Just bare with me here...it is rather Long (focus like a Laser)...It was announced today that
GM paid back all of their Bailout Money plus interest five years early! The amount reported was $8.1
Billion. During the news shows where I saw this reported there was a commercial for
GM where their CEO was touting this accomplishment. He also went on to say that
GM was stronger than ever and were now offering a 5 year, unlimited "Power train" Warranty! Most car makers make this same offer.
- Have you or any of your friends ever gone to your Mechanic & he told you you need a new power train?
- What is a power train?
Oh yea, one other thing...
GM got $62
Billion from the US & Canadian taxpayers.
GM "capitalized
" the remaining $54
Billion and hopes to recoup that $$$ and repay their (total) debt by a Public Stock Offering sometime in the future.
- Meanwhile, we Tax Payers still own about 61% of the once Great GM
So, I need to Google "power train" and find out what the real story is here...and maybe find out what a VAT is....