GM Plans to Repay U.S. Loan
General Motors Co. plans to begin paying back a $6.7 billion loan it owes the U.S. government starting late this year, putting it on track to potentially repay the entire note by the middle of 2011, said a person familiar with the matter.
But in a move that could be controversial and risky, the car maker plans to use other money it received from the government to pay back the borrowing.
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