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GMAC Financial Services Receives $5.0 Billion From the U.S. Department of the Treasury
GMAC Financial Services today announced that it has sold $5.0 billion of GMAC’s preferred membership interests and warrants to the U.S. Department of the Treasury as a participant in the Troubled Assets Relief Program established under the Emergency...President Bush has Announced Short-Term Loans for Auto Manufacturers
President Bush has announced plans to provide emergency help for the troubled auto industry, a week after a $14 billion rescue plan for the automakers failed in the U.S. Senate.End of the Road – Senate Refuses to Pass Auto Protection Bill
Majority Democrats and minority Republicans in the U.S. Senate have failed to reach agreement on a financial rescue plan for the nation’s struggling automobile industry. Senate Majority Leader Harry Reid announced late Thursday night that lawmakers...Blame Game Rhetoric
Thursday, December 4, 2008Blame Game Rhetoric One cannot envy the position of Christopher Dodd, Chairman of the Senate Banking Committee. When the Administration sent all of its biggest guns to testify that the sky was falling, Dodd tried mightily...Same Request; New Response
Thursday, November 20, 2008Same Request; New Response Democratic Representative Michael Capuano from Massachusetts, quoted in an Associated Press story by Ken Thomas and Julie Hirschfeld Davis, came up with the best response when the Chief Executive...Battle Begins for U.S. Auto Industry Rescue Plan – Political Opinion
The battle lines are clearly drawn as Congress prepares to debate an auto industry bailout that would save General Motors from imminent failure. On one side is the auto industry, the United Auto Workers Union, Congressional Democrats and President-elect...Help for the U.S. Automobile Industry is an Investment, Not a Bailout – Political Opinion
With the U.S. Senate prepared to take up the question of a $25 billion rescue package for automakers as early as Monday (Nov. 17), partisans are loudly debating the merits of another bailout. But given current economic conditions, the answer should be...General Motors’ Market Value Below $4 Billion
General Motors’ market value stands below $4 billion at its current share price of $5.72, a far cry from its 2000 market peak of $56 billion and $94.62 per share, according to CNBC. As it stands today General Motors is in serious threat of collapse,...
