Forbes: GM Still Government Motors
Despite that big advertising campaign suggesting that GM "paid back" all of its government funds, it isn't true, as Forbes explains.
True, they paid back a $6.7 billion loan out of the nearly $50 billion given to it by the government, but even that was out of a $13 billion escrow account to make sure the company survived the massive downturn in business.
Make no mistake - the company in essence has not paid anything back.
True, they paid back a $6.7 billion loan out of the nearly $50 billion given to it by the government, but even that was out of a $13 billion escrow account to make sure the company survived the massive downturn in business.
Make no mistake - the company in essence has not paid anything back.
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