2014-07-23

US Economic Recovery: Part XVII


December 20, 2012:
"The U.S. Treasury’s plan to sell its remaining 32 percent stake in General Motors Co. is a leap forward for the Obama administration’s effort to end a $418 billion bailout program that in four years was transformed from a political albatross to a winning campaign issue."
 http://www.bloomberg.com/news/2012-12-20/obama-proving-418-billion-bailout-no-failure-as-gm-buys-shares.html

May 21, 2014:
WASHINGTON — Members of President Obama's auto team that led the restructuring of General Motors five years ago said Wednesday they knew nothing at the time about an ignition-switch defect that has led the company to recall 2.6 million vehicles this year.
http://www.usatoday.com/story/money/cars/2014/05/21/obama-rattner-barra-gm-bailout-switch-recall/9396451/

June 6, 2014:
"[A]nd the bottom line, and why this entire bailout farce is now beyond simply criminal and purely ridiculous: as of this moment, GM has recalled more than double the number of cars it sold in all of 2013, or, another way of putting it, more than the total number of cars it sold in 2013 AND 2012 combined.
http://www.zerohedge.com/news/2014-06-16/stunning-fact-day-2014-gm-has-recalled-more-cars-it-sold-2013-and-2012

Today. July 23, 2014:
General Motors Co on Wednesday announced six recalls covering 717,950 vehicles in the United States for varying reasons, although none were related to ignition switch issues.
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Vehicles involved in the recalls announced Wednesday have been linked to two crashes and three injuries, but no deaths, GM said.
http://www.reuters.com/article/2014/07/23/us-autos-gm-recall-idUSKBN0FS1Y620140723?feedType=RSS&feedName=topNews

2014-07-22