General Motors puts a brake on its debt: the Group of Michigan, in fact, has officially communicated that it withdraw his application for federal funding for the development of electric cars. This is a substantial sum, as is around 14.4 billion dollars in October of 2009 had been applied to the Department of Energy.
Today, little more than a year away, the world's second largest manufacturer announced that it no longer needs the loan because, as said the vice-president, Chris Liddell, "GM has confidence in the company's progress on global markets and aims to reduce the indebtedness of the budget. " While waiting for the government loan, GM had strung together a series of favorable results in 2010, which led to a profit of $ 4.2 billion, which had enabled him to repay all the loans granted by the administration in Washington ' context of the procedure of bankruptcy.
The news of the surrender to the federal loan, meanwhile, pushed up by 1, 5% GM shares to the New York Stock Exchange. The request was part of General Motors in a program of public funding by $ 25 billion in 2008, wanted to help the North American car manufacturers, which at that time lived very difficult moments - in the case of GM - were leading to bankruptcy and closure of certain brands. 
Today, little more than a year away, the world's second largest manufacturer announced that it no longer needs the loan because, as said the vice-president, Chris Liddell, "GM has confidence in the company's progress on global markets and aims to reduce the indebtedness of the budget. " While waiting for the government loan, GM had strung together a series of favorable results in 2010, which led to a profit of $ 4.2 billion, which had enabled him to repay all the loans granted by the administration in Washington ' context of the procedure of bankruptcy.
The news of the surrender to the federal loan, meanwhile, pushed up by 1, 5% GM shares to the New York Stock Exchange. The request was part of General Motors in a program of public funding by $ 25 billion in 2008, wanted to help the North American car manufacturers, which at that time lived very difficult moments - in the case of GM - were leading to bankruptcy and closure of certain brands.
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- DC 2011: GM on DOE loan withdrawal: "It says a lot about the financial health of the company" (28/01/2011)
- UPDATE 1-Canada cuts federal debt with GM revaluation (28/01/2011)
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