government loans

We haven't heard much from Tesla of late, but that may be because the upstart electric car maker is hard at work getting the Model S to market, as promised, before the end of 2012. The Model S itself is the product of a $465 million loan from the U.S. Department of Energy, but that's not the last ...

Chrysler has taken the final step towards freedom from Uncle Sam by paying off the rest of its government loans. USA Today reports that Chrysler and Fiat paid the Treasury Department $500 million for 98,461 shares and $60 million for shares from a pact with the United Auto Workers' VEBA ...

The federal bailout of General Motors and Chrysler cost U.S. taxpayers roughly $80 billion back in 2009, but only two years later, it appears Uncle Sam will get most of its money back. The Associated Press reports that the Obama Administration now estimates that the bailout will "only" cost ...

It's Official: Chrysler has announced that it has repaid its multi-billion dollar obligations owed to both the United States and Canadian governments. Adding up both loans plus interest, Chrysler has just shelled out a tidy $7.6 billion. The U.S. receives $5.9 billion and Canada will get $1.7 ...

This is very bad. Remember the deal between Hawtai Motors and Saab? Collapsed. According to The Detroit News, the deal, which involved a 29.9 percent stake in Saab in exchange for $172 million, fell apart early Thursday morning. The problem was reportedly that Hawtai wasn't able to obtain all the ...

Remember a few months back when Chrysler/Fiat CEO Sergio Marchionne complained about the terms of the loans received from the government? "Shyster loans" is what he deemed them, a term for which he later had to apologize. But the answer was clear: if Marchionne and his compatriots don't like the ...

Fiat has been in a big, fat hurry to increase its stake in Chrysler, as the Italian automaker has managed to increase ownership from 20 percent to 30 percent so far this year. A report out of Automotive News Europe (via Italian newspaper Corriere della Sera) shows that the stakes may raise once ...

We've all been there: uttering words you almost immediately regret. You feel like an absolute idiot. But the next time that kind of situation comes up – and come up it will – know that you're not alone. Because Sergio Marchionne has had a bit of backtracking to do himself. The ...

You don't have to be a pollster to know that for the most part, the American public remains none too happy about the federal government handing over the people's hard-earned tax dollars to pull General Motors and Chrysler out of the fires of insolvency. Despite the fact that both companies have ...

Wednesday was a busy day for General Motors CEO Ed Whitacre by anyone's definition. He started the day with a trip to The General's Fairfax plant in Kansas to tell the world that GM was paying off the remaining $5.8 billion in government loans five years ahead of schedule and to announce a $257 ...