government loans

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Tesla Pays Off US Loan 9 Years Early

CEO to taxpayers: 'I hope we did you proud'

(Newser) - Tesla has come a long way since Mitt Romney labeled it a "loser" in the presidential debates. The company has paid off its $465 million 2010 loan from the Department of Energy—plus interest—nine years before it was due, Businessweek reports. With yesterday's payment for $451.8... More »

Fed Handed Wall Street $1.2T in Loans

Bloomberg reveals peak amount for the first time

(Newser) - In 2006, their best year ever, the 10 biggest US banks and brokerage firms made $104 billion in profits. By 2008, they had taken more than six times that amount—$669 billion—in emergency Federal Reserve loans. That amount, as well as amount loaned by the Fed to all its... More »

GM to Cut 21K US Factory Jobs

Firm restructuring in bid for more government aid

(Newser) - General Motors will cut 21,000 US factory jobs by next year, phase out its Pontiac brand, and ask the government to take company stock in exchange for half of GM's government debt as part of a major restructuring effort needed to get more government aid, the firm said today.... More »

'Glimmers' of Economic Hope, But Work's Not Done: Obama

(Newser) - After a meeting today with the administration's top economic officials, President Obama said he’s starting to see “glimmers of hope,” Bloomberg reports. The president noted that government loans to small business are up but cautioned, “We’ve still got a lot of work to do.”... More »

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