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With $33.6 Billion Cash, If GM Can’t Tell the Truth They Can Give Us Our Money Back

Dr_Zinj Wrote: Sep 17, 2012 7:50 AM
Taking government money from one loan to pay off another loan? Is'n't that the same as check kiting?
SicSemperTyrannis Wrote: Sep 17, 2012 8:49 AM
It's a revolving line of credit. Usually causes credit downgrades. It's like transferring the balance on your credit card to another with lower interest, or doing it over and over because you can't make the minimum payment.

Over the weekend General Motors fought back against critics who have been all over the company after published reports say that the government-subsidized car company is spending as much as $90,000 to produce the “breakthrough” electric car, the Chevy Volt. The Volt retails for only $40,000.

Although the company refused to release figures regarding Volt production costs, UPI quotes the company as saying that critics have "allocated product development costs across the number of Volts sold instead of allocating across the lifetime of the program, which is how business operates."

The UPI whines that the Volt has become a...

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