bailout
Geithner Claims “Reasonable Chance” GM and Chrysler Will Repay Aid
But of course, there's a catch. By Chris Haak US Treasury Secretary Timothy Geithner told the Senate Appropriations Subcommittee that taxpayers were still at risk of loss from...
Ford Posts $2.1 Billion First Quarter Profit
By Chris Haak It doesn't seem as if things could go much better for Ford these days, particularly in terms of relative performance. While its crosstown rivals are still...
Congressional Panel Calls for GMAC Breakup
By Chris Haak The Congressional Oversight Panel, created by Congress to oversee the Treasury's spending of Troubled Asset Relief Program (TARP) money, said late last week that...
GM No Longer Considers Chapter 11 Filing Off The Table
By Chris Haak 02.16.2009 With the economy in the US and globally showing no signs of improvement, and the new-vehicle market showing no signs of life, the cash situation at GM...
GMAC Receives TARP Funding; Immediately Offers Better Terms
By Chris Haak 12.30.2008 The US Treasury announced yesterday that it had approved a $6 billion financial assistance package for GMAC, the heretofore 49% GM-owned/51%...
Bob Lutz, the Original ‘Car Czar’
By Sam Boni 12.25.2008 They called him Mr. Horsepower. Born in Switzerland, he is the only top executive who worked in that capacity (in alphabetical order) at BMW, Chrysler,...
Chrysler To Halt All Production for a Month – Or More
By Chris Haak 12.17.2008 Chrysler LLC announced late today that it is roughly doubling the length of its normal holiday shutdown period in an effort to both conserve cash and to...
White House Signals that TARP Money Might Be Used for Bailout
By Chris Haak 12.12.2008 President Bush, probably (and fortunately) eager to avoid the black eye on his administration's legacy should GM and Chrysler declare bankruptcy and...
Detroit Bailout Dies in the Senate
In the face of Senate Republican opposition, the $14 billion auto industry aid bill that passed in the House of Representatives on Tuesday has died. The biggest concerns raised...