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GM Debt - Another $ 1.2 billion for the US: GM pays more debt

GM debt - another $ 1.2 billion for the US
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CEO Edward Whitacre was confident that the entire debt would be paid off by June as planned. That was five years ahead of the actual schedule, he said on Thursday (March 25th) in Detroit, and justified this with the progress that GM was making.

The increased desire to buy helps GM

General Motors slipped into bankruptcy in the middle of last year. The US and Canadian governments helped the automaker get back on its feet and have been majority owners ever since. Among other things, they provided loans of $ 6.7 billion or, in the case of Canada, $ 1.4 billion. GM had made a first installment totaling $ 1.2 billion in December.

GM had rid itself of thousands of employees, entire plants and high costs for health and pensions in the course of the bankruptcy. Whitacre, who came from the telecommunications group AT&T, is now making great strides with the renovation. He sold the Swedish subsidiary Saab , provided the US -Markens Saturn and Pontiac and wants them too Hummer - handling off-road vehicles in an emergency.

W hitacre's goal is to make a profit again in 2010 after five years of losses. The CEO should benefit from the North American buying mood. The car market has been booming on the continent for several months. But the car world is eagerly waiting for the 2009 annual figures, which GM still owes. They should be published in the near future.


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