A bad day for Southern Republican Senators

[boomerbust]

DETROIT -- General Motors Co. has repaid the $8.1 billion in loans it got from the U.S. and Canadian governments, a move its CEO says is a sign automaker is on the road to recovery.

GM CEO Whitacre will formally announce the loan paybacks Wednesday at the company's Fairfax Assembly Plant in Kansas City, Kan., where he will also announce that GM is investing $257 million in that factory and the Detroit-Hamtramck plant, both of which will build the next generation of the midsize Chevrolet Malibu
.

GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans.

The U.S. government payments, made Tuesday, came five years ahead of schedule, and Whitacre said they are a sign that the automaker is on its way toward reducing government ownership of the company.
:evilgrin:

[Captain Hilts]

1. We can now go back to the Feds subsidizing Red states that subsidize their carmakers. nt

[FBaggins]

2. What's the connection to senators? n/t

[TNDemo]

3. And southern ones?

There are a lot of republican senators from all over the country.

[NoNothing]

4. Presumably that the facilities will be built in Michigan

And subtly implying that the plant location was politically motivated? I hope that's not the case.

[Lance_Boyle]

6. The new plant will be in Kansas - a 'right to work' state.

Not sure if Kansas has Republican senators or not. If they do, I sincerely doubt they are having a bad day.

[proud2BlibKansan]

7. They aren't new plants; they are existing plants

[Lance_Boyle]

9. Thanks for the info - didn't know GM was ever in Kansas. n/t

[proud2BlibKansan]

10. Been here for as long as I can remember

They make the Malibu.

[Lance_Boyle]

12. Has Kansas only recently gone 'right to work?'

I didn't think the UAW would have allowed GM to set up shop in a union-unfriendly state.

[FBaggins]

15. Since at least the 70s I think

1958 depending on how you define the term.

[proud2BlibKansan]

17. No, KS has been right to work for decades

[rurallib]

8. Gotta think Shelby is shitting bricks over Toyota's situation

sure would have been nicer for them if GM was belly up about now.

[boomerbust]

11. Exactjy

Shelby and that smarmy prick Corker

[Tennessee Gal]

13. Corker is from Tennessee.

Tennessee does not have a Toyota plant. Chattanooga is getting a Volkswagen plant and there is a Nissan plant outside of Nashville.

[boomerbust]

5. If I recall

Many of the Southern Republican Senators were calling for liquidation of GM and Chrysler shilling for their home state foreign automakers.

[Liberal_in_LA]

14. Kick

[LynneSin]

16. GM and Ford are benefitting big time from Toyota's recent downfall

I hope they spend those earnings wisely. Because my money is on Toyota that they will be back on top again in about 5-10 years.