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Posted: 4:28 PM Nov 2, 2009
GAO: Full Recoup of Gov't Auto Investment Unlikely
WASHINGTON (AP) -- Government investigators say the U.S. government is unlikely to recover all of its investment in General Motors or Chrysler because the companies' value would need to "grow substantially above what they have been in the past."
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A Government Accountability Office report released Monday is the latest review to cast doubt on the likelihood that taxpayers will fully recoup more than $80 billion invested in the two U.S. automakers.
Treasury officials told the GAO that they are considering initial public offerings or private sales to dispose of the government's nearly 10 percent stake in Chrysler and 61 percent share of GM. But government officials won't say when that could happen because they don't want to undermine the potential return on the investment.
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Federal Open Market Committee - FOMC |
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Harley-Davidson's Pa. Plant Thought Likely To Stay
Last Updated: 10:58 AM 11/20/09 - HARRISBURG, Pa. (AP) -- A tentative contract agreement between Harley-Davidson and union members at its south-central Pennsylvania plant pledges that the motorcycle maker will stop efforts to relocate the operation to Kentucky. (Full Story) |
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Local Homeowner Got More Than He Bargained For in Mortgage Modification Process
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Last Updated: 7:12 PM 11/19/09 - It usually takes 60 days for banks and lenders to respond to a claim. (Full Story) |
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Rockford MetroCentre Leaders Speak on Financial Stability
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Last Updated: 6:41 PM 11/19/09 - The head of the Rockford MetroCentre is hoping city leaders are feeling good about the state of finances for the entertainment venue. During a meeting today Brian Luther says financially they're ahead of where they thought they'd be. (Full Story) |
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Wis. Engineers File Lawsuit Against State
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Last Updated: 12:04 PM 11/18/09 - MADISON, Wis. (AP) -- A state union bargaining unit represented about 1,100 engineers has filed a lawsuit against the state seeking to stop layoffs. (Full Story) |
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