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GM net income $8Billion?
No one talks about all the companies and US Gov that had to eat $40 Billion in GM debt!
The bailout and restructuring helped GM to shed nearly $40 billion in obligations to become debt-free. It was a contrast with Ford Motor Co., which didn't have a bailout and is still paying off $23 billion it borrowed to survive. GM will pay almost no federal corporate taxes for years as one condition of the bailout.
Such success could make it easier for the federal government to sell some of its remaining 26% stake in GM. Doing so at the current stock price would mean the government would lose more than $10 billion on the GM investment acquired in the bailout.
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