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bailout

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    Report: BMW suing Saab Automobile Parts for $3.2M
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    Saab might be all but dead, but that's not stopping automakers that were once involved with the Swedish brand from attempting to reclaim losses. According to a Fox Business report, BMW has filed a 2.6 million Euro suit ($3.2 million USD) with a Swedish district court against Saab Automobile Parts ...

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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: Watchdog says White House needs exit strategy for GM, Ally
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    Christy Romero, a special inspector general examining the corporate bailouts that came in the wake of 2008's financial crisis, has some advice for the U.S. government: "Treasury should develop a concrete exit plan for GM and Ally." She is referring, of course, to the 30-percent stake that the ...

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    Report: Lutz stumps for Romney despite opposition to auto bailout
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    Bob Lutz has put Republican presidential candidate Mitt Romney's numerous past comments about the automotive bailout behind him, according to Automotive News. During a recent episode of "The Kudlow Report" on CNBC, the former auto executive made it clear he now backs Romney for the 2012 ...

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    Report: Romney vows to dump federal stake in GM quickly
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    With a multi-volume list of issues that a presidential hopeful could discuss, we aren't sure why Mitt Romney keeps circling back to the auto industry bailouts, but here we are again. He's lately swinging his stick at the U.S. Treasury Department for not having sold its 26.5-percent stake in ...

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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: GM CEO Akerson makes less than his peers
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    You wouldn't think $7.7 million is something to complain about, but then again, you're probably not in the running to be CEO of General Motors. Despite the fact that GM is no longer the largest company in the world – or, depending on whom you ask, even the largest carmaker – it's a ...

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    Report: Treasury suggests GM buy back troubled Ally Financial
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    Back when Ally Financial was known as GMAC Financial, the U.S. Treasury gave it $17.2 billion in TARP funds to weather the global economic crisis. GMAC is now Ally Financial, and although it has repaid $5.4 billion of what it was loaned, there doesn't seem to be a clear path for repaying the ...

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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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    Opinion: Romney doubles down on auto bailout opposition?
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    GOP Presidential candidate Mitt Romney is trailing in the polls in Michigan ahead of that state's February 28 primary, and the former Mass. Governor thinks the way to close the gap is to bash the bailout of the auto industry in 2009 that saved General Motors and Chrysler from being broken up and ...

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    Report: Chrysler abandons plan seeking more federal loans
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    The Detroit News reports Chrysler is walking away from the company's pursuit of low-interest Department of Energy loans. The automaker originally applied for an $8.55 billion loan when it was still under Cerberus Capital Management, though the figure had since shrunk to $3.5 billion. The DOE, ...

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    Report: Bush says he'd pull the trigger on auto bailouts again
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    President George W. Bush recently spoke to a gathering of auto dealers in Las Vegas, saying that while he believes in the free market under normal conditions, he doesn't regret the $700 billion bailout fund used to rescue General Motors and Chrysler from the brink of collapse. Bush was quoted as ...

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    Official: Chrysler posts $183M profit for 2011
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    Good news has been in abundant supply for the domestic automakers the last twelve months, and nowhere is that more evident than in the headline to this press release: "Chrysler Group Reports Full Year 2011 Net Income of $183 Million." Now, $183 million isn't exactly a king's ransom in the auto ...

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    Report: GM stock price leads to greater estimate of losses on bailouts
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    The "Government Motors" crowd isn't going to be happy about this: The Detroit News is reporting that the U.S. Treasury now says it has lost an extra $170 million in the auto industry bailout. The culprit? The declining price of General Motors stock. According to the report, GM's stock crested at ...

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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: Romney blames Obama for GM layoffs
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    "The president is going to go after me. I'll go after him." That pretty much sums up every presidential race in recent memory, where it seems attacking the opposing side is just as important as proving your own personal worth. And the 2012 U.S. presidential election, unsurprisingly, is shaping up ...

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    Report: "Old GM" quietly dead and buried
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    After 103 years of stratospheric heights and immeasurable lows, General Motors Corp. has died. Motors Liquidation Co., or "Old GM," as it became known during the 2009 bankruptcy reorganization, was quietly dissolved on Thursday, Dec. 15, taking the company's bad debts and liabilities along with ...

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    Report: Ex-car czar Rattner says Auto Task Force should have pushed for more cuts
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    The government's Auto Task Force was given the difficult task of saving General Motors and Chrysler at a time when the credit markets were frozen and the economy was in chaos. The team ultimately got the job done by ushering the two iconic companies through extraordinarily short ...

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    Report: One year after IPO, GM stock is down by a third
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    It's been a full year since the General Motors Initial Public Offering, and the company's stock isn't performing as well as anyone in Detroit or Washington, D.C. would like. As The Detroit News notes, the stock has dipped by 30 percent from its initial price, thanks in part to troubles in Europe ...

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