General Motors on Tuesday doubled to 1.6 million the number of small cars it is recalling to fix faulty ignition switches linked to multiple fatal crashes.
The U.S. government expects to sell its remaining General Motors stock by the end of the year.
Twenty percent of drivers say they would buy a fully computer-operated vehicle, and 90 percent would switch to an autonomous vehicle if they could get cheaper car insurance.
A watchdog says the U.S. government expects to lose $9.7 billion on its bailout of General Motors.
During the bleakest days of the Great Recession, Congress agreed in bipartisan votes to bail out two of Detroit’s biggest businesses, General Motors and Chrysler.
Auto manufacturing is back in America – especially in Michigan, Ohio and Pennsylvania because President Obama made the politically risky decision to bailout the auto industry after bailing out the banks. It was a decision that worked. Obama was right, Romney was wrong. So Romney is now in full lying mode. He is trying to retroactively re-write the wrongs in his writings.
Yes, it’s great that all turned out well for the auto workers, but it is absolutely horrendous to know that the American taxpayers via President Obama’s actions could have been left standing for billions of dollars – and still might.
President Barack Obama is hailing the rebound of the U.S. auto industry, pointing to progress since his administration rescued General Motors and Chrysler.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
Top executives at three companies bailed out by U.S. taxpayers during the 2008 financial crisis were ordered to take pay cuts by the federal government.