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auto bailout

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    Official: US government sells off last remaining shares in GM
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    According to a report from CNBC, the US government has sold off the last of its remaining shares in General Motors. Secretary Jack Lew reports that $39 billion of the $49.5 billion investment in GM has been recovered, meaning that the investment, on paper, cost taxpayers a total of $10 ...

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    Report: Bailout dealership cuts did their job as profits surge
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    Almost five years after US taxpayers bailed out General Motors and Chrysler, a large majority of their slimmed-down dealership networks are posting soaring profits, Bloomberg reports, and contributing to the US auto industry on track this year to deliver 15.4 million vehicles, the most since ...

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    Opinion: Horsepower Politics
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    The Role Autos Are Playing In Deciding Our Next President He was elected to the U.S. Senate in 1942 and served a dozen years during which his most memorable act was introducing the bill that added the words, "under God" into the Pledge of Allegiance. But to both his friends and foes alike, Homer ...

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    Report: Feds expect greater loss on auto bailout
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    The saga of the U.S. Treasury's involvement with General Motors has become the theater of call and response: the call is Treasury announcing how much it stands to lose on its bailout of GM, the response is a turgid chorus of "Government Motors!" and "They should have died!" peppered with a few ...

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    Report: Lawsuit could unravel New GM
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    A lawsuit that pits hedge funds against creditors is going to trial today, and the outcome could threaten to unravel "New General Motors." In the lawsuit, a trust for Motors Liquidation Co., better known as "Old GM," alleges that certain hedge funds took advantage of a last-minute opportunity ...

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    Video: Obama's latest campaign ads highlight auto recovery
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    As expected, the so-called auto bailout of 2009 has become a major talking point in the run-up to the 2012 Presidential Election. Somewhat surprisingly, however, both sides of the aisle are taking credit for the success seen by General Motors and Chrysler since the two automakers were pushed ...

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    Report: Treasury has no plans to sell remaining GM stock quite yet
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    General Motors stock has been languishing for months, failing to climb past $30 per share since July of last year. Trading at around $22 per share today, the optimism that surrounded the company's emergence from bankruptcy and initial public offering in November 2010 has all but vanished. So it's ...

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    Report: Romney claims credit for auto industry recovery, still opposes bailout
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    The Detroit News reports presidential hopeful Mitt Romney believes he deserves credit for the auto industry's recovery, despite the fact that he adamantly opposes the bailout. While speaking with a Cleveland, Ohio television station, Romney said he deserves "a lot of credit" because he supported ...

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    Report: New polls indicate Americans warming to auto bailouts
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    Even as Republican presidential candidates soldier on in their opposition to the auto industry bailout, new polling indicates that the American public has changed its attitude about the $80 billion spent to help both Chrysler and General Motors restructure. According to The New York Times, a poll ...

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    Report: Book: Ford secretly partnered with Toyota, Honda during economic crisis
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    While the headline might seem shocking, given the circumstances of the 2009 global economic meltdown, it only makes sense. Ford's dealings with two of its biggest competitors were centered around mutual self-preservation in the form of trying to keep a beleaguered supplier base afloat, according to ...

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    Video: Obama reelection campaign launches auto bailout commercial
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    The 2008 economic collapse in the U.S. led to what many experts call the worst recession since the Great Depression. Among the many casualties of the recession was the U.S. auto industry, which (arguably) was saved thanks to $25 billion in cash from the Bush Administration in 2008 and another $60 ...

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    Report: Memo says Bush administration almost pushed GM and Chrysler into earlier bankruptcy
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    2008 was one crazy, almost surreal year. It was the year when the economy took a nosedive, and the U.S. auto industry nearly ceased to exist. One of the last major decisions former President Bush made before he left office was to give Chrysler and General Motors a combined $17.4 billion to keep ...

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    Report: Former Chrysler CEO Nardelli backpedals on bailout comments
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    Former Chrysler CEO Bob Nardelli has performed a curt about face on his comments about the Obama Administration's handling of the auto bailout. The Detroit News reports that Nardelli said that he believes the administration made the correct decision for Chrysler in an email to the publication. ...

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    Report: Nardelli "laments all the time" that Cerberus lost Chrysler
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    The Detroit News reports that former Chrysler CEO Bob Nardelli believes that the Obama Administration didn't need to hand the automaker to Fiat in order for the company to continue on. Instead, Nardelli says that a private equity firm could have easily taken the reins and steered the company back ...

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    Report: Ford yanks bailout ad amidst controversy [UPDATE]
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    Ford has pulled its controversial "Drive One: Press Conference" ad starring owner Chris*, who offered negative commentary of the government-sponsored bankruptcies of crosstown rivals Chrysler and General Motors when asked why he chose to buy a Ford. You'll recall that Ford and its CEO, Alan ...

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    Video: AdSpotting: New Ford commercial slams auto bailout [w/poll]
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    Back in 2009, at the absolute lowest point in the history of the American automobile industry, Chrysler and General Motors declared bankruptcy. The United States government set up a cabinet-level group called The Presidential Task Force On The Auto Industry was formed to allow the government to ...

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    Report: U.S. hesitant to sell its GM stock due to low price
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    The United States government still has a vested interest in the success of General Motors. In fact, the U.S. government is sitting on 500 million shares, which are currently worth about $14.3 billion dollars based on current prices. There is a problem, though, as the U.S. Treasury Department was ...

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    Report: Fiat comes to terms with Treasury to buy Fed's $560M Chrysler stake
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    Fiat has reportedly reached a deal to pay $500 million for the rest of the federal government's share of Chrysler, along with another $60 million for the government's option to buy most of the remaining shares of Chrysler stock. The purchase, which President Obama should officially announce ...

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    Study: Auto bailout saved over 1 million jobs
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    The Center for Automotive Research has released a new study detailing the impact of the auto bailout of 2009. According to The Detroit Bureau, the group found that the government's involvement in the automotive industry saved 1.14 million jobs and $96.5 billion in personal income in 2009. The ...

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    Report: Fed reduces auto bailout loss forecast to $17B
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    The federal government spent roughly $86 billion in taxpayer money to bail out the auto industry. That's a lot of Monopoly money, folks, and when the industry we know and love was at its weakest point, early projections suggested that that the U.S. government and American taxpayers would never ...

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