Study: GM, Chrysler bailouts generated 8-to-1 savings

1:18 pm U.S. ET | Dec. 9, 2013
Taxpayers are likely to lose nearly $14 billion on the bailouts of General Motors and Chrysler, but an analysis released today by the Center for Automotive Research says the intervention should still be seen as a success....
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U.S. sells last of GM shares, ending 'Government Motors' era

4:22 pm U.S. ET | Dec. 9, 2013
The Treasury on Monday sold its last shares of General Motors stock, ending more than four years of government ownership in the nation's largest automaker at a loss of about $10.5 billion to U.S. taxpayers. The government said in a statement that it recouped $39 billion of its original $49.5 billion investment into GM. Company executives and dealers say that the stigma of federal ownership, which earned GM the derisive nickname “Government Motors,” has hurt sales....
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Buffett: Auto bailout was the right move

12:01 am U.S. ET | Dec. 2, 2013
Investment demigod Warren Buffett says the auto bailout crew got it right....
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GM's new problem: Too much dough

12:01 am U.S. ET | Dec. 2, 2013
General Motors executives bristled at the nickname Government Motors after the government bailed out the company in 2009 and owned a large chunk of GM stock....
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GM investors expect buybacks, dividend after U.S. exit

3:06 pm U.S. ET | Nov. 25, 2013
General Motors investors are focused on the possibility of stock buybacks or a dividend on common shares now that the Treasury has outlined its plans to sell the rest of its GM stake by year end, analysts said....
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U.S. plans to sell remaining 31.1 million GM shares by year end

9:50 am U.S. ET | Nov. 21, 2013
The Treasury Department said it expected to sell its remaining 31.1 million shares of General Motors by the end of the year, a plan that may leave taxpayers with a shortfall of about $10 billion on the automaker's 2009 bailout....
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For some, the jury's still out on the auto rescue

12:01 am U.S. ET | Nov. 17, 2013
Was saving General Motors and Chrysler worth the taxpayer dollars spent? That's the question pundits and politicians tend to focus on as they begin filling out their final scorecards on the auto industry bailout....
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GM shares sold for $1.2 billion by U.S. government in October

6:29 am U.S. ET | Nov. 13, 2013
The U.S. Treasury Department said net proceeds of its sales of General Motors shares totaled about $1.2 billion last month as the government winds down its investment in the automaker....
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How the new GM was born: Alix's version

12:01 am U.S. ET | Nov. 4, 2013
Ousted General Motors CEO Rick Wagoner is cast in a sympathetic light in corporate turnaround specialist Jay Alix's breathless first-person account in Forbes of how the plan to restructure GM took shape in 2008 and 2009....
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U.S. now expects to lose $9.7 billion on GM stock

12:11 pm U.S. ET | Oct. 29, 2013
The Treasury now expects to lose $9.7 billion selling the General Motors stock it received in 2009 after its bailout of the automaker....
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U.S. unloads $570 million in GM shares

8:56 am U.S. ET | Oct. 11, 2013
The U.S. Treasury said it sold another $570.1 million worth of GM common stock last month as it moved toward exiting its holdings in the company by the end of March 2014....
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GM pays $50 million to end lawsuit over 2009 hedge fund deal

1:24 pm U.S. ET | Oct. 1, 2013
General Motors has agreed to pay $50 million to end long-running litigation over a secretive deal that was struck on the eve of the automaker's 2009 bankruptcy that critics said favored hedge funds....
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U.S. Treasury cuts stake in GM to 7.3%

10:16 am U.S. ET | Sept. 18, 2013
The federal Treasury has sold another block of shares in General Motors, reducing its stake to 7.3 percent as it moves toward exiting its holdings in the automaker by the end of March....
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GM rightly favored Delphi UAW pensions over salaried, Rattner says

10:13 am U.S. ET | Sept. 11, 2013
Steven Rattner, the former auto czar who led the government bailout of General Motors and Chrysler, says GM was right to boost pensions of hourly retirees at Delphi while cutting off salaried retirees because it had previously fully funded the salaried retirees' pensions and needed to avoid angering the UAW....
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Lawrence Summers, key player in auto bailout, now candidate for Fed chairman

11:04 am U.S. ET | Aug. 22, 2013
Forged in the crucible of the worst economic meltdown in eight decades, President Obama's trust in Lawrence Summers -- one of the key players in the administration's auto bailout -- is the main reason why he's one of two leading contenders to be the next Fed chief even as some lawmakers bristle at his abrasive manner and his ties to the financial industry....
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Berkshire Hathaway, other big investors hike GM stakes

10:11 am U.S. ET | Aug. 15, 2013
Harris Associates, State Street and Berkshire Hathaway led purchases of GM stock last quarter as the U.S. government continued selling the company's shares and GM rejoined the Standard & Poor's 500 Index....
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GM was urged by U.S. to improve Delphi hourly worker pensions, watchdog says

3:54 pm U.S. ET | Aug. 15, 2013
The United States government urged General Motors to improve pensions of some Delphi Automotive union retirees while cutting those of salaried workers to help ensure a speedy emergence from a GM bankruptcy, the watchdog of the Troubled Asset Relief Program said....
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U.S. Treasury sells another $877 million in GM stock

3:05 pm U.S. ET | Aug. 13, 2013
The Department of Treasury continues to divest its shares in General Motors, following its pledge last December that it would fully divest from its investment in GM within 12-15 months. The Treasury received total net proceeds of about $877 million from sales of GM common stock in July, the department's monthly report to Congress said....
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Canada seeking bankers for sale of GM stake, report says

2:06 pm U.S. ET | Aug. 1, 2013
Canada's government has begun a search for investment banks to sell its stake in General Motors, a person familiar with the matter told Bloomberg. The government hasn't decided on the timing of any sale, said the person, who asked not to be identified because the plans aren't public....
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Ally’s 2nd-qtr. loss widens on mortgage woes; auto lending profitable

10:14 am U.S. ET | July 31, 2013
Ally Financial's losses widened to $927 million in the second quarter, mostly related to its former mortgage subsidiary, but its core auto finance business posted a pretax profit on continuing operations of $382 million, down 13 percent from a year earlier....
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