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.
A conservative think tank that the Center for American Progress has accused of being a corporate shill slammed the liberal behemoth for its reported hypocrisy.
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.
A trade agreement that has garnered broad support from a diverse array of organizations in the United States has drawn staunch opposition from labor unions and congressional Democrats.
Bailout recipient General Motors leads the world in car sales thanks in part to subprime auto lending that may cause a fiscal calamity, financial and auto industry observers fear.
A pair of Ohio lawmakers have launched a taskforce to investigate the Pension Benefit Guaranty Corporation’s (PBGC) decision to slash a non-union pension fund as part of the auto bailout.
The Treasury Department approved large compensation packages for executives at three firms that received bailout funds, the special inspector general for the Troubled Asset Relief Program found in a new report.
The Treasury Department announced Wednesday it will sell its remaining shares of Detroit-based automaker General Motors and the result will be a loss for taxpayers in the billions of dollars, Politico reports.
A French car manufacturer that is partially owned by the taxpayer-funded General Motors Company (GM) claims to have ceased its longtime business dealings with Iran, though experts have cast doubts on this claim.