[Excerpt] This report analyzes the crisis leading to Old GM’s bankruptcy, the U.S. government’s assistance to, and role in, the new company, the progress that General Motors Company has made since it was created, and the recoupment of the U.S. government’s assistance for GM

Canis, Bill

Webel, Baird

English

[Excerpt] This report analyzes the crisis leading to Old GM’s bankruptcy, the U.S. government’s assistance to, and role in, the new company, the progress that General Motors Company has made since it was created, and the recoupment of the U.S. government’s assistance for GM.CRS_The_Role_of_TARP.pdf: 400 downloads, before Oct. 1, 2020

eCommons@Cornell

The Role of TARP Assistance in the Restructuring of General Motors

DigitalCommons@ILR

[Excerpt] This report analyzes the crisis leading to Old GM’s bankruptcy, the U.S. government’s assistance to, and role in, the new company, the progress that General Motors Company has made since it was created, and the recoupment of the U.S. government’s assistance for GM.CRS_The_Role_of_TARP_0113.pdf: 611 downloads, before Oct. 1, 2020

U.S. Auto Industry Bailout: Restructuring of General Motor

Yale University

Yale University EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Documents Browse by Media Type 5-9-2013 U.S. Government Financial Support for General Motors through the Troubled Asset Relief Program Bill Canis Baird Webel Follow this and additional works at: https://elischolar.library.yale.edu/ypfs-documents Recommended Citation Canis, Bill and Webel, Baird, "U.S. Government Financial Support for General Motors through the Troubled Asset Relief Program" (2013). YPFS Documents. 1311. https://elischolar.library.yale.edu/ypfs-documents/1311 This Document is brought to you for free and open access by the Browse by Media Type at EliScholar – A Digital Platform for Scholarly Publishing at Yale. It has been accepted for inclusion in YPFS Documents by an authorized administrator of EliScholar – A Digital Platform for Scholarly Publishing at Yale. For more information, please contact elischolar@yale.edu. The Role of TARP Assistance in the Restructuring of General Motors  Congressional Research Service 15 Appendix.  U.S. Government Financial Support for GM through the Troubled Asset Relief Program Date Recipient/Source Amount  ($ in billions) December 2008 Old GM $13.4 April 2009 Old GM $2.0 May 2009 Old GM GM Warranty Program $4.0 $0.4 June 2009 Old GM/New GM $30.1 April 2009-April 2010 GM Supplier Receivables Program $0.3 Total Funds Loaned  $50.2 Recoupment of Principal November 2009 Partial repayment of Supplier Receivables loans $0.1 December 2009/January 2010 Partial debt repayment $1.0 February 2010 Partial repayment of Supplier Receivables loans $0.1 March 2010 Partial debt repayment  $1.0 April 2010 Final debt repayment Final repayment of Supplier Receivables loans $4.7 $0.1 July 2010 Repayment for Warranty Program $0.4 November 2010 Proceeds from sale of common equity $13.5 December 2010 Repurchase of preferred stock $2.1 March 2011-October 2012 Partial Repayment from bankruptcy proceeds $0.1 December 2012 Proceeds from sale of common equity $5.5 April 2103 Proceeds from sale of common equity $1.6 Total   $30.3 Income Received December 2008-April 2009 Interest on Old GM loans $0.1 April 2009-April 2010 Interest for GM Supplier Receivables $0.01 March 2010 Additional Note for GM Supplier Receivables  $0.1 October 2009-April 2010 Interest on New GM loans $0.3 September 2009-December 2010 Dividends on preferred stock $0.3 December 2010 Gain on preferred stock sale $0.04 Total  $0.8 Sources: U.S. Department of the Treasury, Daily TARP Update for 05/01/2013, TARP Transactions Reports, various dates, and TARP Dividends and Interest Report, various dates. Note: Figures may not sum due to rounding. In December 2008, the U.S. Treasury provided $884 million to assist GM in GMAC’s rights offerings, separate from the $13.4 billion loaned for GM’s operations. While this was provided to GM is not tallied here as it ultimately resulted in holdings of GMAC common equity. 

This report analyzes the crisis leading to Old GM's bankruptcy, the U.S. government's assistance to, and role in, the new company, the progress that General Motors Company has made since it was created, and the recoupment of the U.S. government's assistance for GM

UNT Digital Library

https://digitalcommons.ilr.cornell.edu/cgi/viewcontent.cgi?article=1996&amp;context=key_workplace

The Role of TARP Assistance in the Restructuring of General Motors

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