GM, White House misleading public over loan repayment Posted by Staff
A handful of lawmakers are accusing General Motors of misleading the public by continuing to claim as part of its advertising blitz that the auto giant has repaid its government loans "in full."
General Motors has been running ads on all the major networks claiming the company repaid its $6.7 billion U.S. government loan "with interest five years ahead of the original schedule." General Motors Company CEO Ed Whitacre can be seen in the ad walking through an auto plant as he touts the company's progress.
But lawmakers, and even the inspector general for the bailout fund GM borrowed from, point out that General Motors only repaid the bailout money by dipping into a separate pot of bailout money. They say the company did not actually use its own earnings to make the early payment and are questioning why executives are making such a big deal out of it...
Bob Huff, California State Senator Dwight Mckissic, Pastor at Cornerstone Baptist Church Delman Coates, Pastor at Mt. Ennon Baptist Church Suzanne Somers
Del.icio.us
Facebook
Fark
Furl
Google
Newsvine
Reddit
Yahoo
