GM steadfast in loan repayment commitment

2009-11-11 16:50:01 (GMT) (WiredPRNews.com - Business, News)

The Chairman of General Motors Co recently stated the company plans to repay government bailout loans in the near future.

The Chairman of the restructured automaker recently spoke about the company’s commitment to repaying back a government loan.

Seguin, Texas (WiredPRNews.com) - General Motors Co. is reportedly remaining steadfast in its commitment to repay the government billions in loans. As reported by the Associated Press (AP), the automaker’s Chairman Ed Whitacre recently discussed the issue while speaking at Texas Lutheran University in Seguin, Texas.

Whitacre is quoted by the AP as stating, “Can GM pay back its loans? You bet…I can’t tell you when, but it won’t be very long.” Whitacre further stated of the decision to keep Opel, its European brand, after previous talks to sell a majority stake in it prior to a change in its financial position, “How could you be a global player and not play all over the globe?…Our financial fortunes had improved enough that we reexamined that.”

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