It’s Official. Ed Whitacre, former AT&T boss appointed by President Obama to take care of GM, will be staying on to serve as both CEO and chairman of General Motors.

He had been searching for a replacement but settled on the fact that that he probably is the best man for the job. Not that it’s easy work to keep a company running especially one that has just came out of bankruptcy.

Whitacre claimed that GM will be paying off its billions of dollars of government bailout money that it got due to the economic downturn last year. The company is practically owned mostly by the US and Canadian governments and labor unions.

As for the Saab deal, Whitacre claims that there has been no solid offer yet.