Sad times for Saab and GM

NEW YORK (AP) — General Motors Co. said Friday it will wind down Saab after talks to sell the brand to Dutch carmaker Spyker Cars collapsed.

GM said in a news release that issues arose during the sale talks that could not be resolved.

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GM to repay the Government

General Motors Co. plans to pay all of its $6.7 billion in government loans by the end of June, Chairman and CEO Ed Whitacre Jr. said Tuesday.

The automaker plans to make quarterly installments starting this month with a $1.2 billion payment, Whitacre said. He said GM could repay the loan sooner but that hasn’t been decided.

GM has received $52 billion total in aid from the government as it navigated bankruptcy protection earlier this year. Of that total, $45.3 billion was converted into equity, giving the government a 61 percent stake in the automaker.

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