In 2009, as the Obama administration pressed through its version of the auto bailout, creditors of companies like General Motors were squeezed into accepting repayments of just pennies on the dollar. The deal was supposed to save Detroit. Instead, creditors
General Motors launched a cross country campaign with the U.S. Chamber of Commerce on Wednesday promoting “free enterprise.” GM will provide a 2013 Chevy Traverse for two “Tour Guides,” writer Joe Epstein and Huffington Post reporter Nate Hindman, to travel to over
(AP) Family: Michigan woman, 33, killed in Syria fightFLINT, Mich.The family of a 33-year-old Michigan woman says the FBI confirmed Thursday that she was killed in fighting in Syria. She was identified as Nicole Lynn Mansfield of Flint. Her cousin,
Andrew Stuttaford at National Review highlights an interesting report on The Center for American Progress (CAP), the progressive think tank most closely associated with President Obama’s administration. Among other things, they publish the progressive blog Think Progress. CAP is partly
Two Congressmen are asking the Treasury Department if it inappropriately scrutinized conservative-owned businesses the same way it targeted Tea Party groups filing for tax-exempt status. Republicans Mike Kelly (PA-03) and Jim Renacci (OH-16) circulated a letter Thursday requesting Treasury Secretary
(AFP) – General Motors, the largest US automaker, on Wednesday joined a call for the United States to take greater action on climate change as it said that environmental concerns were critical for business. General Motors became the first automaker
(AFP) US auto giant General Motors is withdrawing a global advertisement which refers to China as the land where people say “ching-ching, chop suey” after admitting it contains “offensive content”, a report said Wednesday. The television advert for the Chevrolet
Reuters is reporting that US automakers joined with other local businesses to donate $8M for new ambulances and firetrucks to fiscally-battered Detroit. General Motors Co, Ford Motor Co, Chrysler Group LLC, which have their headquarters in the Detroit area,
(AP) GM recalls about 27K vehicles to fix transmissionsBy The Associated PressDETROITGeneral Motors is recalling nearly 27,000 Buicks and Cadillacs in the U.S. to fix a problem with the automatic transmissions. The recall affects Buick LaCrosse full-size cars and Cadillac
The business community, which was quite involved in the “fiscal cliff” arguments last December, appears to be less concerned about the budget cuts implemented by the sequester. As opposed to the way the community responded in December, lobbying on Capitol
An Inspector General’s report from the Department of Energy (DOE) recently revealed that the LG Chem auto battery plant in Holland, Michigan “inappropriately claimed and was reimbursed for labor costs that did not support the purpose/objective” of a government grant. According to
(Reuters) – General Motors Co paid $119 million in September to buy back a 1 percent stake in its joint venture with its top Chinese partner SAIC Motor Corp , which it had given up ahead of its 2009 bankruptcy.
President Barack Obama will feature eight “citizen co-chairs” at his second inauguration festivities, each of whom has purportedly benefited from policies he enacted in his first term. As with the use of children at his announcement of new gun control
(AP) Toyota retakes global auto sales crown from GMBy TOM KRISHERAP Auto WriterDETROITToyota has dethroned General Motors as the world’s top-selling automaker. The Japanese company sold 9.7 million cars and trucks worldwide in 2012, although it’s still counting. GM sold
Roughly 50,000 General Motors union workers will receive bonuses of between $5,500 and $7,000 to close out 2012, say sources familiar with internal discussions between United Auto Worker officials. In 2009, General Motors scored a $49.5 billion bailout from the
Barack Obama saved General Motors with his words–and you paid for it with your money. The Obama administration said the government will sell 40% of its ownership, amounting to 200 million shares, back to GM, and will exit ownership by
New York Post: Michigan gave birth to the United Auto Workers. The union was founded at a convention in Detroit in 1935. After its famous sit-down strike in Flint, Mich., in 1937, the UAW won recognition by General Motors and,
(AP) Chinese company wins bid for battery maker A123NEW YORKBankrupt battery maker A123 Systems Inc. on Sunday said it will sell most of its assets to the U.S. arm of Chinese auto parts conglomerate Wanxiang Group Corp. for $256.6 million.
BuzzFeed recently compiled a list of things Millennials, those who are 18-30 years of age, have been accused of supposedly ruining, and some the findings show how bleak the Obama economy has been for young people. Young people in Obama’s economy
Suddenly, the Left is claiming that crony capitalism is a bad thing. The Toilet Paper Roll of the Left (The New York Times; no matter how it’s perfumed it still stinks) published an interminably long piece decrying crony capitalism. This
Matthew Boyle, the investigative journalist who has been lauded for his work on President Barack Obama and Attorney General Eric Holder’s Fast and Furious scandal, has joined Breitbart News. He is seen a rising star among center-right journalists, and Michelle
Since entering conservatorship in September 2008, $188 billion in taxpayer funds have been used to prop up Fannie Mae and Freddie Mac. Granted, the two companies have repaid $45 billion in dividends to the Treasury, but most of the funds
From the So-Painfully-Obvious-We-Shouldn’t-Have-to-Run-This-Study Department: Study: Electric-Cars Won’t Make a Big Impact Until Prices Fall Shocker. What are those sticker prices? (T)he base price of a Toyota Prius comes in at $24,995 but the plug-in version starts at $32,795. The Chevrolet
After the dust has settled on the 2012 election, Republicans, establishment types, Tea Partiers and the like, need to take a long hard look at our electoral failures. There are those that will blame the Romney campaign, those who will
Barack Obama convinced many people he acted heroically when he bailed out General Motors with $50 billion from U.S. taxpayers in 2009. Tell that to the 20,000 Delphi employees who saw their pensions sliced from 30% to 70%. Delphi was
