Things are finally looking up for GM. On top of news
that Americans again believe the U.S. makes better cars than
Asian companies, the automaker announced it had repaid
$8.1 billion in government loans.
Has the troubled company finally tuned the page? Business writers
analyze the news:
- Great News for Taxpayers, writes Zach Bowman at Autoblog: "As it is,
the federal government still owns 60.8 percent of GM, which means that
whenever the company issues its IPO, the tax payers could easily get all
of their money back."
- Bailout Was Worth It, writes Libby Spencer at the Detroit News:
"This won't create any new jobs but it will preserve existing ones.
Looks like that bailout we all hated turned out to be the right move
- Time to Cut GM Some Slack, writes Fred Meier at USA Today: "Consider
that at least they didn't burn through that money. That's good news .GM
also has new products in showrooms, vehicles in the pipeline to fill
some glaring gaps (like the aged Cobalt) and they can still make cars as
good as that CTS-V. Maybe we will see the rest of that money."
- This Is a Brand New GM, boasts GM CEO Ed Whitacre in the Wall Street
Journal: "Following the initial crisis and the bankruptcy of the old GM
last year, a new GM has emerged as a leaner, stronger company. We have
eight new members on our 13-member board of directors. Twelve of the top
13 senior leaders are new to GM (from places outside the industry such
as Microsoft and AT&T) or in new jobs at the company. You can feel a
renewed energy and commitment at GM. Our new vehicles are generating
sales, and these sales are allowing us to make investments and create
- GM Still Has to Improve Quality, writes Douglas McIntyre at 24/7 Wall
Street. He dismisses the latest poll citing strong approval of American
cars: "The headline of the Associated Press-GfK Poll is that Japanese
cars have slipped behind their American rivals. Nothing could be further
from the truth... If the news about Toyota is left out of the research,
the results paint a completely different picture. Fifteen percent in
the March poll said Toyota makes the best cars, down from 25 percent who
said so in 2006."
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