Author : Gene L. Dodaro
Publisher : DIANE Publishing
Page : 41 pages
File Size : 29,7 MB
Release : 2010-06
Category : Business & Economics
ISBN : 1437924905
Book Description
The Dept. of the Treasury (Treasury) provided $81.1 billion in Troubled Asset Relief Program (TARP) aid to the U.S. auto industry, including $62 billion in restructuring loans to Chrysler Group LLC and General Motors (GM). In return, Treasury received 9.85% equity in Chrysler, 60.8% equity and $2.1 billion in preferred stock in GM, and $13.8 billion in debt obligations between the two companies. This report addresses: (1) steps Chrysler and GM have taken since Dec. 2008 to reorganize; (2) Treasury¿s oversight of its financial interest in the companies; and (3) considerations for Treasury in monitoring and selling its equity in the companies. Includes recommendations. Charts ad tables.