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On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus $24.1 million USD as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a ...
Due to the declining residual value of their vehicles, Chrysler and GM stopped offering leases on most of their vehicles in 2008. [92] In September 2008, the Big Three asked for $50 billion to pay for health care expenses and avoid bankruptcy and ensuing layoffs, and Congress worked out a $25 billion loan. [93]
The company ended the third quarter of the year with cash reserves of $16 billion, but it estimates that it should have at least $11 billion on hand to maintain its operations. Without a federal loan, GM expects its cash reserves to fall to $10.1 billion by year's end and to fall to $3.6 billion by February. [citation needed]
If you’re looking for an easy way out of your student loan debt… this isn’t it. ... you may find relief through a debt forgiveness program for military. And you’d have plenty of company ...
A VA cash-out refinance option allows qualified veterans to borrow up to 100 percent of their home’s value in cash at closing, though some lenders may limit the amount to 90 percent. Either way ...
Some GM and Ford EVs will lose the $7,500 federal tax credit this year, but GM is taking steps to make sure it's only temporary. GM to offer $7,500 discount on EVs that don't qualify for tax ...
The Emergency Economic Stabilization Act of 2008, also known as the " bank bailout of 2008 " or the " Wall Street bailout ", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks. The bill was proposed by Treasury Secretary Henry Paulson, passed ...
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