Bailout

JIM HENRY

Free of U.S. ownership, Ally expects cheaper funds, maybe more subprime deals

3:13 pm U.S. ET | Dec. 19, 2014
Ally Financial is “free at last,” to borrow a phrase CEO Michael Carpenter used earlier this year to describe how it would feel for Ally finally to put six years of government ownership behind it....
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Ally's six-year bailout ends after U.S. sells $1.28 billion stake

7:48 pm U.S. ET | Dec. 18, 2014
The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment....
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Canada helped bail out GM, Chrysler with incomplete information, auditor finds

12:19 pm U.S. ET | Nov. 25, 2014
Canada had limited information about the restructuring plans of GM and Chrysler Group when the government approved a $12.1 billion bailout for the automakers in 2009, federal auditors said....
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GM's bankruptcy judge to retire, remain on recall status

3:32 pm U.S. ET | Nov. 17, 2014
The New York bankruptcy judge overseeing part of the fallout from General Motors' problems with faulty ignition switches will retire from the bench, but remain active in so-called recall status for at least a year, his court announced....
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GM lawsuit poses danger to future bailouts, Treasury says

4:19 pm U.S. ET | Oct. 30, 2014
The Treasury Department says confidential information it received during the GM bailout should stay secret, otherwise at-risk companies needing government help in the future might not be willing to share data....
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THE GM RECALL

GM sued for $10 billion over losses on 27 million recalled cars

1:43 pm U.S. ET | Oct. 15, 2014
General Motors was hit with its biggest lawsuit so far over serial recalls, brought on behalf of drivers of 27 million vehicles seeking more than $10 billion in compensation for fallen car prices....
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U.S. Treasury to cut Ally stake

10:56 am U.S. ET | Aug. 14, 2014
The Treasury Department plans to cut its stake in Ally Financial by selling stock on the open market in its first divestiture since the company's initial public offering in April....
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THE GM RECALL

GM judge says concealing switch fault would have been fraud

11:56 am U.S. ET | July 2, 2014
General Motors customers who sued the automaker over fallen car prices might have a stronger case if they could prove the company defrauded the court when testifying during its 2009 bankruptcy, a judge said....
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Marchionne uses Chrysler's 'human-interest' story to woo U.S. investors

June 20, 2014 06:01 CET
Fiat Chrysler CEO Sergio Marchionne says he will use the “human-interest” angle of Chrysler's rebound from bankruptcy to help Fiat Chrysler appeal to U.S. investors ahead of a listing there later this year....
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Marchionne pitches Chrysler's 'Cinderella' story to U.S. investors

10:44 pm U.S. ET | June 19, 2014
Fiat Chrysler CEO Sergio Marchionne said he's pulling out all the stops to build investor interest ahead of a listing in the United States later this year following the completion of Fiat's merger with Chrysler....
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THE GM RECALL

Rattner says he saw 'GM nod' and 'GM salute' during rescue

3:26 pm U.S. ET | June 12, 2014
Steven Rattner, the former auto czar who led the government bailouts of General Motors and Chrysler, says he witnessed GM's problematic management culture firsthand and was shocked -- and crash victim advocates are asking why he didn't act....
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Location of GM ignition suit litigation to be decided by U.S. panel

6:38 am U.S. ET | May 29, 2014
GM wants to return to a New York courtroom to fight at least 90 ignition-switch defect lawsuits while some car owners are driving for the cases to be heard by a California judge seasoned in auto litigation....
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LARRY P. VELLEQUETTE

Why the bankruptcy legacy seems different at Chrysler and GM

3:02 pm U.S. ET | May 22, 2014
There is a fundamental difference today between Chrysler and GM because of what did and did not happen during their gut-wrenching bankruptcy crises five years ago. Chrysler came close enough to death in its bankruptcy to dramatically alter its culture, while GM never stopped believing it was too big to fail....
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THE GM RECALL

Bailout architects deny knowledge of GM ignition woes

12:08 pm U.S. ET | May 21, 2014
Leaders of the White House task force that orchestrated the government bailout of General Motors and Chrysler in 2009 said today that they knew nothing about GM's defective ignition switch at the time from talking to the top executives involved in crafting the company's turnaround plan....
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THE GM RECALL

U.S. bankruptcy judge urges settlement on GM ignition defects

8:08 am U.S. ET | May 2, 2014
A federal bankruptcy judge today urged settlement talks in a dispute between General Motors and plaintiffs seeking compensation for the lost value of their cars stemming from a massive recall over a faulty ignition switch....
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U.S. government says it lost $11.2 billion on GM bailout

May 1, 2014 06:01 CET
The U.S. government says it lost $11.2 billion on its bailout of GM, more than the $10.3 billion the Treasury Department estimated when it sold its remaining shares in the company in December....
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U.S. government says it lost $11.2 billion on GM bailout

2:53 pm U.S. ET | April 30, 2014
The U.S. government lost $11.2 billion on its bailout of GM, more than the $10.3 billion the Treasury Department estimated when it sold its remaining shares in the company in December, according to a government report released on Wednesday....
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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....
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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....
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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....
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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.”...
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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....
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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....
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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....
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2009 TIMELINE

January blues

12:01 am U.S. ET | Jan. 27, 2014
A look at events during a busy January in 2009...
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Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

Canadian dealer buries a Jeep, hires an ambassador and puts on the Ritz

At Bay King Chrysler, Dodge, Jeep, Ram in Hamilton, Ontario, dealer Jamie Richter has put luxury-hotel touches in his new showroom. They include concierges who see to the needs of service customers. Mon., December 15
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