CEO Fritz Henderson: "We could very well find ourselves repaying the loan in June of next year"
FROM BLOOMBERG: General Motors Co., signaling confidence in its recovery from bankruptcy, said it generated $3.3 billion in cash in the third quarter and plans to start repaying government loans early.
Cash on hand was $42.6 billion at the end of September after a restructuring engineered by the Obama administration, and GM reported progress in cutting jobs and shutting dealers. The loss since leaving Chapter 11 on July 10 was $1.15 billion, GM said today.
The results offered the first glimpse of Detroit-based GM’s financial performance since shedding the remnants of the old General Motors Corp. on July 10 under Chairman Ed Whitacre and Chief Executive Officer Fritz Henderson. MORE>
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