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Keyword: gmbankruptcy

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  • [David] Letterman: Say, Obama’s kind of lying about this GM bankruptcy thing, huh?

    10/24/2012 1:48:38 PM PDT · by Justaham · 37 replies ^ | 10/24/12
    Alternate headline: Even Late Night Comedy Shows Must Interview Obama Off the Record. Noel Sheppard picks up David Letterman’s belated realization that Barack Obama — one of his favorite guests — has misrepresented Mitt Romney’s position on GM and the auto bailout for months. Letterman tells MSNBCs Rachel Maddow that he finds it disappointing when a challenger proves to be more honest than an incumbent President: DAVID LETTERMAN, HOST: Here’s what upset me last night, this playing fast and loose with facts. And the President Obama cites the op-ed piece that Romney wrote about Detroit, “Let them go bankrupt, let...
  • General Motors is Head For Bankruptcy -- Again

    08/16/2012 3:55:24 PM PDT · by Harley · 45 replies
    Forbes ^ | 8/15/2012 | Louis Woodhill
    President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market. Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion...
  • One Year After Its Bankruptcy, GM Is Still Married to the UAW

    06/21/2010 6:56:36 AM PDT · by SeekAndFind · 22 replies
    National Review ^ | 06/20/2010 | Henry Payne
    Detroit — They’re b-a-a-a-a-ck. Actually, they never left. And that’s the problem. It’s fitting that — one year to the month since GM declared bankruptcy — the annual United Auto Worker’s convention is being held here amid renewed, militant calls that the Detroit Three give back last year’s labor concessions. In retrospect, the White House–engineered bankruptcy looks like a brilliant move, artfully dodging a prolonged bankruptcy of a major American industry in the middle of a national economic free-fall. But it is also apparent that the “UAW bailout” — engineered by a union-beholden Democratic president — did not address Detroit’s...
  • GM CEO says government loans have been repaid

    04/21/2010 8:39:27 AM PDT · by worst-case scenario · 33 replies · 1,335+ views
    AP ^ | Apr 21 2010 | TOM KRISHER
    DETROIT — General Motors Co.'s CEO said Tuesday that the automaker has repaid the $8.1 billion in loans it received from the U.S. and Canadian governments, a sign that a plan to rebuild the company is working. GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans. The loan payback to the U.S. government comes five years ahead of schedule, and Whitacre...
  • Surgical’ Bankruptcy Possible for G.M.

    04/12/2009 7:23:37 PM PDT · by zaphod3000 · 18 replies · 985+ views
    NYT ^ | Apr 12, 2009 | MICHELINE MAYNARD and MICHAEL J. de la MERCED
    The Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by a June 1 deadline, despite G.M.’s public contention that it could still reorganize outside court, people with knowledge of the plans said during the weekend. Members of President Obama’s automotive task force spent last week in meetings and on conference calls with G.M. officials and its advisers in Detroit and Washington. Those talks are expected to continue this week. The goal is to prepare for a fast “surgical” bankruptcy, the people who had been briefed on the plans said. G.M., which has been granted...