Resources
Reuters
http://www.reuters.com/article/idUSWALLFE62P20100421
CNN
http://money.cnn.com/2010/04/21/autos/gm_loan_repayment/index.htm
The Guardian
http://www.guardian.co.uk/business/2010/apr/21/general-motors-chrysler-autos
Wall Street Journal
http://online.wsj.com/article/SB10001424052748704133804575197990349307652.html?mod=WSJ_auto_IndustryCollection#articleTabs%3Darticle
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