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According to a report released by the U.S. Treasury Department this week, the government lost more than $9 billion on its bailout of General Motors Corp., Chrysler LLC and auto lending arms Ally Financial Inc. and Chrysler Financial.
Read More →The court’s decision will allow the case pitting 148 defunct Chrysler dealerships against the U.S. government to proceed. The dealerships were closed as part of Chrysler’s 2009 bailout agreement.
Read More →Ally Financial announced Tuesday in a filing with the SEC that it will explore alternatives to repay the Treasury for its $17.2 billion bailouts, according to The Detroit News. Ally must reach a payment agreement with the Feds before it can go forth with its planned IPO.
Read More →To date, the U.S. Department of the Treasury has recovered about $29.8 billion of its investment in General Motors.
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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