Digital News Report – General Motors (GM) announced today that they will withdraw their $14.4 billion loan application from the US Department of Energy (DOE).
GM said in a statement by Chris Liddell who is GM’s vice chairman and CFO, that they felt that their overall progress was strong with their global business performance. By withdrawing this loan application the company will achieve their goal of carrying minimum debt.
IPO’s for GM of $23.1 billion was offered during the first nine months of 2010, which has helped to create $4.2 billion in net income. There was $3.4 billion that was invested in US locations and the company said that 11,000 jobs were saved.
By Victoria Brown