does gm still owe the government money?
Currently, General Motors still owes $14-billion out of the $49.5-billion they received from the U.S. government. The U.S. government owns 27% of the automaker’s stock. General Motors earned a record $7.6-billion in 2011, the highest in its 103-year history. 9 million cars and trucks were sold that year with a revenue of $150.3-billion. 47,500 blue-collar workers will be receiving profit sharing checks of up to $7,000. General Motors say they plan to raise vehicle prices and contain cost inflation in 2012.
Updated on Tuesday, February 21 2012 at 01:42AM EST