If you like what’s happened to the auto industry, you’ll love this. Bloomberg is reporting today that Ron Bloom — the head of the Obama Administration’s automobile task force — will soon get an expanded portfolio, with responsiblity for crafting Administration policies for all manufacturing industries. Yet another Obama Administration …
The American taxpayer owned General Motors recently announced that its 2011 Chevrolet Volt will get 230 miles per gallon. While the Obama administration has repeatedly claimed it has “no interest” in running GM, from literally its first day as majority owner of the car maker the White House has been …
WHY TARP NEEDS OVERSIGHT The announcement that the government would provide $30 billion dollars more in TARP funds to General Motors in exchange for a 60 percent ownership interest in the company is unprecedented and almost unbelievable. Who ever imagined the taxpayers would wake up Monday morning and find out …
The Administration’s plan to take over General Motors certainly startled a lot of people, both in the U.S. and internationally. Now comes word that even Hugo Chavez — an acknowledged expert in the theory and practice of nationalization — found the move remarkable, publicly musing as to whether President Obama …
Despite his many promises to the contrary, President Barack Obama has repeatedly failed to bring transparency to the federal government. That failure now continues with the Obama administration’s nationalization of General Motors. The Detroit Free Press reports: A day after filing for a bankruptcy reorganization that will be largely financed …
Here’s a shocker. Among the cheerleaders for President Obama’s plan to increase federal fuel efficiency mandates were General Motors and Chrysler — two companies that are, at the moment, virtually run by the federal government itself. GM’s Fritz Henderson, who was made CEO when Rick Wagoner was effectively fired by …
In a surprisingly frank statement this morning, General Motors CEO Fritz Henderson confirmed that the Treasury Department is calling the shots on the company’s on-going restructuring. As reported by the New York Times, Henderson stated that GM was told by the Treasury Department to offer bondholders only up to 10 …
