BridgeLoan

The UAW jobs bank is a kind of employment limbo in which workers get paid a portion of their salary but don't work while they wait for their job to open up again. Last year, there were about 3,500 people in this so-called bank of jobs. It is the kind of benefit that can perplex an outsider, because ...

Cue the angels! General Motors reports that it has received the second installment of the $13.4 billion government loan that it was promised by former President Bush late last month. Sure, it may have arrived a few days late, leading GM's coffer-keepers to anxiously check their mailboxes every few ...

General Motors is ringing the alarm bell over a delay in the second installment of its bridge loan. Chrysler faced the same thing when it was waiting on its first installment, but eventually got its money in time. GM puts the delay down to having to fill out a great deal of paperwork and having to ...

The French government has put €6 billion ($7.79 billion USD) on the table for car companies. And as part of the effort to make sure that every drop of the money goes toward maximizing performance and retaining jobs, the French government has asked that Peugeot/Citroen and Renault company ...

GMAC, General Motors' finance arm, was granted bank holding status, but there is still no word on whether the bond buyback was successful. The deadline for GMAC to have converted enough of its bonds - said to be 75 percent - into $28 billion in liquidity was on Friday, December 26, at 11:59 p.m. In ...

Each month, the American Pulse Survey seeks respondents' opinions regarding various political, pop culture and economic issues. Seeing that the auto bailout is a hot topic these days, it is unsurprising that much of the latest survey centered on the $17.4 billion in so-called bridge loans to the ...

President George W. Bush will doubtlessly be remembered for many things things, but his parting legacy may yet be his eleventh-hour pledge of $17.4 billion in low-interest loans to General Motors and Chrysler (Ford Motor Company has said it does not require relief at this time).The funding will ...