(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
The government’s bailout of the automobile industry was rife with cronyism that bagged Obama bundlers and Administration insiders millions and left taxpayers holding the bill. That’s the conclusion Government Accountability Institute President Peter Schweizer reached when he investigated little-known details
President Barack Obama incessantly touts the alleged “success” of the $50 billion General Motors (GM) bailout, evidence to the contrary notwithstanding. General Motors – The Government’s Warped Definition of ‘Success’ Much like the Obama Economy, General Motors’ numbers are tanking.
(AP) GM 3Q profit falls 12 pct.By TOM KRISHERAP Auto WriterDETROITGrowing losses in Europe and warranty costs in North America lowered General Motors’ third-quarter profit by 12 percent. But the company posted better-than-expected results in South America and internationally, and
President Barack Obama was on the campaign trail, at least as late as this July, claiming that $50-billion-bailed-out General Motors (GM) was back – as the globe’s top car seller. The President was saying this long after it stopped being
Amidst much fanfare, President Obama shook hands with workers at the July 15, 2010 ground breaking ceremony for the LG Chem plant in Holland, Michigan, built with a $150 million grant from the Department of Energy as part of his
For months, President Barack Obama has used the auto bailout as the signal example of economic success under his administration. And he has attacked rival Mitt Romney for arguing, in a New York Times op-ed in November 2008, that the auto industry should
A picture is worth a thousand words. Here are several that tell the $82 billion auto bailout story a whole lot better than the Barack Obama Administration has. We have been told ad nauseum that the auto bailout was unavoidable
President Barack Obama’s supporters, incredulous at their candidate’s defeat in last night’s debate, and worried about the September jobs report, are reaching for phony economic arguments across the networks and social media today. Some are familiar arguments from Obama’s own
From the moment General Motors (GM) cashed in our $50 billion in auto bailout coin, Government Motors was born, and has been little more than a Barack Obama Administration Crony Socialist Welfare delivery device. This is not Crony Capitalism, because
(AP) GM offers big discounts to boost Volt salesBy TOM KRISHERAP Auto WriterDETROITGeneral Motors rolled out the Chevrolet Volt two years ago with lofty sales goals and the promise of a new technology that someday would help end America’s dependence
(AP) GOP focuses on monthly jobs report, but do voters?By TOM RAUMAssociated PressWASHINGTONThe government’s monthly jobs report has become Washington’s most anticipated and studied economic indicator, pounced upon by politicians, economists and journalists for snap judgments as the presidential election
Why should Ohioans reject Barack Obama? Because he and his Administration are duplicitous. You think only conservatives think Obama is a cheat and a liar? Fine. Ask the most liberal member of the senate, your own Sherrod Brown. Brown is
Vice President Joe Biden has a suggested slogan for the Obama/Biden 2012 campaign. He repeats it everywhere he goes. “Osama Bin Laden is dead,” he bellows, “and General Motors is alive!” There’s only one problem. He’s wrong. Yes, Bin Laden’s
Even President Barack Obama’s biggest defenders are taking their shots at him this week. Michael Moore, the far-left filmmaker behind “Sicko,” took to the cyber-pages of The Huffington Post to refute one of the president’s biggest talking points. No, Moore
Robert J. Shillman, Chairman of the machine vision company Cognex, has had enough of President Barack Obama’s anti-business rhetoric. Shillman is launching a “Business Is Good” (B.I.G.) campaign to “counteract the ‘Big Lie’ that successful businesses and the people who
This is getting ridiculous. General Motors (GM) is halting, for a month, the manufacture of its well-known but seldom-sold Chevrolet Volt extended-range electric car, according to trade publication Automotive News. Certainly this is but the first time this has happened.
At the Democratic National Convention in Charlotte next month, the Obama Administration plans to tout its auto bailout “success” as a reason to re-elect him. While such claims may rally the UAW delegates at the convention, it’s not likely to have
Recent actions by General Motors regarding subprime lending reveal how much Warren — and the Obama administration — are willing to pull strings to pick winners and losers. The Investors Business Daily recently noted in a story that “while the administration
In response to a question Wednesday morning in Europe, Treasury Secretary Timothy Geithner said that Congress should be taking advantage of low interest rates and increase investment (spending) to bolster growth. He said that the low rates on U.S. debt
National Public Radio (NPR) is apparently moving from news to full-time, taxpayer-funded Super PAC-style advertising for President Barack Obama’s reelection campaign. That is apparent from today’s report by Ari Shapiro on Obama’s campaign appearances in Ohio, where the president–who maintains
(AP) GM profit falls 41 percent on weakness in EuropeBy TOM KRISHERAP Auto WriterDETROITA big loss in Europe dragged down General Motors’ second-quarter profit. The automaker’s net income from April through June fell 41 percent to $1.5 billion, $1 billion
The Romney campaign has just released two new advertisements–one for television and the other for the web–attacking President Barack Obama’s record on General Motors and the economy, respectively. The GM ad, produced for TV, aims directly at one of Obama’s
Yes, General Motors really is giving $600 million to an English soccer club. Actually, as the team involved, Manchester United, is the most valuable team in sports, an investment in the club wouldn’t be a bad idea, considering how everything
Remember that vaunted General Motors recovery ushered in by President Obama’s bold bailout program? Well, not so much. In June 2009, GM filed for Obama-managed bankruptcy, costing the taxpayer some $50 billion. The vast majority of that cash was never
Recall the gi-normous Leftist kerfuffle kicked up around Republican Presidential candidate Mitt Romney’s utterly uncontroversial utterance: “I like being able to fire people who provide services to me.” Which is a perfectly reasonable perspective. So of course the Left went
President Barack Obama and his Democrat Party are doing everything they can to squelch the First Amendment. Which in part reads: Congress shall make no law…abridging the freedom of speech,…or the right of the people peaceably to assemble, and to
