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A lawsuit alleging that the U.S. government acted illegally when it required Chrysler to close down 789 dealerships in order to be eligible for funding from the Troubled Asset Relief Program will be allowed to move forward, a judge ruled last week.
Read More →The U.S. Department of the Treasury announced this week that it expects to sell 410,000 shares of Ally Financial Inc. common stock in a private offering at $7,375 per share. The sale is part of the department’s continued effort to wind down the Troubled Asset Relief Program.
Read More →The U.S. Department of the Treasury will remove itself from GM investments within 12-15 months by selling off its 500 million shares of common stock — 200 million back to GM, and the remainder through “various means.”
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Two years after leaving office, former President George W. Bush remains a harsh critic of the executives he believes led the U.S. auto industry down the path to self-destruction.
Read More →Despite its auto finance unit’s profit nearly tripling, mounting charge-offs led Capital One Financial Corp. to report a second-quarter loss of $275.5 million.
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