You linked an article from April, 2010 which is quite out-datedNot one bit.
IIRC, GM had ads that stated they did pay the government loan early. In reality, they still owe big time (totally overall amount).
and Obama, GM, and their backers surely did not tell the taxpayers this.
http://dealbook.nytimes.com/2010/12/16/g-m-buys-back-2-1-billion-preferred-shares/outdated article said:But the U.S. government is still on the hook for the bulk of its investment in GM. Again, the U.S. Treasury owns $2.1 billion in preferred stock and a 60.8 percent stake in the company. GM plans an initial public offering (IPO) as soon as this summer, and the government plans to sell off its interest in the company over time. The better the company does, the more the government looks to recoup. But the prospects for the government getting all its money back don't look promising.
The government still has a 33% ownership, 500 million shares, and is doing it's best to unwind.non-ancient article said:The United States Treasury says General Motors has repurchased the rest of the preferred shares owned by the government for $2.1 billion.
G.M. bought the 84 million shares for $25.50 a piece, 2 percent more than their liquidation value. The company said it would book a $700 million charge related to the buyback early next year.
After G.M.s initial public offering last month netted $13.5 billion for taxpayers, the buyback brings to $23.1 billion the amount the company has repaid out of $49.5 billion the government invested in a bailout.
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Treasury Press Release »
General Motors, like Chrysler, received emergency funds starting at the end of 2008, but the company filed for bankruptcy in mid-2009. Since then, American taxpayers have been, in President Obamas words, reluctant shareholders in the company.
The government still holds more than 500 million shares of G.M. common stock with a value of $16.6 billion.
Yes, overall the government will be in the red if it sold it's 33% ownership right now, but not at the dire levels predicted by many. If the company continues the trend of profit making, (last year making $7.6B profit, beating it's previous record holder in 1997 of $6.7B), then hopefully the stock price will slowly increase as a solid blue-chipper and the government can break even.
Of course those that are un-American may wish it to fail, but let us patriots hope for the success of American companies.