GM payback

[Fast_Eddie]

Originally Posted by piece-itpete

So they don't own 61%?

I'm not a financial expert and couldn't begin to tell you all the things that will have to happen before GM is completely free from the government intervention. That's a subject for something far more researched than I'm willing to make a post on a web site.

But I believe the answer to your question is "Yes...but". Far as I know, the government became the majority holder in the company as part of the deal going into chapter 11. I don't think anything has changed in that regard. As I understand it, the "new GM" will at some point have to offer an IPO at which time the would hope to secure enough investment to offset the government investment. Wow, I'm not even sure I can say that right. That hasn't happened yet, but it doesn't diminish the fact that they are doing better than anyone expected. You can talk about taking TARP money to pay the bailout money, but fact is, they got it done years before anyone thought they would. It's money- they had the TARP and they had the loan. Now they just have the TARP. What line you account it on doesn't matter. If they didn't have they money they'd still be under both. Now they're only under one.

I don't know if that made any sense at all, or if I understand this at all. But that's what I think I know about it. Feel free to correct me.