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Tag Archives: auto bailouts
More Taxpayer Subsidies for Rich Automakers Proposed
It is another raid on the U.S. Treasury sponsored by U.S. Senators Debbie Stabenow (D-MI), Gary Peters (D-MI), along with Lamar Alexander (R-TN), all from auto making states. Continue reading
Treasury No Longer Owns GM Common Stock
Treasury in a statement said it recouped a total of $39 billion from the original GM investment. Taxpayers in 2009 gave GM $49.5 billion in loans ($50 billion including loans for the Supplier and Warranty Programs) in exchange for $2.1 billion in preferred stock and a 60.8% equity stake in the reorganized company. Continue reading
Posted in economy, financial results
Tagged auto bailouts, autoinformed, autoinformed.com, Ken Zino, tarp
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Treasury Recoups another $1.2 Billion from GM
The U.S. Treasury during October continued its sale of GM common stock receiving net proceeds of ~$1.2 billion without saying how much it received per share. Continue reading
Posted in financial results
Tagged auto bailouts, autoinformed, autoinformed.com, Ken Zino, tarp
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Treasury Selling More GM Common Stock
The U.S. Department of the Treasury today announced that it would sell another 30 million shares of General Motors Company common stock in a public offering in conjunction with GM’s return to the S&P 500 index. Continue reading
Posted in auto news, economy, financial results, news
Tagged auto bailouts, autoinformed, autoinformed.com, gm bankruptcy, Ken Zino, tarp, taxpayer subsidies
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GM and PSA Peugeot Citroën to Develop New Gas Engines
PSA Peugeot Citroën and General Motors are expanding the scope of their alliance announced earlier this year to include a new line of small gasoline engines developed from PSA’s small gasoline engine program known as the EB engine. Continue reading
Posted in auto news, new vehicle, news analysis
Tagged auto bailouts, auto informed, autoinformed.com, automotive news, GM, Ken Zino, PSA
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GM Buys Overseas Finance Business from Ally for $4.2 Billion
GM said that with addition of Ally’s international operations, GM Financial will be able to provide credit for customers and dealers in markets that make up about 80% of GM’s global sales. In essence, GM is recreating GMAC. Continue reading
Posted in auto news, economy, news analysis
Tagged ally, auto bailouts, auto informed, autoinformed.com, automotive news, finance, gm financial, Ken Zino, tarp
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Ford Motor and General Motors Declare Stock Dividends
The Boards of Directors of Ford Motor (NYSE: F) and General Motors Company (NYSE: GM) have declared quarterly stock dividends, as the U.S. auto industry continues its slow financial recovery because of increasing auto sales. Continue reading
Chrysler Group Q1 Profit $740 million on 33% Sales Increase
“I have really no bad news to tell you,” said Sergio Marchionne, Chairman and Chief Executive Officer of Chrysler Group. “We continue to focus on new product launches, and 2012 is the weakest year for new products. The big one is 2013.” Continue reading
Posted in auto news, financial results, results
Tagged auto bailouts, auto informed, autoinformed.com, automotive news, chrysler, Ken Zino, marchionne, q1 results
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Taxpayers to Turn Profit from Controversial TARP Bailouts
TARP, arguably the most contentious of the Federal government’s attempts to stop the U.S. and global economies from sliding into another Great Depression or worse, prevented the collapse of the financial system by bailing out profligate and reckless Wall Street firms. To date not one person has been successfully prosecuted for the rampant financial fraud that caused the housing and stock markets to collapse. Continue reading
Taxpayers Make Money on Treasury Bailout of Mortgages
While this is good news in a slowly recovering economy, taxpayers are still on the hook for billions upon billions advanced to Freddie Mac and Fannie Mae – up to $100 billion each in capital – to prop up their $5 trillion in outstanding mortgage debt, of which an unknown amount will never be repaid. Continue reading
American Airlines to Freeze not Kill Pensions in Union Victory
The so-called pension freeze covers unionized flight attendants and other ground workers, but does not cover American Airline pilots because their pension plan includes a lump-sum payment upon retirement. It would have been possible for some of them to flee the once proud airline, meaning American would have an expensive aviation museum consisting of planes largely on the ground. Continue reading
GM Posts Record $9.1 Billion Profit in 2011 – $7.6B on Common
GM’s latest results will no doubt add more fodder as the elite political ruling class continues a contentious debate about the proper roll of government in the weak U.S. economy in general, with the $80 billion auto bailout one of the focal points. One wag suggested that Democrats should run on “Bin Laden is Dead, GM is Alive.” Continue reading
Posted in auto news, financial results, results
Tagged 2011 results, auto bailouts, auto informed, autoinformed.com, automotive news, financial results, GM, gm results, Ken Zino, results
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Ex President George Bush Endorses Federal Auto Bailouts
Former President George W. Bush received large ovations as he addressed the National Automobile Dealers Association Convention yesterday in Las Vegas. Bush’s message on the controversial government bailouts of the U.S. auto industry was simple “I’d do it again,” he told standing-room-only crowd of mostly affluent auto dealers. Continue reading
Ford Family and Other Shareholders to Receive Dividends
Ford still remains heavily in debt – at $12.7 billion. However, Ford decreased automotive debt by $1.3 billion in the third quarter of this year, including payment of the remaining $1.8 billion balance of secured Term Loan debt, which was offset partially by an increase in controversial taxpayer-subsidized low-cost loans from the Department of Energy to support advanced technology under the guise of retooling existing plants. Continue reading
