Former President Bush Says He Would Bail Out Automakers Again

Former President Bush Says He Would Bail Out Automakers Again
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While still in office, Bush pushed through a rescue package of some $25 billion in emergency aid, $4 billion set aside for Chrysler, while some $13.4 was allocated to GM; this was followed by an additional $60 billion from the Obama administration in 2009. Continue Reading...

Fiat Takes Majority Stake In Chrysler

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Fiat Takes Majority Stake In Chrysler
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They made the threat before, but now it’s official: Fiat controls 52% of Chrysler, and just like in 1998 The House That Walter Built resides mostly in Europe. Late Thursday night the US Treasury Department agreed to sell its remaining 6% stake in Chrysler to Fiat, with a price tag of $500 million. And with… Continue Reading...

Fiat Planning To Acquire Last Government Stake In Chrysler

Fiat Planning To Acquire Last Government Stake In Chrysler
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It’s been a dramatic week at Chrysler‘s financial department. Now that Chrysler’s paid off its bailout loan from the government, Fiat is looking to step in and take the government’s remaining share off its hands. Fiat already holds a not-insubstantial 46 percent share in Chrysler. But even though Chrysler and the U.S. and Canadian governments… Continue Reading...

Chrysler To Repay Government Loans This Summer Thanks to Creative Debt Refinancing

Chrysler To Repay Government Loans This Summer Thanks to Creative Debt Refinancing
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Chrysler Group LLC has just announced that it plans to fully repay the loans it took from the U.S. and Canadian governments by the middle of this year. In a statement from the auto maker, it says “Chrysler Group intends to complete the repayment during the second quarter of 2011 from proceeds of a new… Continue Reading...

Saab Deal With Volvo Apparently A No Go

Saab Deal With Volvo Apparently A No Go
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However, Volvo has now gone on the record, stating that no such talks have taken place. In the meantime, Saab CEO Victor Mueller, is continuing to look for other sources to tap into for capital, including Chinese automakers. Continue Reading...

Lotus Looking For Government Backing For Its Future

Lotus Looking For Government Backing For Its Future
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Last year, some American car companies looked to their government for financial help to keep them afloat and use the money to develop new products. Some of them have actually used the money properly and produced some decent new models. Over in the U.K., Lotus is looking at the British government to help out in… Continue Reading...

GM Withdraws European Loan Applications, Opts to Fund Opel/Vauxhall Programs Itself

GM Withdraws European Loan Applications, Opts to Fund Opel/Vauxhall Programs Itself
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However with the German government seeking to enter new negotiations, GM has pulled the plug on external fundling. Continue Reading...
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