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Role of TARP Assistance in the Restructuring of General Motors
Role of TARP Assistance in the Restructuring of General Motors
 
Our Price: $20.00
By Bill Canis (au); Baird Webel (au)
Year: 2012
Pages: 18
Binding Paperback
ISBN 978-1-4578-4052-4

Product Code: 1457840529

Description
 
General Motors Corp. (Old GM) was a publicly traded company from 1916 until its bankruptcy in 2009. As part of restructuring, Old GM and its successor General Motors Co. (New GM) together received over $50 billion in federal assistance through the U.S. governmentäó»s Troubled Asset Relief Program (TARP). In exchange for this financial support, the U.S. Treasury received 60.8% of the new company, with the rest of New GM held by the United Auto Workers (UAW) retiree health care trust fund, the governments of Canada and Ontario, and holders of Old GMäó»s bonds. In its restructuring, GM closed plants, cut its hourly and salaried workforce, shed three brands, reduced debt, introduced popular new vehicles, and implemented changes in retiree legacy costs that had been a major financial drain. In Nov. 2010, New GM conducted an initial public offering (IPO) of stock to investors, once again becoming a publicly traded company, although the post-bankruptcy owners, including the U.S. government, continue to hold significant stakes in the company. Contents of this report: Introduction; GMäó»s Capital Crisis in 2008-2009; U.S. Government Assistance to the Motor Vehicle Industry; U.S. Government Assistance for GM Through Bankruptcy; Post-Bankruptcy GM;Elements of U.S. Government Ownership; Recouping U.S. Government Aid to GM; Conclusion. Figures and tables. This is a print on demand report.

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