Dave

I also heard on CNBC, it's likely they could go public again by the year's end





Here's some positive Chrysler news

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News Alert: Chrysler loses $3.8B in second half of 2009, expects to break even this year

07:28 AM EDT Wednesday, April 21, 2010

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Chrysler Group LLC lost a staggering $3.8 billion from the time it left bankruptcy protection June 10 through the end of last year, but the automaker says its fortunes improved dramatically in the first quarter.



The struggling company, now run by Italy's Fiat Group SpA, cut its net loss to $197 million from January through March and said it posted an operating profit from selling cars and trucks, before interest and taxes.



Moreover, Chrysler said it generated $1.5 billion in cash during the quarter, raising its reserves to $7.4 billion and reducing the likelihood that it will need more government aid. And the company predicted its operations would break even or be slightly profitable this year.





For more information, visit washingtonpost.com:

http://link.email.washingtonpost.com/...HP/997ALJ/1MGLA/36/t

Actually....GM did re-pay all

http://www.marketwatch.com/story/gm-expected-to-announce-payback-of-fed…


SAN FRANCISCO (MarketWatch) -- General Motors Co. Chairman and CEO Ed Whitacre said Wednesday that the automaker has settled its more than $8 billion in debt with the U.S. and Canadian governments.

Reuters
GM's Edward E. Whitacre Jr.
"GM's ability to pay back the loans ahead of schedule is a sign that our plan is working, and that we are on the right track," he said in a statement. "It is also an important first step toward allowing our stockholders to reduce their equity investments in GM."

GM received more than $50 billion from the U.S. government as part of its trip through bankruptcy last year, with $6.7 billion of the total considered a loan.

Canada handed over almost $10 billion in financial aid, including $1.4 billion in loans.

"Nobody was happy that GM needed government loans -- not the governments, not the taxpayers and, quite frankly, not the company," Whitacre wrote in an opinion piece for The Wall Street Journal.

GM had already paid back about $2 billion to the U.S. government and less than half a million dollars to Canada, with sights set on paying off the entire chunk by June.

John Engler, president of the National Association of Manufacturers, praised the company for repaying the loans ahead of schedule.

"While it is still early and we have a long way to go on the road to economic recovery, today's announcement is a positive step," he said.

U.S. Treasury Secretary Timothy Geithner also lauded GM's prompt repayment.

"We are encouraged that GM has repaid its debt well ahead of schedule and confident that the company is on a strong path to viability," he said. "This continued progress is a positive sign for our auto investment - not only more funds recovered for the taxpayer but also countless jobs saved and the successful stabilization of a vital industry for our country."

The U.S. Treasury still holds $2.1 billion in preferred GM stock and owns 61% of the common equity. Earlier this month, GM reported a $4.3 billion loss for its post-bankruptcy era from July through December but said it could turn a profit in 2010, a key step toward its initial public offering.

The U.S. Treasury still holds $2.1 billion in preferred GM stock and owns 61% of the common equity.

So what happens here? Is the government going to sell back the 61% and the $2.1B in preferred stock in the future or will they maintain a controlling share?

The plan has always been to sell it back, preferably at a profit, when GM goes public again, possibly by years end.
They own a few billion shares of Citi as well, again with the plan to sell at a profit later

Good news for GM..

I for one, would like to say I'm sorry for all of my bitching about Gm's bailout! I'm very happy they paid it back!! I didn't think they could or would, but they did! Good for them...

I'll try and wait to bitch about any future bailouts, to see if they actually work first.

Have the banks been paying back?

Again, sorry for bitching about something that turned out positive...

They didn't pay it "all" back. Just the cash loan part of it (about 15%). They still have 50 billion or so in stock to buy back.

Yes, many banks have been paying it back as fast as possible in order to get out from under all the regs and oversight added on for those who took money

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News Alert: Global recovery stronger than anticipated, IMF says
10:47 AM EDT Wednesday, April 21, 2010
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The world economy is rebounding from recession "better than we thought likely" and will expand by more than 4 percent this year, the International Monetary Fund's top economist says.

The United States is projected to grow by 3.1 percent -- better than the 2.3 percent average growth projected by the IMF for the advanced economies.

http://reason.com/blog/2010/04/23/gm-pays-back-tarp-loans-withta[/url]

GM must be under reporting the sales figures or the government is running a tight ship over there.

Let's be honest here.

Either people didn't need a bailout or the pay back is in nothing more than funny money.

Which is it?

latest revised numbers

Government increases cost estimate on GM Bailout

Beat me to it, I read that this morning.

Yep-that's how we get paid back.

With the banks, some did, some didn't, but treasury told them to take it or else. The notion was to restore confidence in the liquidity of the banks at a time when the credit markets were locked up, which spilled over to sectors that had nothing to do with the mortgage related problems.

I'm not sure what the funny money would be; shares were repurchased, and any dividends paid before repurchase, were paid with real money.