11 Updates
Federal Government Reduces Stake in General Motors to 7.3%

Federal Government Reduces Stake in General Motors to 7.3%

Sep 19 2013, 1:30pm CDT | by

, US government sells off more GM stock

The United States treasury has recently sold another block of stock shares it owns in General Motors. This is part of the stock that the federal government purchased when it bailed GM out during the...

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1 year ago

Federal Government Reduces Stake in General Motors to 7.3%

Sep 19 2013, 1:30pm CDT | by

, US government sells off more GM stock

The United States treasury has recently sold another block of stock shares it owns in General Motors. This is part of the stock that the federal government purchased when it bailed GM out during the financial crisis a few years ago. With the latest selloff of GM stock, the government has reduced its stake in the company to 7.3%.

The U.S. Treasury sold more than 110 million shares between may six and September 13. The selloff of stock raised over $3.82 billion. After the selloff, the federal government owns 101 million shares of stock.

The US government took a 60.8% stake in GM for $49.5 billion when the government bailed out the company in 2009. The government has recovered about $35.4 billion the investment so far.

 
Update
11

4 days ago

GM ignition-switch recall death toll rises to 27

Oct 14 2014 8:00am CDT | Source: Autoblog

Filed under: Recalls, GM, Earnings/Financials When General Motors began addressing the ignition switch debacle earlier this year, it estimated that 13 people had died due to its negligence in replacing the faulty component. That figure, however, has more than doubled by now. According to Bloomberg, Kenneth Feinberg - the attorney whom GM appointed to oversee its compensation fund, much as he had done for 9/11 and BP Deepwater Horizon victims - has already approved 27 pa ...
Source: Autoblog   Full article at: Autoblog
 

 
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5 days ago

2015 Cadillac ATS Review

Oct 13 2014 10:41am CDT | Source: Cars.com

"The 2015 Cadillac ATS sedan remains as compelling a sport sedan as GM has ever made, but issues with the interior diminish its appeal versus the heavy-hitting German competition," said Cars.com reviewer Kelsey Mays. Check out Mays' review for more. 2015 Cadillac ATS Expert Review Cars.com photo by Evan Sea ...
Source: Cars.com   Full article at: Cars.com
 

 
Update
9

5 days ago

Cadillac Has Big Plans Between Now and 2020

Oct 13 2014 9:00am CDT | Source: Top Speed

It’s been less than three months since Johan de Nysschen left Infiniti to join Cadillac, and it seems the South African-born executive is already elbows deep trying to resurrect GM’s struggling premium brand. Speaking to Reuters on the sidelines of the Paris Auto Show, de Nysschen revealed Cadillac’s future strategy includes a product expansion that could see the introduction of at least five brand-new models over the next six years ...
Source: Top Speed   Full article at: Top Speed
 

 
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8

1 week ago

“Complete Acquiesence”: Bob Lutz Reveals How the Pontiac Aztek Happened

Oct 10 2014 3:40pm CDT | Source: Car and Driver

How do bad cars happen? How, for instance, did Pontiac’s Aztek—the greatest failed model in recent history—get all the way from flawed design to ugly product? We asked Bob Lutz, our industry expert and man-about-town, if he knew anything. Turns out, he knows quite a bit. I kind of got hired [as GM's vice chairman of product development] because of the Aztek. I was getting an award, and [then-GM chairman] Rick Wagoner introduced me and took a couple of funny digs. Wh ...
Source: Car and Driver   Full article at: Car and Driver
 

 
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6

1 week ago

Is There a Future for the Tachometer?

Oct 10 2014 3:06pm CDT | Source: Cars.com

By Ali Oswald With more and more new-car buyers choosing automatic transmissions over manuals, why do tachometers still have such a large presence on dashboards? The tachometer displays engine speed in revolutions per minute, and it can be useful in cars where there's a provision to control automatic-transmission gear changes. "Being aware of engine rpm can help you maximize not only power, but a ...
Source: Cars.com   Full article at: Cars.com
 

 
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5

1 week ago

Cadillac confirms CT8/CT9 flagship, ELR successor

Oct 10 2014 1:07pm CDT | Source: Autoblog

Filed under: Hybrid, Sedan, Cadillac, GM, Luxury Cadillac has certainly been a hot topic as of late, what with Johan de Nysschen now running the joint, moving its headquarters to New York, and overhauling the company's naming structure (only to later publicly defend all of these drastic decisions). Now, looking ahead, de Nysschen is already revealing some details about what's in store for the future, including a raft of new products that include a large, ...
Source: Autoblog   Full article at: Autoblog
 

 
Update
4

1 week ago

Four Chevy Colorados Plowed Into Each Other En Route To A Launch Party

Oct 9 2014 1:05pm CDT | Source: Jalopnik

GM can't catch a break getting the 2015 Chevy Colorado and 2015 GMC Canyon launched. Damn shame, because they're both awesome to drive. But it looks like four of the first batch have already destroyed each other in a domino-style pile-up on the way to a party in St. Louis ...
Source: Jalopnik   Full article at: Jalopnik
 

 
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3

1 week ago

Envision Quest: New Buick Envision Crossover May Arrive in U.S. Next Year

Oct 9 2014 12:17pm CDT | Source: Car and Driver

Utey-ute, utey-ute, utey-utey new news! We’d apologize to Adam Ant, but we’re of the opinion that nobody needs to apologize for Adam Ant for anything. New Romantic dopiness aside, news has come down that Buick’s eyeing a new vehicle to slot in between its venerable Enclave and the dorky-looking, eminently enjoyable Encore. Already on sale in China, the Envision may arrive here in the third quarter of 2015. In its ...
Source: Car and Driver   Full article at: Car and Driver
 

 
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1 week ago

Chevrolet is working on another electric vehicle

Oct 8 2014 11:06am CDT | Source: Driving Canada

In a push to expand its green-car lineup, GM is reportedly working on another electric vehicle. According to Automotive News, Mark Reuss, GM’s global product chief, confirmed the news last week during a shareholder presentation. Although Reuss didn’t confirm what the car will be, it is said we’ll likely see an electrified version of the Sonic debut sometime in 2017 and with a range of about 200 miles. T ...
Source: Driving Canada   Full article at: Driving Canada
 

 
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1

1 week ago

Ford F-150 - First Drive

Oct 8 2014 6:00am CDT | Source: Top Speed

Ford may be a massive automaker with products stretching the globe, but much of its success rides in the bed of the venerable F-150 pickup. The F-Series as a whole (F-150, F-250, F-350, and F-450) ranks as the best-selling vehicle in the U.S., pulling in nearly 500,000 sales in 2013. Revamping your top product is risky business, so Ford spent the better part of five years developing what was to become the all-new 2015 F-15 ...
Source: Top Speed   Full article at: Top Speed
 

 

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Shane is a self described car aficionado. He loves muscle cars, but also knows how green cars work. He has years of experience in testing cars and writes about cars with deeply felt emotions.

 

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