Sometimes, I don't mind being wrong . . .. . . Sometimes.
I did not support the bailouts at all, but General Motors has proven itself to have been quite worthy of the taxpayer help it received.
This morning, they wired the Treasury Department all $8.1 Billion they borrowed from the government (plus interest), and they paid us back 5 years quicker than expected.
They also announced plans to re-open two plants, which will allow the all-electric Chevy Volt to be in showrooms by October of this year. I've been considering making my first automobile purchase this year (especially since I may be moving where car ownership is a necessity), and I will now be giving GM a second look.
Taxpayers still own 61% of GM stock, and nice little profit is expected when the Treasury Department begins selling those shares.
Well done, General Motors.
We may be driving the same car in the same city a year from now!
ReplyDeleteI want one too! (unless they come out w/ the hybrid mini)
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