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GM Buys Up Daewoo Share Offering, Increases Stake To 70 Percent$413m isn’t a ton of money for one of the largest global automakers, but GM’s purchase of Daewoo’s entire share offering still doesn’t completely add up. After all, GM was barred from spending US taxpayer bailout money on overseas assets. And it’s not like GM wanted ... |
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Pay Czar Increased SalariesTreasury pay czar Feinberg last week announced sharp cuts in total compensation at the finance and auto companies under his purview. But he substantially increased regular salaries, a move that reflects the complex mix of political and economic issues at play. ... |
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Ask the Best and Brightest: Have the Feds Done Too Much or Too Little for Detroit?Diners at the Motown bailout banquet are back at their tables, their plates groaning under the weight of federal “investment.” They’re just now beginning to tuck in, spending your hard-earned money on various plans to achieve what Oliver called “that full-up feeling.&rdquo... |
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America The JunkieAmerica suffers from a severe addiction to a drug called Easy Money. It can be smoked, snorted, or directly injected into the veins of the economy, but the effect is the same: an artificial high that feels great, promotes over-indulgence, and perverts our sense of risk. As with any narcotic, thou... |
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AIG was (is?) bonus happyAt least they didn't exclusively shower money on the top of the top, but still. How is it remotely possible to justify these bonuses when you are on life support? The answer, of course, is because the US government allowed them to get away with it. They can plead ignorance all they like and ye... |
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Bank of America E-Mails Shed Light on Merrill DealNew internal documents from Bank of America suggest that bank officials may have told the federal officials of their plans to exercise an escape hatch in their deal for Merrill Lynch as part of a high-stakes negotiating strategy to arrange a second bailout from the government. ... |
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