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Showing posts with label Bankruptcy. Show all posts

U.S. Treasury: GM Repaid Loans Properly Through Escrow Account

Posted by kopok Thursday, April 29, 2010 0 comments

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.

Full story from Bloomberg.

Senator: GM Repaid Federal Loans With Federal Funds

Posted by kopok Thursday, April 22, 2010 0 comments

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.

Good News For The Dealer Dudes

Posted by kopok Tuesday, March 23, 2010 0 comments

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.

Story Of The Year: Car Crash Leaves Woman In Persistent State of Sexual Arousal

Posted by kopok Thursday, December 17, 2009 0 comments

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.

You Own GM; Will You Drive GM?

Posted by kopok Friday, June 5, 2009 0 comments

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.

GM Files For Bankruptcy

Posted by kopok Monday, June 1, 2009 0 comments

It's official. Details here.