government loans

Chrysler said that it had a operating profit and that the overall loss was mostly due to interest payments on government loans.

General Motors Co.'s CEO said Tuesday that the automaker has repaid the $8.1 billion in loans it received from the U.S. and Canadian governments, a sign that a plan to rebuild the company is working.

General Motors Co. says it lost $4.3 billion in the last half of 2009 as it struggled to emerge from bankruptcy protection, repay government loans and cope with a severe downturn in U.S. sales.

CHARLOTTE, N.C. -- AIG said Friday it lost $8.87 billion in the fourth quarter as its general insurance business remained weak and the company ran up expenses from paying back government loans.

General Motors said better results will allow it to start repaying government loans sooner than expected, although the company continued to lose money in its first quarter since emerging from bankruptcy.

General Motors Co. will begin paying back $6.7 billion in U.S. government loans by the end of 2009 and could pay off that full amount by 2011, four years ahead of schedule, according to a person familiar with the matter.

The chairman of General Motors says the automaker is committed to repaying its billions in government loans, though it's too soon to say when that will happen.

Electric car maker Tesla Motors says it will open a new power train production facility in Palo Alto, Calif., helped in part by a recent award of government loans.

Workers are voting on another cost-cutting deal that the Canadian Auto Workers union has reached with General Motors Canada in the automaker's bid to qualify for more government loans and stave off liquidation.

After creating a plan to radically alter American International Group Inc.'s operations to help repay billions in government loans, chairman and chief executive Edward Liddy is leaving his vision for the insurer in the hands of a whole new set of managers.