Free Republic

The federal government on Thursday ended its partial ownership of Chrysler, completing a sale of its stake in the automaker to Fiat S.p.A. of Italy for $560 million. The sale, which gives Fiat majority control of Chrysler, leaves taxpayers $1.3 billion short of recovering the $12.5 billion lent to the company as it slid into bankruptcy protection a little more than two years ago. The remaining balance belongs to the “old Chrysler” — a collection of unwanted assets being liquidated in bankruptcy — and is unlikely to be repaid, the Treasury Department said in a statement. “With today’s closing, the...

US Senate candidate urges Mexico reforms Los Angeles, CA, Oct. 11 (UPI) -- A candidate for the U.S. Senate Monday called on Mexico to improve its economy and, therefore, reduce illegal immigration to the United States. Republican Bill Jones, who is challenging incumbent Democrat Barbara Boxer for one of California's two Senate seats, said Mexico needed to improve its education, reduce corruption and improve its investment climate in order to create more jobs for Mexican citizens who currently look to the United States for their futures. In remarks to the California Narcotics Officers' Association, Jones said labor and energy costs...