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Liddell Says GM May Repay Debt, Fund Pension in 5 Years: Video

admin — Mon, 22 Nov 2010 02:23:03 +0000

Nov. 18 (Bloomberg) — Chris Liddell, chief financial officer of General Motors Co., discusses the company’s initial public offering and business outlook.
Liddell, speaking from New York with Erik Schatzker and Deirdre Bolton on Bloomberg Television’s “InsideTrack,” says repaying all of the company’s debt and fully funding its pension obligations in three to five years is “critical.” GM returns to public trading today following an IPO that raised more than $20 billion. (Source: Bloomberg)

Duration : 0:7:24

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Loan or Bailout: Detroit Strikes Back – Garage419

admin — Wed, 14 Jul 2010 22:02:40 +0000

Garage419′s first round table debate. Wes Siler, Mike Spinelli and Leo Parente join Matt Farah to discuss the state of General Motors and Chrysler after their recent viability plans were submitted to congress. – Garage419

Duration : 0:16:19

Technorati Tags: bail, Bankruptcy, Chrysler, congress, General, GM, motors, out

Spoof GM Commercial Claims They Repaid Loan

admin — Tue, 11 May 2010 01:41:06 +0000

This General Motors CEO explains a few more detail about how GM repaid their loan in “full with interest”!

Duration : 0:1:4

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How The Did GM Pay Back Its Loans “in Full And Ahead of Schedule”? Well, It Didn’t.

admin — Tue, 04 May 2010 03:18:30 +0000

General Motors CEO Ed Whitacre has bragged in TV commercials and newspaper columns that GM has paid back its bailout “in full and ahead of schedule.”

As with the Pontiac Aztek, an ugly exterior masks an ever darker problem: Whitacre is being fanciful to the point of deceit. GM received $50 billion in TARP funds (never mind that TARP was only supposed to cover financial institutions). About $7 billion of that came in the form of a straight-up, low-interest loan. And about $13 billion came in the form of an escrow account.

So how has GM, which lost $38 billion in 2007 even as it sold 9.4 million cars, paid back its debt? It took money from the escrow account to pay back the $6.7 billion loan.

Do you remember when you were a kid and your parents gave you $20 to buy them a Christmas present? You bought them something worth $3 and pocketed the rest? That’s what GM has just done.

Oh, and do you remember when you hit your parents up for college? GM has applied for a $10 billion, low-interest loan from the government to modernize its plants so its cars will meet new federal mileage standards.

If you think all this constitutes paying back their debt in full and ahead of schedule, you might want to check out the new line of GM cars. And hope that the company’s safety engineers are better at math than their CEO.

Duration : 0:1:35

Technorati Tags: bailout, big three, corporate welfare, dan hayes, general motors, GM, meredith bragg, nick gillespie, payback, reason foundation, reason magazine, reason.com, reason.org, reason.tv, TARP, whitacre

Car Loans Credit Crisis

admin — Sun, 02 May 2010 01:24:17 +0000

Car loans Credit Crisis

Duration : 0:4:26

Technorati Tags: alex, car, celente, Chrysler, credit, crisis, economy, ford, gerald, GM, jim, jones, Keiser, Loans, Max, Money, peter, rogers, schiff, TRoyota