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 received in compensation for the 2009 bailout of the then-failing automaker. The US Treasury plans to sell off all remaining stock – around 18-percent of GM – by early next year, yet this 30 mil
Standard And Poors
General Motors' independence from the U.S. government is progressing ahead of schedule as the U.S. Treasury is selling off 30 million of its shares this week just as the automaker gets reinstated to the Stand & Poors 500 Index.
Moody's upgraded Ford's credit rating to investment grade today, the final step for the company to be able to reclaim its Blue Oval. Ford had offered its globally recognized trademark as part of a 2006 loan package. According to the Detroit Free Press, the collateralized logo and the rest of Fod's assets and intellectual property would not return to the automaker until it achieved an investment-grade credit rating with at least two of the three major agencies. Last month, Ford's credit was upgra
No doubt Ford has seen the light shining at the end of its turnaround plan for a while, but now The Blue Oval is getting so close to the daylight it might even be able to smell the fresh air. By the end of 2005, Ford bonds were rated so low by the three major ratings agencies they was floating in the cistern below the basement of junk status. After Mulally came onboard, the company put up everything to get the money to work his plan, from the company logo to its real estate. In order to get it b