GM Pay off all debt in June 2010

Detroit: General Motors Co.. plans to pay all debts of U.S. $ 6.7 billion or equivalent to Rp 60.7 trillion to the government of the United States at the end of June 2010. GM Leader and CEO Ed Whitacre admitted, began menyicil payment of U.S. $ 1.2 billion this month. This information is quoted from the Associated Press via MSNBC, in mid-December.

This year, GM had received government grants amounting to U.S. $ 52 billion. Of that amount, U.S. $ 45.3 billion has been converted into equity (ownership in the form of value for money). Thus, 61 percent of GM shares fell to the government.

Whitacre said, GM has not decided when it will release its shares to the public. He explains, offering the public was felt necessary to cover government losses on its investment in GM.

Ed Whitacre took over as CEO after Fritz Henderson resigned on 1 December ago. Whitacre revealed, until now not yet found a replacement Henderson. Despite troubled enough debt problems, he believes GM will find a great leader in the future [read: General Motors CEO Abruptly Resigned Self].

CEO search will be conducted within and outside the company. Although not include the requirement, people who have knowledge of the automobile would take precedence