April 20, 2024
Ford

Ford Motor Company chops off $4 billion worth of debt

Recently Ford has had some issues with their stock pricing due to investor concern about slow sales within the automotive industry and uncertainty over how the company will pay the UAW’s health care trust fund. The news that came from Dearborn today will most likely calm spirits and even make some brokers jump for joy

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General Motors

Congressmen say GM executives destroying documents

According to some reports from a couple of top Republicans GM executives have been destroying documents and other records which may shed light on corporate decisions that have spurred investigations into the company by a House oversight committee. These accusations are signed by U.S. Republican Darrell Issa, California, and U.S. Republican Jim Jordan, Ohio and

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Opel

Opel’s bid for state aid rejected

Pending a situation of uncertainty and a delay of a session destined to reach a decision, Opel finally got an answer from the German government and it will be not receiving any state aid. Yesterday, GM’s request for aid from the federal government in order to keep its Opel unit going clashed with representatives and

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General Motors Opel

German government delayed a vote concerning Opel state aid

The German rescue fund’s four-person steering committee is expected to meet on June 7th to discuss whether to approve General Motors’s request for 1.1 billion euros ($1.3 billion) in federal and regional assistance for its European unit, Opel. Instead of meeting last Friday, the meeting was postponed for tomorrow despite a long line of delays

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General Motors Opel

Germany hasn’t decided on Opel’s aid

The German Government has yet to produce a final decision on the plan of helping Opel’s situation and this is creating quite a bit of tension as thousands of jobs at the GM unit remain attached to an uncertainty of the future. Opel has been loosing money for quite some time and is seeking Government

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Chrysler

Chrysler repays 1.9 billion to the U.S. Government

We all know that the news from Detroit’s Big Three don’t always come in to put a smile on everyone’s face and Chrysler is the one that has been seeing less of the good type lately. However, a recent announcement from the U.S. Government may be proof that the hope Sergio Marchionne has been talking

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Chrysler Ford General Motors

Detroit’s Big 3 improving but have a long way to go

We all remember the horrific news that came from Detroit around a year ago but now the headlines make for pretty much opposite extras to read all about. In short, Ford has recorded $2.1 billion in profits, General Motors managed to pay off the treasury loan early despite proving profits and Chrysler have managed to

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Chrysler General Motors

President Obama stated the auto industry bailout was paid off

President Barack Obama said that the bailouts that the government funded for the American automotive industry had paid off. The announcement made it to the public via the president’s Web address last Saturday.

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Fisker

Department of Energy will loan Fisker 529 million dollars

Fisker Automotive will receive a loan totaling 529 million dollars from the U.S. Department of Energy for the development of tow plug-in hybrid electric-vehicles. This loan will provide Fisker with the resources needed to produce the Karma plug-in hybrid sedan and a line of family oriented models being developed under the company’s Project NINA program.

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General Motors

General Motors and their money

According to an announcement made today by Ed Whitacre, CEO of General Motors, the company has payed back the government loans in full today. The sum sent by GM to the US Treasury and Export Development Canada comes to a total of 5.8 billion dollars.

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