Government of Canada Sells Remaining Shares in General Motors to Goldman Sachs, Worth $2.7B
7 Apr 2015, 15:53 UTC · By: Mircea Panait / If your name if Goldman Sachs, lucky you! According to the Government of Canada, you're buying a lot of General Motors shares for an impressive $2.7 billion
US Auto Industry Bailout Leaves the United States Treasury With a $9.26 Billion Loss
31 Dec 2014, 10:44 UTC · By: Mircea Panait / Even though the mid-2000s were great for any automaker due to rising demand for new cars, the world financial crisis came around to mess everything up, even the proverbial 1 percent. Of course, we a...
Auto Bailout Ads Used by Obama Campaign for Reelection
11 May 2012, 08:14 UTC · By: Andrei Nedelea / Barack Obama is trying really hard to get reelected for his second term. In an effort to win popular support, his campaign have released two ads regarding the bailout of the US auto industry. The...
Ford Takes a Shot at Chrysler and GM for Receiving Bailout Money
19 Sep 2011, 09:31 UTC · By: Mihnea Radu / With talk of the US economy going South again, things aren’t particularly rosy right now, but for the automotive industry, 2009 was the worst year in recent history. Banks were already getting...
Treasury Department Gains $11.7 Bn from GM's IPO
24 Nov 2010, 12:02 UTC · By: Andrei Costea / The US Treasury Department has received $11.7 billion following the sale of 358.5 million shares of stock in General Motors Co. Its stake shrunk to 37 percent from 61 percent after the IPO, and coul...
GM Thanks You, the American Taxpayer
24 Nov 2010, 08:23 UTC · By: Daniel Patrascu / Christmas is near, Thanksgiving even closer and, as the word goes, all those warm and fuzzy feelings you usually keep hidden deep down during the year come bursting out, at times forcing you to do t...
New Year's Resolutions...
21 Nov 2012, 14:06 UTC · By: Alex Oagana / ... for car makers. According to the usa.gov website, the five most popular New Year's Resolutions in the US are, in this order: lose weight, managing debt, save money, get a better job and get...
Three wise monkeys...
21 Nov 2012, 14:06 UTC · By: Alex Oagana / ...while I somewhat agree and don't agree with the subject of anything that concerns bailout money, I'm completely baffled by the circus put in by the mizaru, kikazaru and iwazaru monkeys ...
Whitacre Becomes Permanent CEO of GM
25 Jan 2010, 21:09 UTC · By: Andrei Tutu / Edward Whitacre has said “yes” to General Motor’s proposal to continue as chairman and CEO of the company. The information was announced during GM's press conference held at h...
The Painful Conclusion: US to Lose $30Bn on Auto Bailout
9 Dec 2009, 10:09 UTC · By: Daniel Patrascu / The crazy year for the automotive sector will take its toll on US' finances, as the Obama administration is getting ready to admit to Congress a partial defeat and the lose of no less than $30 ...
AvtoVAZ Workers Rallied Against Potential Job Cuts
10 Aug 2009, 14:37 UTC · By: Alexandru Radu Chis / After we reported in late July that Russia's biggest auto maker, AvtoVAZ was closing its production gates for a month, we now return with updated news regarding this subject. More than 2,000...
GM Will Get $4 Billion Aid...
17 Feb 2009, 15:05 UTC · By: Daniel Patrascu / ...or at least this is what a White House aide said today, as reported by Reuters. The news, or should we say pat on the back, comes only hours away from the deadline set for the company to present ...
GM and Chrysler May Indeed Go Bankrupt
9 Feb 2009, 16:28 UTC · By: Alex Oagana / The Big Three automotive soap opera appeared to reach a happier-than-expected finale in mid-December, when General Motors and Chrysler LLC received a $17.4 billion low-interest loan from the United ...
Sales Drop, Ford and Vauxhall Increase UK Car Prices
4 Feb 2009, 13:34 UTC · By: Madalina Iancu / Although they have reported poor sales given the economic recession and despite the recent government bailout, Ford and Vauxhall decided to increase UK car prices. According to BBC News, the two ...
Chrysler CEO Promises to Invest Bailout Money in North America
2 Feb 2009, 08:42 UTC · By: Bogdan Popa / Despite the fact that the automaker recently signed a strategic agreement with Fiat, the bailout money sourced from the United States Treasury will be exclusively used in North America, Chrysler CEO...
Jaguar Land Rover Doesn't Ask For Government Bailout
23 Jan 2009, 10:52 UTC · By: Madalina Iancu / “We do want to get out of the misery but we categorically refuse to beg” seems to be Jaguar Land Rover's motto during the current economic crisis. Reuters has recently reported t...