WASHINGTON — Government investigators say the U.S. government is unlikely to recover all of its investment in General Motors or Chrysler because the companies’ value would need to “grow substantially above what they have been in the past.”
A Government Accountability Office report released Monday is the latest review to cast doubt on the likelihood that taxpayers will fully recoup more than $80 billion invested in the two U.S. automakers.
Treasury officials told the GAO that they are considering initial public offerings or private sales to dispose of the government’s nearly 10 percent stake in Chrysler and 61 percent share of GM. But government officials won’t say when that could happen because they don’t want to undermine the potential return on the investment.
Local News
NEW: Full recoup of gov't auto loans unlikely: GAO
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Delphi retirees continue fight for pensions
A group of then-Delphi Corp. retirees saw a long road ahead of them when they banded in 2009 to keep hold of their full pensions and benefits.
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Eastern moves ahead on wind turbine
A packed room of remonstrators Tuesday held little sway over the Eastern Howard Schools board, which voted unanimously to move ahead on a $2.75 million wind turbine project.
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Board: discipline for accused doctor not strict enough
The Medical Licensing Board of Indiana has rejected a proposed resolution to a Russiaville doctor’s disciplinary case, directing the Indiana Attorney General’s Office to propose a more stringent set of requirements.
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City to end agreement with Novia
City officials said Tuesday they’re planning to switch providers at the city’s employee health-care clinic this spring, ending a year-old relationship with Novia Health Care.
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Eastern celebrates graduation rate improvement
The latest graduation rates prove all Howard County schools are offering a quality education, a local superintendent said.
That’s how Tracy Caddell, superintendent of the Eastern Howard School Corp., summed up the figures released Tuesday by the Indiana Department of Education.
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Jail full of females
In late January, cell mates Monica Clark Davis and Christy Miller were awaiting disposition of their respective cases in the Howard County jail.
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Eastern set for wind turbine meeting
GREENTOWN — Eastern Howard Schools superintendent Tracy Caddell said Monday the school board is considering alternate sites for a proposed wind turbine project, which would build a 287-foot-tall windmill to produce energy for the schools.
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Chamber cancels cook-off
After an 11-year run, the annual chili cook-off in Kokomo has been canceled for this year.
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Miami County GOP fails to appoint new trustee
PERU – Miami County commissioners will be forced to appoint a Perry Township trustee after the GOP’s county chairman exceeded the deadline to replace the vacated seat.
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Students petition to keep daycare at IUK
A group of Indiana University Kokomo students is petitioning the university to reconsider shutting down an on-campus childcare center.
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