GM reports $1.2B loss, says it shows progress
11:28 AM Mon, Nov 16, 2009 | Permalink
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General Motors says it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business, according to The Associated Press. The company also says it will begin repaying $6.7 billion in U.S. government loans with a $1.2 billion payment in December. It could pay off the full amount by 2010, five years ahead of schedule, but the money will come from funds loaned by the government. 
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