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Tag Archives: gm bailout
Treasury Selling More GM Common Stock
The U.S. Department of the Treasury is continuing its sales of GM common stock starting today by launching a third “pre-defined written trading plan.” Terms were not disclosed. Continue reading
Posted in auto news, financial results
Tagged autoinformed, autoinformed.com, gm bailout, Ken Zino, tarp
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Taxpayers to Recoup $1.3 Billion on Latest GM Stock Sale
U.S. Treasury today said that the 30 million shares of GM common stock it is selling at $34.41 per share is expected to total a $1.03 billion recovery for U.S. taxpayers. Continue reading
Posted in auto news
Tagged autoinformed, autoinformed.com, gm bailout, great recession, Ken Zino, sec, treasury
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Treasury to Sell 242 Million Shares of General Motors Common
To recover the full loan Treasury would have to sell the remaining GM shares at more than $77. GM is currently trading at ~$32 per share. This means that taxpayers will take a loss on the bailout of GM. Continue reading
Posted in auto news, financial results
Tagged autoinformed, autoinformed.com, gm bailout, Ken Zino, tarp
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U.S. Treasury to Sell GM Stock at a Loss During the Next 15 Months
It appears that Treasury is making a very bad decision here based on ideology, not good old American pragmatism. It was ideologues who opposed the successful TARP bailouts, and now Treasury – the government agency that is supposed to understand money and stock markets – is also taking an impractical position based also on ideology. Since the end of September taxpayers earned more than $1.5 billion from the increase in value of GM stock. Why dump and run now? No surprise here at AutoInformed that most Americans are disgusted with the way government handles their money. Continue reading
Posted in auto news, economy, financial results, news analysis
Tagged auto informed, autoinformed.com, automotive news, GM, gm bailout, Ken Zino, tarp
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GM CFO’s Wife Disclosed in $600,000 Related Party Deal
In an amended proxy filing to the Securities and Exchange Commission made public today, General Motors said that it recently learned about a related party transaction in 2011 not included in the original proxy statement. Pernilla Ammann, the wife of GM’s Chief Financial Officer Dan Ammann, is an officer and partner in an advertising agency that received approximately $600,000 for services provided to a GM subsidiary in 2011. Continue reading
Posted in auto news
Tagged auto informed, autoinformed.com, automotive news, dan ammann, GM, gm annual meeting, gm bailout, Ken Zino, pernilla ammann
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GM Says No To More Taxpayer Funding. Withdraws Federal Loan Application for Advanced Technology Vehicles
General Motors today announced it is withdrawing its $14.4 billion application for direct loans from the U.S. Department of Energy (DOE) that it submitted in October of 2009 after it had emerged from bankruptcy. Continue reading
Posted in auto news, results
Tagged advanced technology vehicles manufacturing loan program, auto informed, auto news, autoinformed, autoinformed.com, automotive news, doe, energy independence and security act, GM, gm bailout, gm bankruptcy, gm doe loans, Ken Zino, section 136 loan, zino
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U.S. Taxpayers Get $13.5 Billion from GM IPO. Still Own 33%
The U.S. Department of the Treasury said today it received $1.8 billion in additional net payments from General Motors’ initial public offering (IPO), bringing overall net proceeds for taxpayers from the GM IPO to $13.5 billion. Continue reading
Posted in auto news, economy
Tagged auto informed, autoinformed, autoinformed.com, gm bailout, gm ipo, Ken Zino, tarp, taxpayer return on gm, U.S. Department of the Treasury, zino
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Bailout Blessing! GM Saves 184 Jobs in Three Plants
General Motors has just announced a $163.2-million investment in its operations in Flint and Bay City, Michigan, and Defiance, Ohio, to support engine production for the Chevrolet Volt, Chevrolet Cruze and a new Chevrolet small car to be built in the United States. The investment will protect 184 jobs at the three sites. Continue reading
Posted in auto news, economy
Tagged auto informed.com, auto news, autoinformed, chevrolet cruze, chevrolet volt, gm bailout, gm bankruptcy, gm ecotec engine, gm ipo, Ken Zino, tarp
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Just How Bad is GM’s Accounting?
GM says that it doesn’t have the financial controls in place to know if its published results are real or if there are potential material changes lurking. Continue reading
Posted in auto news, economy, financial results
Tagged auto news, autoinformed, gm bailout, gm bankruptcy, gm ipo, gm stock, Ken Zino
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