American Morning

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April 23rd, 2010
01:00 PM ET

Motor City back from the brink?

(CNN) – After some rough times, things are looking up in Detroit. GM says it's repaid the billions it borrowed from Uncle Sam, five years ahead of schedule. Chrysler is announcing a first quarter profit this year and Ford has been on a tear for months.

Is it as good as it looks or just better than it was? Rick Newman covers the auto industry for US News and World Report and he joined us on Friday's American Morning to share his take.


Filed under: Business
soundoff (15 Responses)
  1. Hugh

    Outside of the fact that GM repaid the loan with TARP (taxpayer) money, The American taxpayer is still on the hook for 180 billion in worthless stock. If GM goes "belly-up" and doesn't get another bailout ,they could file a chapter 13, 11, or 7 and the people of America will be out all of that money. Thanks alot Bush and Obama.

    April 28, 2010 at 9:24 am |
  2. CNN LIES FOR GM

    CNN LIES FOR GM!
    Since CNN wont report on the news about GM repaying with government money,that means they are lieing for them. CNN you have chosen sides. You have turned against the american taxpayers. This makes you a trader. I have deleted your channel from my tv. You quit reporting news after the gulf war anyway. I remember well how you used to show us the wars and invasions, even arrived on shore before our troops on raids. lol.
    Today I see a different CNN. One that is for rich america. You cater to the elite. So be it! If our government says jump,CNN says "how high".
    CNN....COWARD NEWS NETWORK!
    As a news reporting agency, you are a discrace to america! "I will obey you master obama!"

    April 27, 2010 at 2:56 pm |
  3. Robert

    Go to FOXNEWS and see the whole story. I cant believe CNN has not covered that, but then again, I can

    April 27, 2010 at 10:28 am |
  4. Ken

    GM paid back the government with government TARP money. Ford took nothing and had a great quarter.
    JoAnne and other Leftist's need to get their facts straight.
    JoAnne said, "This country was built on hard work and compassion for others. Not mean-spiritness." I agree with that.
    However, she further states, "The difference between Dems and G-thugs is when we lose, we wait our turn and vote again. When they lose, they threaten to do bodily harm. They are sickos and sore losers." JoAnne, practice what you preach please!

    April 27, 2010 at 7:57 am |
  5. DodgeOwner

    Hey JoAnne, now that it is shown that GM paid that Loan back by taking other TARP funds and NOT from earnings or profits. I just have one question. How does that crow taste? It isn't the TeaParty or GOP threatening violence, it has been and always will be the leftists and anarchists supporting Obama.

    April 27, 2010 at 7:25 am |
  6. Prime

    GM paid the cash back, not from profits, but with more taxpayer cash... AND THEN THEY LAUNCHED A HUGE ADVERTISING CAMPAIGN which convieniently omitted that fact... and where do you suppose the cash came from to run all those ads? It's dishonesty on top of dishonestly... and a crime that what they've done isn't criminal... the scum...

    I'm done with GM products... FOREVER... GM can rot...

    April 26, 2010 at 11:50 am |
  7. ronvan

    SO they paid it back, or did they? IF in fact they have not then why are they not being pulled into court for deliberately lying to the people?

    April 26, 2010 at 8:35 am |
  8. Shane Daly

    I am tired of lies by omission. Sure they paid back their loan, $6B, from the other $43B that we gave them, that we'll never see. My only explanation for this is that all of these elitist big-wigs think that we are all uninformed idiots. Maybe they're right. You want to talk about an industry that needs some regulation; how about Advertising. I mean the FCC will fine you if you accidentally swear on the radio, but when a corporation lies to millions; no problem i guess.

    April 26, 2010 at 7:07 am |
  9. James

    Ford are fantastic as of late, and making really great cars. I'm still not entirely convinced when it comes to GM & Chrysler, but I wish them well, and hope they make a turnaround too.

    April 26, 2010 at 12:33 am |
  10. Steve Hunter

    Should we really believe any company that borrowed that much money actual has repaid it five years ahead of schedule? I personally am skptical and wonder where they got the money to repay the debt? With all the recent shady accounting practices by big business we should all be skeptical.

    April 25, 2010 at 11:54 pm |
  11. J. Collis

    is CNN going to report that GM paid back it's bailout loan by taking money from it's TARP account?????

    April 24, 2010 at 7:45 pm |
  12. john doe

    The work is just starting!!! Good job GM, I'll by American forever!!! USA is the way!!!

    April 24, 2010 at 4:29 pm |
  13. Jim

    They repaid their loan with the money from another tarp fund....

    April 24, 2010 at 8:52 am |
  14. Alan

    CNN please do some research, GM paid their debts back with seperate TARP funds

    April 24, 2010 at 2:01 am |
  15. JoAnne, Dayton, Ohio

    I'm happy for the Motor City and I'm even happier that President Obama is proving the G-thugs and the PeePartiers wrong.

    This country was built on hard work and compassion for others. Not mean-spiritness.

    The difference between Dems and G-thugs is when we lose, we wait our turn and vote again. When they lose, they threaten to do bodily harm. They are sickos and sore losers.

    April 23, 2010 at 2:07 pm |