This headline is misleading: GM pays back government loans from US, Canada from AP/ Yahoo! News. GM still owes alot of money, and the $8.1 billion payback is a small portion of the $61.5 billion it borrowed from the people of the U.S. and Canada. The good news, besides the payback, is that the payback is ahead of schedule. GM’s management seems intent on paying it back as soon as it can. That’s a good thing in itself, but the fact it is doing it is far better.
Plus, GM still employs 40,000 workers, which is a signifigant number of people. That’s nothing to sniff at either. If GM had gone under, that would be alot more people unemployed in regions that would have a hard time dealing with that.
