Buffett Boosts GM Holdings by 60%
Billionaire Warren Buffett is increasing his holdings in General Motors. According to a federal filing, he increased his holdings by 60% to 40 million shares. He now holds 2.9% of GM's outstanding...
View ArticleU.S. Treasury Continues Sale of GM Stock in October
The U.S. government’s steady sale of its remaining shares of General Motors stock continued last month, according to the Treasury Department, as it sold $1.2 billion of its holdings. The government is...
View ArticleTreasury Will Sell Remaining GM Shares by End of Year
The U.S. Treasury has accelerated its plans to sell off its remaining shares in General Motors. It plans to shed its final 31.1 million shares by Dec. 31. The government is expected to post a loss...
View ArticleGM Bailout Saved 1.2 Mil Jobs, According to New Report
The General Motors bailout spared at least 1.2 million US jobs and generated $10s of billions in additional tax revenue, according to a major new study, far more than offsetting the likely final loss...
View ArticleUS Treasury Sells off Final Shares of GM
Call it “Government Motors” no more. Over four years after it emerged from bankruptcy with a $49.5 billion federal bailout that left American taxpayers holding the majority of the company the U.S....
View ArticleGM CEO Akerson Rejects Repaying Government for Losses
Soon-to-retire General Motors Chairman and CEO Dan Akerson has said thanks, but no thanks, to suggestions the now-profitable automaker should pay back the roughly $10 billion the U.S. Treasury is...
View ArticleBiden Praises Resurgence of Detroit Automakers
Joe Biden heralded the U.S. auto industry’s success as the pay off on a bet made by two presidential administrations during a speech at the North American International Auto Show in Detroit. After the...
View ArticleTaxpayers Taking Bigger Hit on GM Bailout
U.S. taxpayers are taking a bigger loss on the General Motors bailout package than $10.3 billion originally reported. Due to an accounting error, the loss is actually $11.2 billion, according to a...
View ArticleGovernment Lost $9.26 Billion Saving Auto Industry
The U.S. government lost less than $10 billion rescuing the auto industry, which was four times less than some estimates. The Treasury initially estimated the loss would be $44 billion, but revised it...
View ArticleNew Film Reveals the Reality of the Auto Bailout
It had once seemed impossible, but in 2009 it became clear that GM - and Chrysler - were heading for bankruptcy. They were saved only with the help of $62.5 bil in federal aid. What went wrong? Who was...
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