General Motors will no longer be "Government Motors." The Treasury Department on Wednesday announced its intention to liquidate federal holdings in the automobile company over the next 15 months. The final tally will show this policy has been a disaster for taxpayers.
When it comes to making coins, the Mint isn't getting its two cents worth. In some cases, it doesn't even get half of that. A penny costs more than two cents and a nickel costs more than 11 cents to make and distribute. The quandary is how to make coins more cheaply without sparing our change's quality and durability, or altering its size and appearance.
General Motors moved Wednesday to shed its "Government Motors" nickname, buying back a chunk of its stock from the federal government as the Treasury Department announced plans to eliminate its losses in the company's stock by early 2014.
The Treasury plans to sell its remaining stake in General Motors over the next 15 months, allowing the automaker to shed the stigma of being partly owned by the U.S. government.
Democrats are trying to push a $60.4 billion emergency spending package for Superstorm Sandy victims through Congress by Christmas. Republicans are responding: Not so fast.
Syrian rebels including Islamic extremists took full control of a sprawling military base Tuesday after a bloody two-day battle that killed 35 soldiers, activists said. It was the latest gain by opposition forces bolstered by an al Qaeda-linked group that has provided skilled fighters but raised concerns in the West.
Democratic and Republican politicians alike hailed the news in 2009 that U.S. battery maker A123 Systems had won a quarter-billion-dollar federal grant, but just three years later, the company finds itself bankrupt and the target of a buyout by a Chinese competitor.
Mitt Romney's shadow looms over a Republican Party in disarray. The face of the GOP for much of the last year, the failed presidential candidate has been a virtual ghost since his defeat Nov. 6.
On an issue that dogged President Obama during his re-election campaign, the Treasury Department said Tuesday that China's currency remains undervalued, but the administration stopped short of branding the country a currency manipulator.