Free Republic

General Motors warned Friday that President Trump’s threatened tariffs on imported vehicles could lead to “a smaller GM,” isolate US businesses from the global marketplace and cause job losses. “Increased import tariffs could lead to a smaller GM, a reduced presence at home and abroad for this iconic American company, and risk less — not more — US jobs,” the Detroit-based automaker said in comments filed with the Commerce Department, The Street reported. “Combined with the other trade actions currently being pursued by the US Government — namely the Section 232 Steel and Aluminum tariffs and the Section 301 tariffs...

The U.S. government lost $11.2 billion on its bailout of General Motors Co, more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday. The $11.2 billion loss includes a write-off in March of the government's remaining $826 million investment in "old" GM, the quarterly report by a Treasury watchdog said.

General Motors stock began trading on Wall Street again Thursday, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion infusion from taxpayers. The stock rose sharply in its first minutes of buying and selling, going for nearly $36 per share -- nearly $3 more than the price GM set for the initial public offering. The stock traded for less than a dollar when the company filed for bankruptcy last year. On the floor of the New York Stock Exchange, a crowd eight deep jostled around the company's trading post, adorned...

The Obama administration's auto czar on Tuesday said political interference by Congress could jeopardize the bailouts of General Motors and Chrysler.