TreasuryU.S. Treasury to sell 30 million more GM shares 9:31 am U.S. ET | June 5, 2013  The federal Treasury Department said it plans to sell 30 million additional shares of General Motors common stock in an offering that will also include 20 million shares from the UAW union's GM retiree health-care trust.... Read More »
U.S. Treasury plans to sell remaining GM stake 2:31 pm U.S. ET | May 6, 2013  The Treasury Department said today it will begin another round of sales of the GM stock it acquired during the government's bailout of the automaker.... Read More »
Executive pay at bailed-out companies subject of D.C. hearing 6:22 pm U.S. ET | Feb. 22, 2013  A congressional subcommittee plans to hold a hearing Tuesday on executive pay at companies, including General Motors and Ally Financial, that the federal government bailed out about four years ago.... Read More »
GM hopes U.S. stock sale revives image as it seeks higher credit rating 8:21 pm U.S. ET | Jan. 13, 2013  The sale of the Treasury's stake in General Motors and a possible credit rating upgrade of the automaker in 2013 will help distance the company from the stigma of its 2009 bankruptcy restructuring.... Read More »
GM, Obama can move ahead with the end of 'Government Motors' 8:29 am U.S. ET | Dec. 23, 2012  The Treasury's plan to sell its remaining stake in GM is a leap forward for the Obama administration's effort to end a $418 billion bailout program that in four years was transformed from a political albatross to a winning campaign issue. The decision to exit GM within the next 15 months, and the Treasury's sale last week of its remaining shares of insurer AIG, will erase two corporate symbols of the 2008 financial crisis from the government's Troubled Asset Relief Program. Taxpayers spent $182.... Read More »
GM sheds some 'Government Motors' stigma with $5.5 billion stock purchase 8:06 am U.S. ET | Dec. 19, 2012  General Motors took a big step toward shedding its “Government Motors” stigma today by disclosing plans to buy 200 million GM shares from the U.S. Treasury for $5.5 billion. After GM's sale, which should close by Dec. 31, the government will own about 300 million shares, for a fully diluted stake of 19 percent. The federal government intends to unload its entire stake in GM within 12 to 15 months, the Treasury said separately.... 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 »
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 »
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 »
U.S. Treasury expects GM shares to rise before it will sell 9:32 pm U.S. ET | Sept. 21, 2012  The Treasury expects General Motors' stock price to rise in the future, offering the government a better chance to cut its losses in the automaker, people familiar with Treasury's thinking said.... Read More »
Treasury appoints two directors to Ally Financial board 3:11 pm U.S. ET | Aug. 15, 2012  The Treasury Department today named two directors to the board of Ally Financial, the auto lender which is still 74-percent owned by the federal government after a series of bailouts during the financial crisis.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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