GM Said Rumors of a Government Bailout is a 'Myth'
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Embattled automaker General Motors (NYSE: GM) responded to rumors of a government bailout, posting to its website to battle so-called 'myths' about the company. The website address is http://gmfactsandfiction.com
Responding to the 'Myth' that "GM is looking for a government bailout." The company list as 'Fact' - "We are not asking for a bailout, or a handout." Further GM said, "The program under discussion – part of major energy legislation signed in December 2007 — is intended to lower borrowing costs for carmakers and suppliers who are investing in energy-saving technologies. This would be done through direct loans, which must be repaid in full, with interest."
GM has also responded to others 'Myths' like "GM vehicles are not as fuel efficient as comparable imports", "The Volt is vaporware" and "GM can't compete", amongh others.
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