Quote of the Day: The Audacity of Optimism Edition
I’m optimistic we can pay off the loans faster than people think. Payment is due in 2015. We want to do it much faster than that.
GM CEO Fritz Henderson breaks our incredulity meter at the Frankfurt Auto Show. And how does Fritz propose pulling this coup off? “Creating value for our shares is the best way the taxpayer will be repaid,” he explains. In other words, Henderson expects GM’s Summer 2010 IPO to reflect the $68B market cap valuation it needs to pay back taxpayer loans. Meanwhile, GM’s Chairman reportedly puts the odds of success on any timeline at 60-40. Paging Optimist Prime . . .
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