Treasury IG responds to request for ACORN probe by examining oversight of tax-exempt groupsSeptember 24th, 2009 Oversight of tax-exempt groups like ACORN examinedWASHINGTON — The Treasury Department's inspector general is looking into the government's oversight of tax-exempt organizations like ACORN when they engage in political activities. The office of Rep.
Treasury, backing down, concedes bailout watchdog's independenceSeptember 3rd, 2009 Treasury concedes independence of bailout watchdogWASHINGTON — The Treasury Department has decided not to challenge the independence of the government watchdog agency that Congress created to oversee spending of the $700 billion rescue package for the financial sector. The confrontation between Treasury and the Special Inspector General for the Troubled Asset Relief Program, SIGTARP, had prompted congressional complaints that the Obama administration was seeking to restrain the work of inspector general Neil Barofsky.
Inspector general: Treasury has not adopted accountability measures for bailout programJuly 20th, 2009 Watchdog: Treasury bailout disclosure falls shortWASHINGTON — The government's main watchdog over the federal financial bailout says the Treasury Department has repeatedly failed to adopt recommendations aimed at making the $700 billion program more accountable and transparent. Neil Barofsky (buh-RAHF'-skee), the inspector general for the Troubled Asset Relief Program, says in a report to Congress that Treasury's inaction means taxpayers have not been told what the financial institutions that have received assistance are doing with the money.
GM, Chrysler press lawmakers to back off House legislation to restore closed dealershipsJuly 9th, 2009 GM, Chrysler fight reopening of closed dealershipsWASHINGTON — General Motors and Chrysler urged lawmakers Thursday to block legislation that would prevent them from consolidating their dealership networks, warning it would complicate their emergence from government-led bankruptcies. With GM poised to exit bankruptcy protection, company leaders pressed House members to overturn an amendment approved late Tuesday by a House committee that would force General Motors Corp.
Former Chrysler dealer to take fight for franchises to US District CourtJune 22nd, 2009 Chrysler dealer appeals franchise terminationsNEW YORK — A pair of former Chrysler LLC dealerships are appealing a bankruptcy judge's order terminating their franchises and those of more than 700 others. Tarbox Motors and Tarbox Chrysler Jeep filed a notice of appeal on Friday, saying that they were appealing the decision to U.S.
State-by-state list of GM dealerships expected to close in late 2010June 12th, 2009 Outgoing GM dealerships by stateState-by-state list of General Motors Corp.'s dealerships whose franchise agreements are not expected to be renewed by GM by the fall of 2010. List released by the House Energy and Commerce Committee's subcommittee on oversight and investigations.
Senate panel to question Obama's auto task force of handling of GM, ChryslerJune 10th, 2009 Senate to review work of Obama's auto task forceWASHINGTON — Members of President Barack Obama's auto task force face questions in the Senate Wednesday about billions of dollars in government aid to rescue General Motors and Chrysler and whether taxpayers would eventually receive a return on the money. The Senate Banking Committee was hearing from Ron Bloom, a senior adviser to the auto task force, and Edward Montgomery, who serves as Obama's director of recovery for auto communities and workers.
Senate committee to review Obama auto task's restructuring of GM, ChryslerJune 8th, 2009 Senate panel to question Obama auto task forceWASHINGTON — A Senate committee plans to question two members of the White House's auto task force about using taxpayer money to restructure General Motors and Chrysler. The Senate Banking Committee will hear from Ron Bloom, a senior adviser to the auto task force, and Edward Montgomery, who serves as the Obama administration's director of recovery for auto communities and workers.
Lawmakers raise questions about dealership losses, government aid in GM, Chrysler bankruptciesJune 4th, 2009 Government-led carmaker bankruptcies face skepticsWASHINGTON — Government-led bankruptcies of General Motors and Chrysler are drawing opposition in Congress, where bailout-weary lawmakers want explanations for the billions in more federal aid and the planned shuttering of hundreds of car dealerships. A group of Republicans wants to give Congress veto power over the expenditure of any bailout money by the government to buy a stake in a company.
Lawmakers examine GM, Chrysler plans to shed hundreds of dealershipsJune 3rd, 2009 Senate reviews closing of GM, Chrysler dealershipsWASHINGTON — Top executives from General Motors and Chrysler face tough questions from lawmakers about sweeping plans to close hundreds of car dealerships as the auto companies undergo government-led bankruptcies. The executives will appear before a Senate committee Wednesday to talk about their dealership plans.
Chrysler to ask bankruptcy judge to terminate dealer franchises; Ind. funds get appeal hearingJune 3rd, 2009 Judge to rule on termination of franchisesNEW YORK — A bankruptcy judge is getting ready to decide whether Chrysler can terminate the franchise agreements of 789 of its dealers. U.S. Judge Arthur Gonzalez is expected to hear testimony Wednesday from Chrysler executives and dealers.
Senate committee to hear from GM, Chrysler executives on dealer closingsJune 1st, 2009 GM, Chrysler executives to face Congress WednesdayWASHINGTON — Top executives from General Motors and Chrysler will appear before a Senate committee Wednesday to address concerns about hundreds of dealership closings as the two automakers work through government-led bankruptcies. GM CEO Fritz Henderson and Chrysler President Jim Press will appear before the Senate Commerce Committee chaired by Democratic Sen.
Chrysler files motion in bankruptcy court to eliminate 789 of its 3,200 dealershipsMay 14th, 2009 Chrysler moves to eliminate 789 of 3,200 dealersNEW YORK — Chrysler LLC has told a bankruptcy court it plans to eliminate 789 of its dealers — or about 25 percent of them — across the country as part of its restructuring process. The automaker has about 3,200 dealers but says that's too many.
Gov't watchdogs say some audits delayed, shelved over examining failed financial institutionsMay 5th, 2009 Watchdogs: Failed-bank reviews stop some auditsWASHINGTON — U.S. efforts to trace terrorist financing and money laundering are receiving less scrutiny by government watchdog offices because of the unprecedented need to monitor failed financial institutions, the Treasury Department's inspector general said Tuesday.
GM, Chrysler ask for $21.6 bn more, plan to cut 50,000 jobsFebruary 17th, 2009 WASHINGTON - US auto giants General Motors and Chrysler LLC have told the government they could need an additional $21.6 billion in federal loans between them because of worsening demands for cars and trucks. Presenting their updated turnaround plans by the government set Tuesday deadline, the two firms also detailed plans to cut 50,000 jobs worldwide by the end of the year.
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