GM then has all the cash, with budgets drawn up with how it will be used.
If the equity funds alone provided enough liquidity to keep the new company running, then GM did the right thing and retired the debt early.
Making the most of every opportunity, even symbolic ones, is the American way. I don't think GM should be criticized for making the most of the story. Even if the story creates an image which differs with reality.
When can the industry and the nation expect the new company to buy out the equity?
Any IPO experts read this blog?
It seems when the full amount of funds infused into the new GM are returned to the Feds, GM will have something to announce.