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    Report: Treasury poised to sell off 30 million more GM shares
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    The next step in the US Treasury's efforts to eliminate its financial interests in General Motors will involve the sale of 30 million shares of the automaker's stock. The government's move to divest itself of GM is all part of a larger plan to sell the remaining 300 million shares of stock it ...

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    Report: Legal loophole allows GM to avoid paying federal taxes... still
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    The United States tax code will never be accused of being simple or easy to comprehend. With a tangle of exceptions and loopholes, individuals and corporations can work their way around paying their full income tax rate with ease. According to The Detroit News, General Motors continues to avoid ...

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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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    Treasury aims to sell GM shares early
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    According to The Detroit News, the United States Treasury Department is planning on quickly eliminating its shares of General Motors stock rather than trying to maximize the government's return on its investment. The news comes from Austan Goolsbee, chairman of the Council of Economic Advisors, who ...

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    Report: U.S. hires lead bank for General Motors IPO
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    The government of the United States may be actively avoiding any direct involvement in the day-to-day management of General Motors, but that doesn't mean it won't have a say when the time comes for the automaker to go public again. According to The Detroit News, the U.S. Department of the ...

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    Treasury reportedly says GM properly used escrow to repay loans
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    General Motors didn't use another government loan to pay off the much-celebrated $4.7 billion portion of its federal debt. According to a spokesperson with the Treasury Department cited by Bloomberg, the Detroit-based carmaker properly used funds from an escrow account to do the deed. The funds ...

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    Report: Congressional panel doubts GMAC business case, suggests breakup
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    "The panel is deeply concerned that Treasury has not required GMAC to lay out a clear path to viability or a strategy for fully repaying taxpayers." This, according to a Congressional Oversight Panel that was created as a watchdog for the U.S. Treasury's Troubled Asset Relief Program (TARP) ...

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    REPORT: Next Chrysler CEO salary capped at $500,000
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    The next chief executive of Chrysler will be tasked with bringing the company out of bankruptcy, restructuring into a profitable business, repaying government loans (if and when they do so at all), integrating Fiat technology and retaining jobs wherever possible. Oh, and he or she will have to do ...

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    BREAKING: Chrysler lenders, U.S. Treasury reportedly agree to terms [*UPDATED]
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    Details are scarce at the moment, but word is emerging that Chrysler's lenders have reached a deal with the U.S. Treasury Department that could help stave off bankruptcy.According to a Reuters report, word is that the Pentastar's first-lien lenders have agreed to write down the $6.9 billion in ...

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    GM future hinges on success of new debt-for-equity swap offers
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    In addition to announcing the shuttering of Pontiac, General Motors has put forth a new offer to its bondholders to exchange $27 billion in claims for equity in the struggling automaker.As part of the plan, GM is offering its bondholders a 10% equity stake in the company, but worryingly, if 90 ...

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    Henderson says GM bankruptcy decision still in doubt; Hummer decision expected before month's end
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    We were on General Motors CEO Fritz Henderson's teleconference with reporters this morning, and while the proceedings were light on revelatory news (okay, there really wasn't any), some important things were clarified:Namely, Henderson denied that the company has reached a decision on whether to ...

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    Fiat CEO tells U.S. Treasury it can help Chrysler repay loans
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    General Motors and Chrysler have been in meetings with the U.S. Treasury this week to discuss how and when the Detroit automakers can again become viable. Both companies are asking for additional billions to fund their perspective turnarounds, but Chrysler is also defending a proposed partnership ...

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    REPORT: Obama dropping "car czar" in favor of task force
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    While there have been rumors and suggested candidates floated for the so-called federal "car czar" post, it now no longer looks like that position will be filled. That's because President Barack Obama has apparently gone cold on the idea. Instead, new reports suggest that he will look to a select ...

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