Business must be getting better for GM
General Motors Co. says it has repaid roughly $192 million to the Canadian federal and Ontario governments and as much as $1 billion to the U.S. government.
The Associated Press says GM chairman and CEO Ed Whitacre Jr. says in a statement that GM anticipates repaying the entire balance owing by the end of June 2010.
All told, the auto giant owes the U.S. government $52 billion and the Canadian federal and Ontario provincial governments another $1.4 billion. Whitacre says the initial repayments demonstrate the commitment to pay back all the public money used to prop up the ailing company earlier this year.
- with files from The Associated Press