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Speaking to a congressionally-appointed panel in Detroit, car czar Ron Bloom said that the U.S. government does not want to run the operations of General Motors, and reiterated his belief that we will sell our stake in General Motors as soon as possible.
Meanwhile, CEO Fritz Henderson said that he plans to repay the government's loan within six years and would like to take the company public again in 2010. However, given that more than 80% of the original loan to GM has been converted into equity, repaying the loan is really not an impressive accomplishment -- and even that might not even be possible.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
