The Mudcat Café TM
Thread #146530   Message #3392829
Posted By: Q (Frank Staplin)
20-Aug-12 - 03:52 PM
Thread Name: BS: $20 million to create jobs in Ukrania
Subject: RE: BS: $20 million to create jobs in Ukrania
GM completed the repayment of its loans from the U.S. and Canadian (Whoopee!) governments by paying the outstanding balances of $4.7 billion and $1.1 billion respectively.
The U.S. government is part owner of GM through the stock.
GM operates worldwide, Factories in Canada, Australia, UK, EU. Profits made by GM eventually will permit them to redeem their stock or governments owning the stock can sell.
(I don't know how much the German government put into Opel to keep that GM branch afloat. Australia? UK? into their branches).

Better than expected progress at GM (and Chrysler) have "materially improved" chances the U.S. government will sell its stake in the companies sooner than expected (L. Summers, White House economic advisor).

"Overall bailout investments in GM, Chrysler and financing by GMAC by the Bush (forgot about, eh?) and Obama administrations will "likely result in some loss.""
The jobs of many GM, Chrysler employees, and countless others whose jobs indirectly depend on these root companies of the U.S. economy, were saved by the bailouts. If they had failed, U.S. and Canadian industry would have been in chaos.
In Canada, Magna and other corporations would have folded.

The auto industry would have become wholy owned by Asian and European interests.