Search this Topic:
Apr 22 10 6:18 PM
ABC News reports, “General Motors today repaid $8.1 billion in government loans, five years ahead of schedule and nine months after the troubled auto giant declared bankruptcy, signaling that the auto maker may be on the path to profitability.” Announcing the payment to a plant full of GM workers, Chairman Ed Whitacre (who, we should note, was a retired phone company man last June) announced, “As of today, GM has repaid in full and interest the loans made last July by the U.S. Treasury and Export Development in Canada.”
The development does not mean that taxpayers have gotten back every dime put into America’s largest automaker. The AP notes, “The U.S. government still owns 61 percent of GM,” with the Canadian government retaining a much smaller share. The government gave GM $8.1 billion in loans, and spent about $45.3 billion buying majority ownership of the new company as it emerged from bankruptcy. The government will get that money back only if it can sell the stock at a profit when GM finally goes public, at a date that has a yet to be determined.
Whitacre, the AP reports, “said he expects an initial public offering in late 2010 or early 2011. GM officials said it likely will take years for the governments to divest themselves fully.” However, “he said there is a ‘high’ possibility that taxpayers will end up being fully compensated” when that sale happens.
May 15 10 6:58 PM
PHOENIX - The doctor accused of administering a powerful anesthetic that killed pop star Michael Jackson helped stabilize a young woman who fell unconscious on a US Airways jet on Saturday.
Dr. Conrad Murray found the woman with a very weak pulse aboard Flight 641 from Houston, hooked her up to an IV line he got from the plane's medical bag and monitored her while the jet was diverted to Albuquerque, N.M., his spokeswoman said.
"We're not surprised," said Miranda Sevcik, from the legal team representing Murray in his involuntary manslaughter case. "He's a good doctor, we've always said he was a good doctor, and that's what good doctors do is save people."
US Airways confirmed that a doctor on the flight helped stabilize a patient who had a medical emergency. Spokesman Todd Lehmacher said it was against company policy to identify the passenger or the doctor on board who helped stabilize her.
Aug 10 10 6:01 PM
Aug 11 10 6:58 AM
© 2017 Yuku. All rights reserved.