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GM gets second government loan installment of $5.4B

Post Time:Jan 22,2009Classify:Industry NewsView:129

General Motors Corp. says it has received the second installment of its federal loan package.The Detroit automaker says the $5.4 billion from the Treasury Department came Wednesday, bringing the total received so far to $9.4 billion. The company is supposed to get a total of $13.4 billion, with another installment coming Feb. 17. That's when GM is to submit a plan to the government to show how it will become viable, according to a Jan. 21 AP report in the Chicago Tribune.

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