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REPORT: GM to get $5B, Chrysler $500M from gov't
Is General Motors about to get an additional $5 billlion from the Feds? Will Chrysler be getting another $500 million? The Detroit News seems to think so. Citing Obama Administration sources and a leaked 250-page government report, they say that those figures are accurate. The money will reportedly come in the form of short-term aid via the $700B Troubled Asset Relief Program (TARP). One group we know won't be taking any additional TARP money is Chrysler Financial, allegedly refusing an additional $750M over restrictions on executive ... Read more →
Deadline passes without word on critical GMAC bond-exchange vote Jonathon Ramsey
GMAC, General Motors' finance arm, was granted bank holding status, but there is still no word on whether the bond buyback was successful. The deadline for GMAC to have converted enough of its bonds - ...
Paulson: Automaker aid won't come from financial bailout money Jeremy Korzeniewski
Some U.S. policymakers believe that the domestic auto industry needs a multi-billion $hot in the arm, but the sticking point seems to be where to find the funds. Rep. Barney Frank (D-Mass.) is ...
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REPORT: GM to get $5B, Chrysler $500M from gov't 7 months ago on Autoblog
Is General Motors about to get an additional $5 billlion from the Feds? Will Chrysler be getting another $500 million? The Detroit News seems to think so. Citing Obama Administration sources and a leaked 250-page government report, they say that those figures are accurate. The money will reportedly ...
Deadline passes without word on critical GMAC bond-exchange vote 11 months ago on Autoblog
GMAC, General Motors' finance arm, was granted bank holding status, but there is still no word on whether the bond buyback was successful. The deadline for GMAC to have converted enough of its bonds - said to be 75 percent - into $28 billion in liquidity was on Friday, December 26, at 11:59 p.m. In ...
Paulson: Automaker aid won't come from financial bailout money 1 year ago on Autoblog
Some U.S. policymakers believe that the domestic auto industry needs a multi-billion $hot in the arm, but the sticking point seems to be where to find the funds. Rep. Barney Frank (D-Mass.) is calling for a portion of the financial sector's $700 billion TARP buyout to be apportioned to Detroit, but ...
Autoblog Podcast #156: Paukert comes back for more!
Chris, Dan, and Editor Paukert chat and give each other grief. Merriment ensues.
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