Chrysler Group CEO Sergio Marchionne has announced that the automaker will pay bonuses to its hourly and salaried employees, reports the Detroit Free Press. Via a corporate e-mail sent Jan. 31, Marchionne praised Chrysler employees for contributing to the introduction of 16 new or revamped cars in 2010. Bonuses will be delivered on Feb. 11, Read on! →


Congress roasts GMAC, suggests future stimulus in jeopardy In the recently released “January Oversight Report: Exiting TARP and Unwinding its Impact on the Financial Markets,” the Congressional Oversight Panel looked over the entire $700 billion TARP bailout. Among many topics across our nation’s economy, they paid particular interest to charges that GMAC received “special treatment” Read on! →


If you had faith in the American government’s ability to repay you for your contribution to TARP, I have a suggestion for you: refuse to be delusional. “Faith is belief in spite of, even perhaps because of, the lack of evidence,” says Richard Dawkins. I’d say that when it comes to our money and politics, Read on! →


Chrysler Financial announced Tuesday that it has repaid its government loans in full, six years early. Chrysler Financial is the former financial arm of automaker Chrysler LLC. The company owed $1.5 billion to the U.S. government. Loan granted when Chrysler filed Chapter 11 Michigan-based Chrysler Financial received a loan from the government’s Troubled Assets Relief Read on! →


Despite the objections of Congress, General Motors gone through with its plan to close 500 dealerships, reports Automotive News. These dealerships had been marked for possible termination once the GM bankruptcy hearings began. Republican and Democratic House members such as John Boehner and Sherrod Brown of Ohio had asked for a stay of termination until Read on! →


U.S. taxpayers are still owed $132.9 billion by companies that haven’t repaid their Troubled Asset Relief Program debt, reports the Detroit Free Press. Some of it will never be recovered from the automakers that were deemed “too big to fail.” Years of auto bailout blues Launched at the zenith of the financial crisis in September Read on! →


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! →


Former Obama Car Czar and author of tell-all book “Overhaul” Steven Rattner recently told the International Motor Press Association that he is optimistic about light-vehicle sales in 2011, reports Wards Auto. Rattner foresees 14 million units sold this year, and 15 million in 2012. In the long term, this trend should continue until U.S. automakers 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! →


With new models and a reputation on the upswing, Ford Motor Co. is running strong, reports Automotive News. On Friday, the company may reveal that 2010 was its most profitable year since 2000. It would be the second straight year under CEO Alan Mulally that Ford has announced a profit. Ford ‘money machine’ translates into Read on! →