Tuesday, Jul 26, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Automotive

Senators seek deadline for stake in GM, Chrysler

WASHINGTON Republicans want the Obama administration to set a deadline for the government to sell its ownership stakes in General Motors Corp., Chrysler LLC and financial institutions.

South Dakota Sen. John Thune says Congress should set a July 2010 deadline for the government to sell its stakes in companies purchased with federal bailout funds.

A key adviser to President Barack Obama s auto task force told lawmakers Wednesday the administration planned to sell its stakes as soon as possible, but the ownership was needed to protect the taxpayers investments.

The government is expected to own 60 percent of the new General Motors and 8 percent of the new Chrysler. Thune says the ownership creates a dangerous conflict of interest between government and the private sector.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…