[101voodoo]

Actually this is a common practice in business. It’s known as a “rollover” or loan renewal. Companies (and Nations) often renew a loan or borrow the amount owed and use proceeds of new loan to retire the old debt thereby keeping the loan current and paying interest only

[BelegStrongbow]

That doesn’t change the fact: the loan was not in fact paid off, it was merely continued. The statement is patent false advertising and intended to mislead the consumer.

[PeterPrinciple]

Actually this is a common practice in business. It’s known as a “rollover” or loan renewal. Companies (and Nations) often renew a loan or borrow the amount owed and use proceeds of new loan to retire the old debt thereby keeping the loan current and paying interest only

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It may be proper but remember, we were told in the news they paid off the loan with PROFITS...............

[Rocky]

Yeah, well maybe. But it doesn’t sound like a rollover to me:

“Allison did not say whether GM, in its ads touting the loan repayment, should have disclosed that it was repaying the government with government funds or that GM is still sitting on about $50 billion in taxpayer money that was originally a loan but later converted mostly to stock.”

Read more: http://www.sfgate.com/cgi-bin/blogs/pender/detail?entry_id=62415&tsp=1#ixzz0mSmRG7Em