More than half of Texans said that the $50 billion taxpayer bailout of General Motors may deter them from buying from the company, according to a survey released Tuesday.
General Motors has shied away from promoting the Chevrolet Volt in 2013 as the federal government begins selling off its final shares of company stock, a move one expert said may have been made to avoid reminding the public of the federal bailout.
General Motors of Canada President Kevin Williams is warning that subprime loans could doom the auto industry just as it did the housing industry in 2007.
General Motors (GM) employees have reportedly flooded the comments sections of car blogs to boost the company’s reputation, according to a report.
The Treasury Department announced the sale of $811 million worth of General Motors (GM) stock in August, while the Canadian government shed 30 million shares in September.
The government retains an estimated 186 million shares of GM stock, according to the Associated Press. Those remaining shares are only worth $6.77 billion at GM’s current $36.40 stock value, less than half of what is needed to cover the $14.1 billion the company owes the United States.
One of GM’s foreign subsidiaries received a $275 million bailout from Australian taxpayers to keep its operations afloat and is reportedly seeking an additional $265 million from local and federal authorities.
A liberal think tank with close ties to the Obama administration took money from General Motors and other businesses without disclosing that fact as it publicly campaigned for policies benefitting those companies.
Former Montana Gov. Brian Schweitzer won a seat on the board of a major mining company on May 2 and will now benefit from a deal he brokered on behalf of the company as the state’s Democratic governor.
GM is recalling 38,197 2012 and 2013 model cars with eAssist hybrid powertrains, the Wall Street Journal reports.
The Treasury will begin another round of sales for General Motor stock acquired during the government’s bailout of the auto sector, the department said on Monday.