Category Archives: Stimulus

GM takes another step to repay bailout

By doris | Published: October 29, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — General Motors is taking a big step toward repaying taxpayers for last year’s $50 billion bailout, announcing it will repurchase $2.1 billion in preferred stock held by the Treasury Department. The automaker has already repaid about $6.7 billion in loans. The plan to repurchase the preferred stock [...]

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A stimulus program even a Republican can love

By doris | Published: July 10, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — There’s at least one stimulus program that’s creating jobs and winning praise from both sides of the political aisle. A little-known Recovery Act initiative is expected to put more than 200,000 unemployed people back to work in 32 states and the District of Columbia. It’s called the [...]

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Program to pay homeowners to sell at a loss

By doris | Published: March 8, 2010

Full Story at msnbc.com NEW YORK – In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave. This latest program, which will allow owners to sell for less than they owe [...]

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Lost money? Score a whopping tax refund

By doris | Published: February 17, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Sick of sending big checks to the IRS? For some business owners, this tax season will bring a rare reversal: A stimulus-fueled tax change is putting cash back into the pockets of qualifying entrepreneurs. Bill Hewitt, who owns several real estate ventures in Denver, recently collected a [...]

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Bailout cop: TARP’s not working

By doris | Published: February 3, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — The watchdog charged with monitoring the government’s $700 billion bailout unleashed one of his harshest criticisms of the program to date, questioning its overall effectiveness. In his latest quarterly report to Congress, special inspector general Neil Barofsky said that the Troubled Asset Relief Program, or TARP, has [...]

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GMAC receives 3rd round of bailout funds

By doris | Published: January 1, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — GMAC Financial Services will receive a third round of bailout funds from the U.S. Treasury Department and the government will have a controlling stake in the company, according to a government report Wednesday. The troubled auto and mortgage lender will collect $3.8 billion of additional aid on [...]

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Small firms may get $30 billion in bailout aid

By doris | Published: December 20, 2009

Full Story at msnbc.com WASHINGTON – The Obama administration is setting aside $30 billion from the financial bailout fund for a program designed to encourage lending to small businesses to aid the economic recovery. An internal document obtained by The Associated Press spell out how the Treasury Department plans to spend money from the fund [...]

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More questions over stimulus jobs

By doris | Published: November 20, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — So just how many jobs has the $787 billion stimulus package created or saved? A new government report raises a new round of questions on the Obama administration’s figure of 640,000 jobs, saying there are many concerns surrounding the data recipients reported. “There is a range of [...]

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New problem for automakers: Not enough cars

By doris | Published: August 13, 2009

Full Story at msnbc.com NEW YORK – After a lot of heartbreak, the nation’s automakers aren’t looking to commit. They’re taking small, tentative steps to raise production to meet the revived demand for new cars and trucks sparked by Cash for Clunkers. Carmakers are offering overtime or Saturday shifts at slack plants, but aren’t willing [...]

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Jobs recovery: Wait till next year

By doris | Published: August 6, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — The days of cataclysmic layoffs may be waning, but companies are still cutting every position they can spare. Employment at America’s small businesses, those with less than 50 employees, dropped by another 138,000 workers in July, according to estimates released Wednesday by payroll processor ADP (ADP, Fortune [...]

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No end in sight for AIG payback saga

By doris | Published: July 16, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — AIG suffered another setback in its effort to pay back the government this week, again calling into question whether the troubled insurer will ever be able to make good on the billions of dollars it owes U.S. taxpayers. A large part of the company’s plan to pay [...]

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How AT&T gets stimulus funds

By doris | Published: July 15, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Big businesses are battling to take home chunks of the government’s billion-dollar stimulus pie and AT&T is among the leaders on the telecom front. While the telecom giant can’t go after stimulus funds directly, its clients include many government agencies that are on the receiving end of [...]

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U.S. to lend $8 billion to Ford, Nissan, Tesla

By doris | Published: June 24, 2009

Full Story At msnbc.com DEARBORN, Mich. – Cultivating the next generation of fuel-efficient vehicles, the Obama administration said Tuesday it would lend $5.9 billion to Ford Motor Co. and about $2.1 billion to Nissan Motor Co. and Tesla Motors Inc. in a government-industry partnership to build green cars. Energy Secretary Steven Chu said the three [...]

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$1.2 billion for summer jobs

By doris | Published: May 28, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — With teen summer employment expected to hit its lowest level since 1948, the federal government is pumping $1.2 billion in stimulus money into job training programs for youth. The funds are aimed at providing disadvantaged 14-to-24-year-old youth with job training skills and schooling to better prepare them [...]

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