They still owe 45 Billion.......
Apparently they did it by slashing their workforce down to 70,000. Government (US and Canada) still owns almost 70% of the company - as you said, about $45 billion. The Canucks still hold an $8 billion stake...the US share $61 billion. The company is losing money though, $3.4 billion in the last quarter of ‘09. The article I got this from shows that the cult of Obama is putting heavy pressure on the company to produce ‘green’ vehicles. Obviously they don’t intend to be a silent partner. I’m all for increasing fuel efficiency to make us less dependent on foreign oil but I’m uncomfortable with it being accomplished by government takeovers and fiat (unintended pun, but I’ll use it). What will happen to choice and innovation?
http://finance.yahoo.com/news/Gas-in-the-tank-GM-repays-81B-apf-1077915316.html?x=0&.v=33