Skip to main content

bailout

  • 0
    Report: Washington ups GM bailout loss estimate to $11.2B
    1398887040

    Apparently, the cost of the US Treasury's bailout of General Motors is still being calculated. A new report from the Special Inspector General for the Troubled Asset Relief Program, which oversees the TARP initiative, found that the US government has lost more money on its investment than ...

  • 0
    Report: GM's Barra could get big payday now that gov't no longer regulates salaries
    1386970260

    One would expect that as the CEO of one of the largest automakers in the world, the pay would be pretty darn competitive. And for the just-announced incoming CEO of General Motors, Mary Barra, the financial compensation package could well be substantially rosier than it was for her predecessor. ...

  • 0
    Official: US government sells off last remaining shares in GM
    1386626940

    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 ...

  • 0
    Report: Treasury sells almost 1/3 of remaining GM stock
    1384371000

    When we last checked the status of the federal government's stake in General Motors in September, it owned about 7.3 percent - roughly 101-million shares worth about $3.7 billion - of the automaker. In October, the Fed sold almost a third of its remaining stake, or 29- to 30-million shares valued ...

  • 0
    Read This: Architect of GM's bankruptcy plan reveals how company was saved
    1383426900

    Some things are never as they seem. That's especially true when talking about the bankruptcy of General Motors. From afar, it's easy to look at GM's issue being one of decades of mismanagement, poorly built cars, and a certain, too-big-to-fail mindset. But closer to the situation, as the ...

  • 0
    Report: US Treasury reports $9.7B loss on GM shares
    1383074880

    The US Treasury has announced a $9.7 billion loss on the $49.5 billion it used to bailout General Motors in 2009, according to a report from the The Detroit News, which in turn cites the quarterly report from the Special Inspector General of the Troubled Asset Relief Program to Congress. The ...

  • 0
    Report: Bailout dealership cuts did their job as profits surge
    1380655860

    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 ...

  • 0
    Report: PSA Peugeot-Citroën gets EU approval for life-line loan from France
    1375279260

    PSA Peugeot-Citroën has been struggling to offer low finance rates to customers since its banking arm, Banque PSA Finance, had its credit score downgraded, which in turn has made it hard for the French carmaker to compete with brands that offer lower finance rates, such as Volkswagen. The ...

  • 0
    Report: Treasury needs GM stock to be worth $95.51 to break even
    1374852780

    Special Inspector General Christy Romero has delivered another report to Congress on the state of the Troubled Asset Relief Program (TARP) up to June 6 of this year, assessing numbers to the US Treasury's remaining stake in General Motors. After stock sales in February and another a few months ...

  • 0
    Report: Treasury to begin selling off more GM stock
    1368106140

    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 ...

  • 0
    Report: Treasury sold off $489M of GM stock in February
    1363120260

    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 ...

  • 0
    Read This: Bob Lutz pokes fun at Ed Whitacre's GM memoir
    1362404580

    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, ...

  • 0
    Report: Treasury says auto bailout tally drops to $20.3 billion
    1360710000

    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 ...

  • 0
    Report: Ailing Peugeot writes-down over $5.5B in assets
    1360623480

    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 ...

  • 0
    Report: US Treasury signals it will sell off remaining GM shares
    1358544480

    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 ...

  • 0
    Official: GM to buy 200 million shares back from US Treasury
    1355926380

    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 ...

  • 0
    Report: UAW trust demands Fiat pay $342M for Chrysler shares
    1352829660

    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 ...

  • 0
    Report: Bailout and gas prices hot buttons in Presidential debate
    1350485040

    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 ...

  • 0
    Report: WSJ: Feds turned down GM request to sell its remaining shares [w/video]
    1347906600

    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 ...

  • 0
    Opinion: Horsepower Politics
    1347569820

    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 ...

Loading

Loading
Autoblog iPhone App
Shop for a vehicle