After an accusation by Senator Charles Grassley that GM repaid its federal loans with federal funds, in effect running a shell game, the U.S. Treasury says not so.
Showing posts with label Bankruptcy. Show all posts
Showing posts with label Bankruptcy. Show all posts
Thursday, April 29, 2010
Thursday, April 22, 2010
Senator: GM Repaid Federal Loans With Federal Funds
6:10 PM
deli
Ed Whitacre may be really happy about General Motors paying off its federal loans ahead of schedule, but Iowa Senator Charles Grassley (can we call him 5.6 Billion Buck Chuck?) is not impressed.
The senior Republican on the Senate Finance Committee is calling BS on GM...alleging a shell game in which GM used TARP funds instead of its own earnings to pay back Uncle Sam.
GM and the Treasury Department are denying it. Full story at Automotive News.
In fact, Whitacre says when it's all said and done, the US will get back its entire $50 billion investment in GM and may even make a profit. Details at The Detroit Free Press.
Tuesday, March 23, 2010
Good News For The Dealer Dudes
6:08 AM
deli
One minute you're an outcast, the next, you're Mark Reuss' BFF.
Automotive News reports the GM North America president has been letting reinstated GM dealerships know by Facebook...using phrases like "Trust me dude you guys are in!"
Full story here.
Thursday, December 17, 2009
Story Of The Year: Car Crash Leaves Woman In Persistent State of Sexual Arousal
9:01 AM
deli
Forget the GM and Chrysler bankruptcies. This is the automotive story people will be talking about the most as 2009 draws to a close.
From Jalopnik. Though the original, significantly less smart-alecky version, including an interview with Joleen Baughman can be found on the KOAT-TV Albuquerque website.
Friday, June 5, 2009
You Own GM; Will You Drive GM?
7:33 AM
deli
David Lazarus of the Los Angeles Times asks the question: Now that we (U.S. taxpayers) now own 60% of General Motors, shouldn't we be driving GM cars? What message does it send if we don't? His column and the answers he gets from Southern California drivers, here.
Monday, June 1, 2009
Wednesday, May 27, 2009
How It Happened
6:35 AM
deli
The once inconceivable is now reality. General Motors, rebuffed by bondholders, appears headed to bankruptcy court and a future we can only guess at. Peter DeLorenzo's piece on Autoextremist today is the best analysis of how the mightiest corporation ever managed to fall.
Wednesday, April 15, 2009
Just How Far It's Gone
6:31 AM
deli
A sobering article from Peter De Lorenzo at Autoextremist.com about the need for GM to re-name when (is there still a chance it's "if"?) they reorganize through bankruptcy. Read it here.
