Surviving the black plague of global recession was no small task for the Ford Motor Company, but it emerged from the smoking crater in which companies like General Motors continue to wallow. The auto bailout may have kept other automakers afloat, but it did a great deal of damage to reputations in the process. Ford Read on! →
Tag Archives: auto bailout
Auto dealers believe that they’re already regulated enough by federal and state laws, which is part of the reason why roughly 100 dealers are lining up to lobby lawmakers over the new Senate auto finance bill, reports the Detroit Free Press. Car dealers fear that additional restraint would “limit credit for customers and hurt the Read on! →
General Motors gave Detroit Tigers pitcher Armando Galarraga a Corvette following his near-perfect game. The 2010 Chevrolet Corvette convertible is worth $53,000, but Crain’s Detroit Business reports that the media exposure the gesture brought to GM was worth approximately $9 million. A non-contracted study by research group Joyce Julius & Associates Inc. tracked the exposure Read on! →
In the new memoir “Decision Points,” former U.S. President George W. Bush stands behind his decision toward the tail end of his presidency to extend a $17.4 billion auto bailout. Automotive News reports that President Bush knew just four days after GM announced it was near bankruptcy – on Nov. 11, 2008 – that he Read on! →
October was a banner month for GM and Ford sales. General Motors and Ford Motor Co. both posted large profits thanks to strong October auto sales. The adjusted sales rate for October was in the double digits, and domestic automakers are reaping huge benefits. The initial public offering for GM stock is inching closer still, Read on! →
US Treasury in no hurry to exit GM
Posted by Mark
The U.S. Treasury under the Obama Administration has been part-owner of General Motors Co. for more than three years now. That association is not likely to end at any time in the foreseeable future, as the government is presenting no timetable for an exit. GM stock performing poorly Since its controversial Government-backed bankruptcy, the giant Read on! →
Fiscal 2011 has come to a close across the global automotive industry, and that means financial reports are being released. Italian automaker Fiat released its regulatory filing Thursday, and the Detroit Free Press notes that CEO Sergio Marchionne was paid $18.9 million in salary and incentives for the year. The sum stands in stark contrast Read on! →
General Motors has announced that it will be buying a significant portion of shares back from the Treasury. As part of the auto bailout, GM had to turn over a number of preferred shares to the United States Treasury. Earlier this year, GM announced it was getting back to fiscal health, and the company was Read on! →