bailout

Reuters reports that earlier this week the US Treasury announced the sale of another tranche of General Motors stock. It didn't say how many of the 241.7 million shares it holds in the automaker it would sell, nor exactly when – the discretion apparently intended to keep hedge funds from ...

The Detroit News reports that the US Treasury sold off around 17.2 million shares of General Motors stock in February worth $489 million. The move is part of a plan to rid the government of GM stock by March, 2014. All told, the government has regained $29.8 billion of the $49.5 billion it ...

Any time Bob Lutz gets hired on for a gig putting pen to paper, we're for it. Case in hilarious point is this book review Lutz has penned for the readers of Forbes, wherein Maximum Bob gives good quote after good quote about Ed Whitacre's American Turnaround. Whitacre's book, you'll remember, ...

In December, the US Treasury announced that it was going to sell all of its shares in General Motors within 12 to 15 months. The first tranche of the 500-million total shares was purchased by GM, which took 200 million of them at $27.50 per share. That price represents an eight-percent premium ...

As Europe's economy continues to suffer, so do automakers. One of the latest pieces of bad news comes from French carmaker Peugeot which says it will write down its assets by $5.53 billion. The figure represents almost 29-percent of the company's property, valued at $19.4 billion in June. Peugeot ...

True to its word, the US Treasury Department has taken steps today to rid itself of its remaining 300-million shares of General Motors stock. The Treasury has engaged both JP Morgan and Citigroup Global Markets to handle the sale of the remaining shares, reports the Detroit Free Press. After ...

General Motors announced in a press release today that it plans to buy 200 million shares of its own common stock back from the US Department of the Treasury, for $27.50 per share – some $5.5 billion in total. The transaction is expected to close before the end of the year. The move by the ...

Last month, we brought you the latest news in a rather tenuous ordeal between Fiat and the United Auto Workers over the future of the Italian automaker's stake in Chrysler. The union contended that Fiat failed to make an adequate offer for the 3.3-percent stake that was sought. Fiat offered ...

The pros and cons of the auto bailout and concerns about the rising price of gasoline have been a political football throughout this election season. So, it should come as no surprise that the auto industry was brought up more than a few times in last night's heated presidential debate. Roughly ...

The Wall Street Journal released a report today, which indicated that the U.S. Treasury Department is unwilling to sell off its stake in General Motors, because to do so now would lead to a very large loss on the investment for the government. GM proposed the buyback plan to the Treasury ...