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Until December 10, 2013, the U. S. Treasury recovered $39 billion from selling its GM stake. The final direct cost to the Treasury of the GM bailout was $11 [94]-12 billion ($10.5 billion for General Motors and $1.5 billion for former GM financing GMAC, now known as Ally). [95] Local tax incentives amounted to $1.7 billion, most of them in ...
The auto industry is a key component of the U.S. economy. Economists used 2007–2008 data to build estimates of what a shutdown would cost in summer 2008, in order to set benchmarks to help policy makers understand the impact of bankruptcies. Such estimates were widely discussed among policy makers in late 2008. [40]
The Presidential Task Force on the Auto Industry was an ad hoc group of United States cabinet-level and other officials that was formed by President Barack Obama to deal with the financial bailout of automakers Chrysler and General Motors.
On Monday, the U.S. Treasury announced that it was launching a second "pre-defined written trading plan" in order to sell the government's last 241.7 million shares in General Motors . While the ...
AJ Mast/APFiat and Chrysler CEO Sergio Marchionne MILAN and NEW YORK -- Italian carmaker Fiat has brought in a veteran of the 2009 U.S. auto sector bailout in a bid to break the deadlock in talks ...
General Motors is cutting 10,000 more jobs, paring the ranks of its white-collar workers. In addition, most of its remaining salaried workers will have their pay reduced beginning May 1. Could ...
The U.S. auto industry was profitable in every year since 1955, except those years following U.S. recessions and involvement in wars. U.S. auto industry profits suffered from 1971 to 1973 during the Vietnam War, during the recession in the late 1970s which impacted auto industry profits from 1981 to 1983, during and after the Gulf War when ...
General Motors Corp. (GM) and Chrysler have received $17.4 billion in U.S. funds (so far), which they received only after much congressional teeth gnashing. Meanwhile, American International Group ...