Bailout

Ontario plans to unload remaining stake in GM

1:29 pm U.S. ET | April 11, 2014
The Canadian province of Ontario plans to sell its remaining shares of General Motors Co. in the next year as part of a review of its state-owned assets.... Read More »

 

THE GM RECALL

Bailout task force unaware of GM faulty switches, report says

7:39 am U.S. ET | April 3, 2014
The task force President Barack Obama set up to manage General Motors' bailout and bankruptcy in 2009 wasn't aware of the faulty ignition switches linked to 13 deaths in small cars, people familiar with the matter told Bloomberg.... Read More »

 

Ally Financial CEO Carpenter won't get pay hike, U.S. Treasury says

7:41 pm U.S. ET | April 2, 2014
The Obama administration is holding the total compensation unchanged this year for the head of bailed-out auto lender Ally Financial, the Treasury Department said on Wednesday.... Read More »

 

Rattner: U.S. is now a low-wage auto market

12:01 am U.S. ET | Feb. 3, 2014
Steven Rattner, the New York financier who headed Barack Obama's auto task force in 2009 and was credited with helping rescue the car business, took a crack at the resurgent auto industry in a New York Times opinion piece titled: “The Myth Of Industrial Rebound.”... Read More »

 

NICK BUNKLEY

Is Chrysler American, Italian, Dutch or … ?

12:01 am U.S. ET | Jan. 30, 2014
Yesterday was certainly a big day for the venerable Dutch auto industry. Chrysler, the once undeniably American company that suffered a marriage to a German, then a taxpayer-supported shotgun wedding with an Italian, is finally settling down in the Netherlands.... Read More »

 

NICK BUNKLEY

Is Chrysler American, Italian, Dutch or … ?

3:16 pm U.S. ET | Jan. 29, 2014
There’s an occasional saying in western Michigan, where I grew up: “If you’re not Dutch, with a tax domicile in Great Britain, you’re not much.” It’s something like that, anyway. Regardless, today was a big day for the venerable Dutch auto industry.... Read More »

 

GM CEO Barra to be first lady's guest at tonight's State of the Union address

6:38 am U.S. ET | Jan. 28, 2014
Mary Barra, who took the reins as GM's CEO less than two weeks ago, will attend tonight's State of the Union address as a guest of first lady Michelle Obama, the White House said.... Read More »

 

2009 TIMELINE

January blues

12:01 am U.S. ET | Jan. 27, 2014
A look at events during a busy January in 2009... Read More »

 

2014 DETROIT AUTO SHOW

Biden says U.S. bet on auto industry paid off

12:23 pm U.S. ET | Jan. 16, 2014
Vice President Joe Biden said the federal government's wager on the nation's automotive industry has paid off. "We bet on American ingenuity, we bet on you and we won," he said today during a speech at the Detroit auto show.... Read More »

 

Akerson in D.C.: GM still has 'a lot to prove'

3:52 pm U.S. ET | Dec. 16, 2013
Dan Akerson, the departing CEO of General Motors, gave a closing defense in Washington of the bailout that saved GM five years ago, saying the company's strong balance sheet and recent accolades for its cars show the wisdom of the move.... Read More »

 

GM CEO sees greater 'bandwidth' for paying dividends in 2014

4:55 pm U.S. ET | Dec. 16, 2013
General Motors, with improved cash flow and fewer outstanding preferred shares, is in a better position to consider paying a dividend next year, CEO Dan Akerson said.... Read More »

 

Ford 'lifers' get second chance as CEO readies exit

1:59 pm U.S. ET | Dec. 16, 2013
The view from inside Ford, and of people close to the company, is that the management team CEO Alan Mulally groomed is now ready for his exit. COO Mark Fields, 52, is widely expected to take over as CEO. After more than seven years at Ford's helm, Mulally is closely identified with the company's ability to avoid the 2009 federal bailouts, but the challenges ahead for Ford are still significant, analysts said.... Read More »

 

Incoming GM CEO Barra seen as winner early in career

Dec. 11, 2013 10:44 CET
Until two years ago, Mary Barra, who was named as incoming GM CEO, was little known outside the automaker. But her rapid rise inside the company was signaled more than a decade ago.... Read More »

 

GM's Akerson: 'We had to right the ship'

3:22 pm U.S. ET | Dec. 10, 2013
In the 39 months since Dan Akerson volunteered to be General Motors' CEO during a board meeting, the automaker has earned about $16 billion. Akerson, a former telecommunications executive and Navy lieutenant prone to using maritime metaphors, acknowledged he knew little about cars when he arrived in Detroit. He was appointed to GM's board in July 2009.... Read More »

 

U.S. sells last of GM shares, ending 'Government Motors' era

Dec. 10, 2013 06:01 CET
The U.S. Treasury 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.... Read More »

 

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.... Read More »

 

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.... Read More »

 

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.... Read More »

 

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.... Read More »

 

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.... Read More »

 

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.... Read More »

 

GABE NELSON

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.... Read More »

 

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.... Read More »

 

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.... Read More »

 

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.... Read More »

 

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