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GM Gives The Feds An Early Holiday Gift: $140 Million

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General Motors Renaissance Center, Detroit, Michigan

General Motors Renaissance Center, Detroit, Michigan

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Just last week, General Motors announced plans to speed up repayment of billions in loans from the U.S. government. Technically, the company's fast-track, $1 billion-per-quarter payback schedule doesn't kick in until December, but GM is getting a head start on things by returning $140 million right now. The cash comes from a $2.5 billion loan GM was given to pay suppliers, though we're not entirely sure how much of that -- if any -- is included in the $6.7 billion GM owes the U.S. government. GM credits the repayment to shrinking demand from suppliers and the company's improved bottom line. For us, however, the bottom line is that the money's hard to follow.  [DetNews]

 
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