Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Chrysler repays last of TARP loans six years ahead of schedule]]>http://www.autoblog.com/2011/07/22/chrysler-repays-last-of-tarp-loans-six-years-ahead-of-schedule/http://www.autoblog.com/2011/07/22/chrysler-repays-last-of-tarp-loans-six-years-ahead-of-schedule/http://www.autoblog.com/2011/07/22/chrysler-repays-last-of-tarp-loans-six-years-ahead-of-schedule/#commentsFiled under: , , ,

Chrysler headquarters

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 retirement trust.

The payment means that Chrysler shed its government obligations a full six years ahead of schedule. The automaker made the move in part to show U.S. car buyers that it is independent of government control, but the payment also means that the automaker no longer has to pay interest rates on the loan.

Assistant Secretary for Financial Stability Tim Massad called the move "a major accomplishment and further evidence of the success of the Administration's actions to assist the U.S. auto industry." He added, "We didn't make the auto interventions to make money, we made them to save jobs - and on that front, we dramatically succeeded."

True enough, but Uncle Sam probably won't receive the $1.3 billion owed by Old Chrysler, which was separated from the current Chrysler during bankruptcy. The department said in a statement that it has the right to recover assets from Old Chrysler, but doesn't expect "a material recovery of those assets."

Chrysler repays last of TARP loans six years ahead of schedule originally appeared on Autoblog on Fri, 22 Jul 2011 08:25:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chryslerchrysler bailoutchrysler tarpfiatgovernment loansold chryslertarp fundsuncle samFri, 22 Jul 2011 08:25:00 EST http://www.autoblog.com/feed/19997369/article-comments.xml http://www.autoblog.com/feed/2011/07/22/chrysler-repays-last-of-tarp-loans-six-years-ahead-of-schedule/19997369/article-detail.xml 19997369 http://www.blogcdn.com/www.autoblog.com/media/2011/05/gyi0057647923_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/05/gyi0057647923.jpg <![CDATA[Detroit, F-150 and interstates among Fortune's "100 great things about America"]]>http://www.autoblog.com/2011/07/03/detroit-f-150-and-interstates-among-fortunes-100-great-things/http://www.autoblog.com/2011/07/03/detroit-f-150-and-interstates-among-fortunes-100-great-things/http://www.autoblog.com/2011/07/03/detroit-f-150-and-interstates-among-fortunes-100-great-things/#commentsFiled under: , ,

2011 Ford F-150
2011 Ford F-150 4x4 SuperCrew - Click above for high-res image gallery

Fortune joined this weekend's parade of all things USA with its list of "100 great things about America." Be forewarned: the list itself is exceedingly dopey. After all, Clif bars, 60 Minutes, GEICO commercials, and LeBron James are among the things that Fortune somehow manages to rank ahead of the men and women collectively serving in our armed forces. (They're number 64, for whatever that's worth. Fortune separates out the SEALs, ranking them #5.)

Thanks to our nation's obsession with them, cars and car-related items dot the list as well. A few even crack Fortune's top 25: Detroit (#14), the Ford F-150 (#11) and interstate highways (#2). NASCAR sits at #51, drive-in movie theaters (the remaining few) occupy the 87th spot, Kevin Spacey's Honda commercial voice-overs rank 41st (not making any of this up) and Exxon Mobil comes in at #88.

To read the whole facepalm-inducing list, head over to Fortune, where you'll also learn that duct tape (#16) ranks ahead of the Bill of Rights (#17).

Detroit, F-150 and interstates among Fortune's "100 great things about America" originally appeared on Autoblog on Sun, 03 Jul 2011 10:03:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>americaforbesford f150fourth of julynascaruncle samSun, 03 Jul 2011 10:03:00 EST http://www.autoblog.com/feed/19982092/article-comments.xml http://www.autoblog.com/feed/2011/07/03/detroit-f-150-and-interstates-among-fortunes-100-great-things/19982092/article-detail.xml 19982092 http://www.blogcdn.com/www.autoblog.com/media/2011/07/2011-ford-f150-lead_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/07/2011-ford-f150-lead.jpg <![CDATA[PSA: IRS lowers mileage deduction for 2010 - will you owe more in taxes?]]>http://www.autoblog.com/2009/12/30/psa-irs-lowers-mileage-deduction-for-2010-will-you-owe-more-i/http://www.autoblog.com/2009/12/30/psa-irs-lowers-mileage-deduction-for-2010-will-you-owe-more-i/http://www.autoblog.com/2009/12/30/psa-irs-lowers-mileage-deduction-for-2010-will-you-owe-more-i/#commentsFiled under:



When gas prices rose in 2008, one of the few bits of good news was that the federal government was bumping up the business mileage deduction to 55 cents per mile. Now that gas prices have stabilized in 2009, the Internal Revenue Service has reportedly decided to cut back on some of its generosity. According to Wallet Pop, the new per mile rate is 50 cents, a nine percent decline from a year ago. The decrease will likely do little to the casual business traveler, but high mileage sales types and pizza delivery specialists will likely take a big hit to the pocket book when Uncle Sam reaches out his considerable hand on April 15.

Those who moved for work or traveled for medical expenses will receive an even bigger cut this year, down from 24 cents to 16.5 cents. It's difficult to understand why medical/travel mileage was cut so drastically, but we keep trying to remind ourselves that the IRS works in mysterious ways. Heck, we didn't even know you could claim moving and medical mileage, so this one is pretty much a bonus to us.

[Source: Wallet Pop | Image: Scott Olson/Getty]

PSA: IRS lowers mileage deduction for 2010 - will you owe more in taxes? originally appeared on Autoblog on Wed, 30 Dec 2009 11:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Internal revenue serviceInternalRevenueServiceirsmilagemileage creditmileage deductionmileage taxMileageCreditMileageDeductionMileageTaxmoving creditmoving taxMovingCreditMovingTaxtaxtax daytax deductiontaxationTaxDayTaxDeductiontaxesuncle samUncleSamWed, 30 Dec 2009 11:00:00 EST http://www.autoblog.com/feed/19297561/article-comments.xml http://www.autoblog.com/feed/2009/12/30/psa-irs-lowers-mileage-deduction-for-2010-will-you-owe-more-i/19297561/article-detail.xml 19297561 http://www.blogcdn.com/www.autoblog.com/media/2009/12/getty-tax-forms-1040-630_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/12/getty-tax-forms-1040-630.jpg <![CDATA[FoMoCo sues feds for $445m in overpaid taxes]]>http://www.autoblog.com/2008/07/12/fomoco-sues-feds-for-445m-in-overpaid-taxes/http://www.autoblog.com/2008/07/12/fomoco-sues-feds-for-445m-in-overpaid-taxes/http://www.autoblog.com/2008/07/12/fomoco-sues-feds-for-445m-in-overpaid-taxes/#commentsFiled under: ,

The idea of having Uncle Sam come after you for back taxes is an unpleasant thought for any American. It's another story altogether when the feds are the ones doling out the Benjamins, though, as Ford is learning. The Blue Oval is officially suing the government for $445 million in overpaid taxes between 1983 and 1989 and again from 1992 to 1994. Ford wasn't overly excited about filing a lawsuit against the IRS, but due to the overwhelming amount of money involved and the fact that Ford can use all the cash it can get its hands on, the company felt it had little choice. The government actually claims to have paid the money in full, but Ford contends that the interest was not fully repaid. Considering that the additional interest was nearly half a billion dollars, we're guessing Ford really overpaid back in the day.

[Source: Detroit News]

FoMoCo sues feds for $445m in overpaid taxes originally appeared on Autoblog on Sat, 12 Jul 2008 12:36:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ford motor companyFordMotorCompanygovernmenttaxesuncle samUncleSamSat, 12 Jul 2008 12:36:00 EST http://www.autoblog.com/feed/1253044/article-comments.xml http://www.autoblog.com/feed/2008/07/12/fomoco-sues-feds-for-445m-in-overpaid-taxes/1253044/article-detail.xml 1253044 http://www.blogcdn.com/www.autoblog.com/media/2008/07/ford_corporate_logo_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2008/07/ford_corporate_logo.jpg <![CDATA[Uncle Sam wants YOU...to pull over]]>http://www.autoblog.com/2007/07/03/uncle-sam-wants-you-to-pull-over/http://www.autoblog.com/2007/07/03/uncle-sam-wants-you-to-pull-over/http://www.autoblog.com/2007/07/03/uncle-sam-wants-you-to-pull-over/#commentsFiled under: ,

Uncle SamThe Orange County (FL) sheriff's department has cranked up its traffic enforcement efforts for the 4th of July week, and it's having a little fun along the way. A deputy dressed in full Uncle Sam regalia stood at an undisclosed location Monday (local6.com wouldn't reveal the specific whereabouts) zapping speeders with his radar gun as a team of motorcycle cops pulled the unlucky motorists over and handed out tickets. According to Local6.com, 275 citations were handed out Monday, with fines set at $80 and up. The costume follies are nothing new for the sheriff's department, which has sent out radar-wielding deputies dressed as Santa's elves, the Grinch, and Leprechauns on holidays past.

[Source: Local6.com]

Uncle Sam wants YOU...to pull over originally appeared on Autoblog on Tue, 03 Jul 2007 20:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>orange county sheriffOrangeCountySheriffspeeding ticketsSpeedingTicketsuncle samUncleSamTue, 03 Jul 2007 20:03:00 EST http://www.autoblog.com/feed/931806/article-comments.xml http://www.autoblog.com/feed/2007/07/03/uncle-sam-wants-you-to-pull-over/931806/article-detail.xml 931806 http://www.blogcdn.com/www.autoblog.com/media/2007/07/unclesam_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2007/07/unclesam.jpg -1 2