- Teamsters to Honor Picket Lines of 50,000 UAW GM Workers
- General Motors Offers UAW $7 Billion in U.S. Investments, an $8000 “Signing Bonus” or is that Bribe?
- UAW to Strike GM – Contract Talks Deadlocked
- August Global Light Vehicle Sales Drop -3.9%
- Ford Recalls 311,907 Explorer SUVs for Dangerous Seat Frames
- GM Finally Recalls 3,456,111 SUVS, Pickups for Bad Brakes
- Electric Vehicle Charging Emissions – Good and Better?
- alice + olivia: The Rag Trade Meets a VW Rag Top
- Nissan CEO Hiroto Saikawa Forced Out Over Ghosn Matter
- Porsche Opens Zuffenhausen Factory for All-Electric Taycan
- Data Show GM Automated Safety Systems Prevent Crashes
- Chrysler Recalls More than 1.1 Million Ram Pickup Trucks for Unexpected Tailgate Openings While Driving
- Google Voice Assistant, Navigation and App to Debut at GM
- Western European Car Registrations Fall by -8.5%
- Brexit – UK Car Production Declines -10.6%. Exports Hit
News from PR Newswire
- Ford Shakes up European and International Markets as CFO Shanks Retires. Restructuring Continues as Stock Languishes on
- Caught Testing – the Revised 2014 Cadillac CTS? on
- Future Mustang and Lincoln Coupe? on
- Car Spy Jim Dunne Catches Revised Lincoln MKS or MKZ? on
- New 2014 Lincoln Compact SUV Caught by Jim Dunne on
Tag Archives: treasury
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
The U.S. Department of the Treasury announced it is selling 553,846,153 shares of its American International Group (AIG) common stock at $32.50 per in a public offering. The proceeds to Treasury from the common stock sales are expected to be ~$18.0 billion. This means that the transaction locks in at least a $12.4 billion positive return on the $182 billion in Treasury and Federal Reserve loans and commitments to AIG. The bailout loan will be fully paid off in what remains an unpopular (but extremely effective) example of government intervention in a failed marketplace. Ideologues still refuse to admit that the TARP and associated government actions saved the U.S. and perhaps the global economy. It certainly – without question – saved the U.S. auto industry and this includes companies that received no loans. Continue reading
TARP’s bank programs have already earned a significant profit for taxpayers. Including the expected proceeds from today’s transaction, Treasury has now recovered $264 billion from TARP’s bank programs through repayments, dividends, interest, and other income – compared to the $245 billion initially invested. Continue reading
The U.S. Department of the Treasury announced today that it is starting secondary public offerings of the preferred stock it holds in seven so-called CPP institutions (Capital Purchase Program under TARP). The Troubled Assets Relief Program, which injected huge amounts of taxpayer cash into U.S. banks, was sold to the American public as a way to encourage banks to lend money to free up the frozen capital markets. From October 2008 through December 2009, Treasury invested almost $205 billion in 707 financial institutions as part of the federal government’s efforts to help stabilize U.S. financial markets and the economy.
However, some the banks used part of the funds to pay huge executive bonuses, repurchase stock and pay dividends, according to the Government Accountability Office. Now GAO concerns are being raised about the health of the banks remaining in the program. Continue reading
Chrysler to Repay Loans with New Debt. Fiat to Up Stake to 46%. Credit Ratings under Review for Possible Downgrade?
Chrysler Group will repay the loans provided from the U.S. Department of the Treasury and the Canadian federal and Ontario governments by June. Continue reading