I will hold a press conference on Monday, December 16 at 11:00am to pose key questions to General Motors leadership, including whether and when the company will repay to taxpayers the $10 billion direct cost of the auto bailout.
News that the U.S. Treasury Department has sold its remaining financial stake and that Mary Barra will take over as GM’s new CEO have put the spotlight on the company and its future. GM executives have pointed to the company’s gigantic cash position as evidence of its improved finances. Analysts have raised the possibility that the company will buy back shares or institute a dividend.
NLPC has been a persistent critic of the auto bailout. NLPC Associate Fellow Mark Modica, a frequent guest on television and radio shows, blogs regularly on the bailout and related issues. NLPC published an October 2013 survey titled “Auto Bailout is Drag on GM Truck Sales,” which showed that disapproval of the auto bailout is hurting GM pickup truck sales.