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    Report: US Treasury reports $9.7B loss on GM shares
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    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 ...

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    Report: US Treasury sells $877 million in GM stock
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    The United States Treasury has shuffled another 135 to 137 million shares of General Motors stock as it continues its exit from the Detroit-based manufacturer. According to The Detroit News, the July sale netted the government $876.9 million, which was valued between $34 and $37 per share. The ...

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    Report: Treasury needs GM stock to be worth $95.51 to break even
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    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 ...

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    Report: Treasury to begin selling off more GM stock
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    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 ...

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    Report: US Treasury denies pay hikes for GM, Ally execs
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    In December, the US Treasury granted General Motors the rights for the company to once again buy corporate jets and for its executives to fly on them, but neither those execs nor the ones at Ally Financial will get any raises this year. The automaker, worried that top talent might leave for ...

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    Report: Treasury sold off $489M of GM stock in February
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    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 ...

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    Report: Treasury says auto bailout tally drops to $20.3 billion
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    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 ...

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    Official: GM to buy 200 million shares back from US Treasury
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    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 ...

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    Report: Former CEO Whitacre urges Treasury to sell stake in General Motors
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    Former General Motors chairman and CEO Ed Whitacre is in the papers today, specifically the Opinion section of The Wall Street Journal, espousing a strong belief that the U.S. Treasury should get out of GM's hair as quickly as possible. Whitacre's sentiments come, no doubt, as a response to the ...

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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: 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: Judge tosses out suit by Delphi pensioners against Treasury
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    The Detroit News is reporting that a federal judge has thrown out a portion of the lawsuit brought against the federal government by Delphi retirees. The former employees of the automotive supplier brought suit against the federal government after their pensions were terminated in bankruptcy ...

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    Report: Federal auto bailout losses estimated at $14 billion
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    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 ...

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    Report: U.S. breaks even if GM stock hits $133.78
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    According to Neil Barofsky, the treasury department's inspector general, in order for the U.S. government to break even on its investment in General Motors, the company's stock will have to hit at least $133.78 a share. Thanks to the massive auto industry bailout, the government currently holds a ...

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    Lutz: Auto execs are underpaid
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    To clarify, Bob Lutz is specifically talking about General Motors' top 25 execs. They are the ones who have seen their salaries decline by 31%, and their total remuneration packages go down by more than 20%. Said Lutz, "given the rigors of the job and demands and the accountability, I would say ...

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    REPORT: 'Old' Chrysler defaulting on loan obligations
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    Before there was a Motors Liquidation Co, post-bankruptcy GM's hived-off shelter for useless assets, there was Old Carco LLC. That's the company Chrysler built to house its useless assets, and unsurprisingly, it doesn't have good news for unsecured creditors. Old Carco was left with liabilities ...

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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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    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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