Taxpayers, your partial refund is in. Now quick, make with the pension bailout and EV subsidies. Oh, and be sure to pick up a new Chevy, Cadillac, Buick or GMC as a “thank you” present for this act of patriotic largess.
In a speech at GM’s Fairfax, KS plant [via Automotive News [sub]], Big Ed claimed that:
Our ability to pay back these loans less than a year after emerging from bankruptcy is a sign that our plan for building a new GM is working
And yet The General didn’t wait until its Q1 financials were ready to make the announcement. Having already bragged that Q1 2010 results would represent a “milestone,” wouldn’t it have been better if he could have waved an operating profit or EBITDA concoction, anything other than losses around as proof of his claimed success?