General Motors knew about faulty ignition switches that could cause vehicle engines to turn off, disabling air bags with deadly results. Federal government investigators with the National Highway Traffic Safety Administration knew about this problem but as this report notes the NHTSA “twice passed on investigating” the faulty switches that “led to at least…
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In early June the government sold 30 million shares of GM, a move doubtless timed with GM’s return to the S&P 500 index, a position the auto giant lost in 2009 when it filed for bankruptcy reorganization. But as Business Week noted, as of April 30 the federal government still held 241.6 million GM…
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The U.S. Treasury Department has invested $50 billion in the General Motors bailout and now owns 26.5 percent of GM stock, about 200 million shares and more than one-fourth of the company. GM was happy to get the taxpayer dough but now wants the government to sell its stock. Trouble is, the government won’t…
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