Tag Archives: Obama
White House says taxpayers will get back ’some’ of auto bailout
While the White House won’t guarantee that General Motors and Chrysler Group LLC will repay the full $62 billion they received in government bailouts, it said today that taxpayers will at least get “some” of the money back. The Government Accountability Report released Monday said that automakers are “unlikely” to repay all of the government [...]
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General Motors Company CEO Fritz Henderson has repeatedly said that the Detroit automaker is aiming for an initial public offering as early as next year. However, the Government Accountability Office (GAO) said Monday that 2010 might be too soon to execute such a stock offering.
The GAO said that the Obama administration should establish a more [...]
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White House criticizes Edmunds.com over Cash for Clunker analysis
Automotive site Edmunds.com is being criticized by the White House for its harsh analysis of the impact of “Cash for Clunkers.” It said that the site’s analysis was “faulty” and “implausible.” Edmunds.com’s CEO Jeremy Anwyl shot back that the White House was “shooting the messenger.”
Edmunds, which has been known to be pessimistic about the program’s impact, [...]
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Fritz calls U.S. government imposed pay cuts ‘fair’ and ‘thoughtful’
Late last week, the Obama Administration ordered seven companies who received a significant amount of federal loan to cut the salaries of their top-level executives by an average of 90 percent and cut total compensation (including cash, stock and perks) by half.
General Motors CEO Fritz Henderson was amongst the many executives who saw government-imposed cuts [...]
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Dubya Urges Obama Administration to Sell Stake in Autos
G.W. Bush has stated his concern about the American government being involved in the private sector, lending particular mention to the auto and financial industries to an association of Montreal business people, Bloomberg reports.
Bush said in his speech that government “has got to get out of the private sector, and therefore I hope our government [...]
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Energy Secretary Steven Chu says “I would put every cent into electric cars”
U.S. Secretary of Energy Steven Chu is known for his tendency to speak plainly and bluntly, especially with regards to alternative energy vehicles and his support of electric and hydrogen vehicles.
Now, Biofuels Digest reports that at a recent meeting exploring alternative fuels, Chu said, “If it were up to me, I would put every cent [...]
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President Obama to visit GM’s Lordstown plant next week
President Barack Obama plans to make a speech at GM’s assembly plant in Lordstown, Ohio next week. While the White House won’t confirm the visit yet, officials said that the president is planning a trip as a part of a Midwest visit to talk about jobs and the economy.
Sources said that the president plans to [...]
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Obama’s Transportation Department appointees love speed cameras and tolls
During his 2008 campaign, Barack Obama made few statements on the subject of transportation. Now that he has taken office, Obama has a lot on his plate besides transportation issues. As such, he’s appointed to Ray LaHood as the Transportation Secretary of the United States to oversee transportation policy decisions. Only problem is, LaHood and [...]
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As you all know by now, when the ‘New GM’ comes out of bankruptcy court in 60 to 90 days the U.S. government will own 60 percent of the company. The Canadian governments will own 12 percent while the UAW will own 17.5 percent. GM bondholders will take a 10 percent stake.
Speaking earlier today to the [...]
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Obama confident GM can survive, GM borrows $4 billion more
As GM’s June 1 deadline winds down, the struggling automaker borrowed another $4 billion from the U.S. Treasury and won a cost-cutting deal from the Canadian Auto Workers (CAW) and United Auto Workers (UAW). However, GM still faces a huge showdown with bondholders, which will most likely drive the automaker towards bankruptcy at the end [...]
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2010 Suzuki Kizashi prices start at under $19,000
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2011 Porsche Boxster Spyder coming to LA, prices start at $61,200
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Fiat 500 with a 1.4L Mutliair coming in 4th quarter of 2010
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Jeep will move over to Fiat platforms in 2013, “I live. I ride. I am. Jeep”
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New Dodge 7-passenger crossover and C-segment on the way
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BREAKING: Only 500 more Dodge Vipers will be made, replacement coming in 2012
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Review: 2010 Buick LaCrosse CXS, no longer your daddy’s car
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Review: 2010 GMC Terrain shows how GMC is evolving
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Review: 2010 Ford Fusion Hybrid, look here for impressive fuel-efficiency numbers
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Review: 2010 Lincoln MKS EcoBoost, high-performance can be economical
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Review: 2010 Ford Taurus SHO – It’s SHOw Time
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Review: 2010 Mazda3, it’s smiling at you… and you should smile back
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Review: 2009 Porsche 911 Carrera S with PDK, launch-control active
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