Fox Lake Towing and Recovery

Less than two years after they exited bankruptcy, Chrysler Group and General Motors will soon distribute bonuses to salaried employees in recognition of their efforts to help revive the once-flagging Detroit automakers. The payout is likely to anger the companies’ unionized workers.

Continue reading GM and Chrysler Will Pay Bonuses to White-Collar Workers

GM and Chrysler Will Pay Bonuses to White-Collar Workers originally appeared on DailyFinance on Fri, 11 Feb 2011 09:06:00.

Filed Under: Company News, Economy, General Motors, Autos, Careers, Chrysler

Union employees at Chrysler Group will receive a $750 bonus next week as an acknowledgment of their contributions in helping to revive the once-bankrupt company, the automaker said Monday. Salaried workers, excluding the company’s top 50 executives, will also receive the payment.

Continue reading Though Chrysler Is Still Unprofitable, Employees Earn a $750 Bonus

Though Chrysler Is Still Unprofitable, Employees Earn a $750 Bonus originally appeared on DailyFinance on Mon, 31 Jan 2011 15:40:00.

Filed Under: Company News, Economy, Earnings, Chrysler

Citigroup on Wednesday announced the promotion of John Havens, the head of its Institutional Clients Group, to president and chief operating officer. The move is designed to make the financial behemoth nimbler by cutting the number of executives who report directly to CEO Vikram Pandit.

Continue reading Citigroup Promotes John Havens to President and COO

Citigroup Promotes John Havens to President and COO originally appeared on DailyFinance on Wed, 19 Jan 2011 09:25:00.

Filed Under: Company News, Citigroup

The number of government-aided U.S. banks in danger of failing has grown about 15% in the past six months, The Wall Street Journal has reported. The economy has continued to batter many struggling institutions, with 98 bailed-out banks — up from 86 in the second quarter — now at risk.

Continue reading Bailed-Out Banks Remain in Danger of Failing: 98 Banks at Risk

Bailed-Out Banks Remain in Danger of Failing: 98 Banks at Risk originally appeared on DailyFinance on Mon, 27 Dec 2010 19:30:00.

Filed Under: Economy, Taxes, Credit

General Motors has repurchased $2.1 billion in preferred stock from the federal government, further reducing the amount the automaker owes taxpayers following last year’s bailout. The latest transaction cuts the government’s stake in the rebounding carmaker to 33% from 61.5%.

Continue reading Treasury Nets $2.1 Billion in GM’s Buyback of Preferred Shares

Treasury Nets $2.1 Billion in GM’s Buyback of Preferred Shares originally appeared on DailyFinance on Wed, 15 Dec 2010 17:30:00.

Filed Under: Company News, Investing, General Motors, Autos