CEO Dan Akerson: General Motors Should Not Repay $10 Billion Bailout Loss
General Motors CEO Dan Akerson says the auto giant should not pay back the government for the $10 billion taxpayers lost in the GM bailout.
"I would not accept the premise that this was a bad deal," Akerson said at the National Press Club in Washington.
Akerson said the "die was cast" when the Treasury Department decided to take shares and that on balance he considers the auto bailout a "net-net, it was a positive for the U.S. economy."
Akerson also said GM plans to spend $1.2 billion on five U.S. plants.
In June, General Motors announced it will spend $691 million to build and expand its factories in Mexico.