DETROIT, Mi (HJ)- In a surprising turn of events, General Motors Corp. CEO Fritz Henderson announced today that GM would be avoiding bankruptcy and possibly even be retuning the $15.4 billion in federal loans it received. Mark LaNeve, GM vice president of sales, service and marketing, said in a statement, “By golly, it’s a frickin’ miracle.”
While Wall Street’s reaction has been one of shock and surprise, Mr. Henderson said all it took was a simple call. “I was being driven home at 2:00pm after a long day at the office. I had Westerly take the long way home and in doing so, we passed a telephone pole with a sign stating ‘Fix Your Credit’. I decided to give it a go.” Within a few moments and presses of the keypad, Mr. Henderson was connected with a helpful sales associate named Ramón Greschchi. “In just a few minutes, we were able to restructure GM’s loans and spread the debt out over 3,134,554 credit cards with a 23.9% interest rate."
While many stockholders are wary of the deal, Mr. Henderson was ecstatic about the future of the company and the details of the restructuring, "I’m also getting a free name brand computer with monitor and printer!”
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