bailout

EU challenges French-backed PSA rescue, report says

Dec. 21, 2012 06:01 CET
The EU is challenging the terms of a French government-backed rescue for PSA/Peugeot-Citroen's financing arm, a French newspaper reported.... Read More »

 

TIMELINE: GM, U.S. government to part ways

3:43 pm U.S. ET | Dec. 19, 2012
The U.S. Treasury said on Wednesday it will sell 200 million shares in General Motors and divest the rest of its holdings over the next 12 to 15 months, ending public ownership of the company rescued by taxpayers in 2009. GM's $50 billion bailout comprised of nearly $7 billion in direct loans and $43 billion in bailout cash and bankruptcy aid.... Read More »

 

GREG MIGLIORE

GM seeks credibility and closure

2:28 pm U.S. ET | Dec. 19, 2012
Credibility. It's a precious commodity in the car business, something that's hard fought, easily lost and takes years to rebuild. And General Motors has just earned back a little bit more of its historic standing.... Read More »

 

Canada: No plans to sell GM stake now

11:56 am U.S. ET | Dec. 19, 2012
Canada has no immediate plans to sell its stake in General Motors, Finance Minister Jim Flaherty said on Wednesday following news the U.S. Treasury will sell its entire stake in GM over 15 months, but he said the stake will be sold eventually.... Read More »

 

Ally pays off remaining debt issued under FDIC program

11:59 am U.S. ET | Dec. 19, 2012
Ally Financial, the former General Motors finance unit now 74 percent owned by the federal government, said it has repaid its remaining debt issued under a financial-crisis-era program designed to bolster confidence in the banking system.... Read More »

 

Obama's bet on GM hangs on new pickups boosting share price

9:52 am U.S. ET | Dec. 13, 2012
GM's best bet for 2013 may also provide the Obama administration an exit ramp for its $50 billion investment in the largest American automaker. With today's unveiling of its first redesigned Chevrolet Silverado full-sized pickup since 2006, GM aims to take Ford head on with new trucks that could help boost its share price, encouraging the federal government to sell its stake.... Read More »

 

Japan chip maker Renesas secures $1.8 billion government-led bailout

11:39 am U.S. ET | Dec. 10, 2012
Japanese chip maker Renesas Electronics, hit by slumping orders and competition from rivals like Samsung Electronics, today secured a 150 billion yen ($1.8 billion) lifeline from a government-led bailout.... Read More »

 

Fiat's cost for buying the rest of Chrysler may rise amid litigation

Dec. 7, 2012 15:46 CET
Fiat's bid to win full control of more profitable Chrysler is set to become more expensive in a few weeks, as a court ruling on a price dispute drags on and Chrysler's possible share flotation looms.... Read More »

 

Fiat's cost for buying the rest of Chrysler may rise amid litigation

9:46 am U.S. ET | Dec. 7, 2012
Fiat's bid to win full control of more profitable Chrysler is set to become more expensive in a few weeks, as a court ruling on a price dispute drags on and Chrysler's possible share flotation looms.... Read More »

 

Ontario finance minister calls on Canada, Ontario to sell GM stake

11:21 am U.S. ET | Nov. 30, 2012
The Canadian and Ontario governments should sell their stake in GM, which is equal to about 9 percent of the company's shares, sooner rather than later, the province of Ontario's finance minister is quoted as saying in a report in the Globe and Mail on Friday.... Read More »

 

EDITORIAL

Uncle Sam should sell his GM shares

12:01 am U.S. ET | Nov. 26, 2012
The Obama administration needs to start selling the federal government's stock in General Motors.... Read More »

 

GM, Peugeot halt talks on deeper tie-up, report says

11:19 am U.S. ET | Nov. 13, 2012
GM and alliance partner PSA Peugeot Citroen have halted talks on a deeper tie-up amid misgivings about the French carmaker's worsening finances and government-backed bailout, people familiar with the matter told Reuters.... Read More »

 

Feds expected to start selling stake in GM

12:01 am U.S. ET | Nov. 12, 2012
With the presidential election in the rearview mirror, the Obama administration should soon begin unloading its stake in General Motors.... Read More »

 

Obama finding what's good for GM not so good for taxpayers

12:20 pm U.S. ET | Nov. 8, 2012
The GM bailout played an important role in the re-election of President Barack Obama, who stumped on the issue in Midwestern swing states. Now comes the hard part: unloading the government's stake, probably at a big loss.... Read More »

 

U.S. automakers protest distortions in Romney ad

7:36 am U.S. ET | Nov. 1, 2012
Republican presidential nominee Mitt Romney, attacking President Barack Obama for his auto industry policies as he battles for votes in Ohio, is drawing pointed rebuttals from General Motors and Chrysler Group, which are being pulled into the election against their will.... Read More »

 

LARRY P. VELLEQUETTE

The automotive view from Ohio, electoral ground zero

11:37 am U.S. ET | Oct. 24, 2012
With less than two weeks to go before the election, this is how bad things have gotten on the public airwaves in northern Ohio: Viewers pine for crazy car dealer ads as sweet relief from an onslaught of political advertising.... Read More »

 

PSA wins government rescue as crisis deepens

Oct. 24, 2012 13:34 CET
The French government stepped in to rescue PSA by guaranteeing as much as 7 billion euros ($9 billion) in new bonds in exchange for greater influence over the company's strategy.... Read More »

 

Iacocca endorses Romney, saying 'America is in deep trouble'

1:07 pm U.S. ET | Oct. 23, 2012
Former Chrysler chairman and CEO Lee Iacocca, saying “America is in deep trouble,” is endorsing Republican presidential candidate Mitt Romney. In an opinion piece published in The Detroit News, Iacocca, 88, said Romney has a plan that “will enable a stronger America.”... Read More »

 

National debate over auto bailout plays out in Ohio house race

12:01 am U.S. ET | Oct. 20, 2012
U.S. Representative Jim Renacci says he wouldn't have run for Congress had his Chevrolet dealership in Wadsworth, Ohio, not closed when the federal government bailed out GM in 2009. The viability of the U.S. auto industry and manufacturing in general is defining the presidential race in Ohio, a state that no Republican won the White House without.... Read More »

 

PHILIP NUSSEL

How Romney could attack Obama's auto bailout

12:49 pm U.S. ET | Oct. 17, 2012
Most voters know that Republican presidential challenger and Michigan native Mitt Romney is a businessman with a lifetime connection to the auto industry. So one must wonder why Romney's attacks on President Obama's auto bailout have been filled with inaccuracies when he still has plenty of more credible ammunition to work with.... Read More »

 

Auto bailout, energy hot topics in presidential debate

11:32 pm U.S. ET | Oct. 16, 2012
President Barack Obama and Republican challenger Mitt Romney for several months have been separately discussing the benefits and liabilities of the auto bailout, but on Tuesday night they got to argue about it face-to-face.... Read More »

 

Obama touts benefits of auto bailout as debate looms

9:16 am U.S. ET | Oct. 13, 2012
President Barack Obama sought on Saturday to sustain momentum from Vice President Joe Biden's strong debate showing by touting the benefits of one of his signature actions, the rescue of the U.S. auto industry, as he prepared for his next debate with Republican Mitt Romney.... Read More »

 

Ford would have shut without GM, Chrysler aid, Rattner says

11:20 am U.S. ET | Oct. 9, 2012
Ford, the only large U.S. automaker that didn’t receive a U.S. government bailout, would’ve failed along with General Motors and Chrysler if President Barack Obama’s administration hadn’t rescued the industry, said Steven Rattner, who headed Obama’s auto task force.... Read More »

 

Auto recovery steers U.S. economy back after four years of weakness

12:01 am U.S. ET | Oct. 7, 2012
The housing market is still on shaky ground. Unemployment languished above 8 percent until September. The one flank of the U.S. economy that’s marching steadily back is the sector that once seemed the weakest: Automotive.... Read More »

 

GM stock sale not easy for Canada, U.S. to time

12:01 am U.S. ET | Oct. 6, 2012
Canada may have trouble unloading its $3.5 billion stake in General Motors, as there won't be many "buying triggers" to spur a sale, according to documents from the agency that manages the shares.... Read More »