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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Entire U.S. 31 corridor now under contract
Every segment of the 13.1-mile, U.S. 31 Kokomo Corridor is now officially under construction.
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Northwestern to graduate 130 seniors
Peyton Hite ended her last day in high school by going home and washing sheep.
“It’s part of living on a farm,” she said, with a laugh.
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Drugs, cash seized, four arrested
Police from four agencies seized heroin, pills, syringes and cash, and arrested four people this week after a raid on a house on East Street, according to police reports.
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Lafayette job fair expects Kokomo hopefuls
Organizers of a Lafayette job fair next week are reaching out to Kokomo residents looking for work.
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Deputy prosecutor facing two charges
A Howard County deputy prosecutor will face two drunken-driving charges in connection with a traffic stop in Cicero.
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Governor honors student
A Northwestern High School senior achieved a milestone Thursday when he became the first Indiana student ever to win both of the state’s top science awards.
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Taylor considering staff reductions
A decline in enrollment has forced Taylor School Corp. to consider staff reductions, but the board won’t vote on the issue until next week, officials said Thursday.
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Schools among top 20 in Indiana
Three area schools were ranked among the top 20 in Indiana this year by U.S. News and World Report.
Tri-Central Middle/High School, Eastern Junior-Senior High School and Tipton High School all made the list, which was an evaluation of 379 high schools across the state.
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Library starts iPad rental program
Apple can’t make enough iPads to satisfy demand, but the Kokomo-Howard County Public Library now owns 15 iPad2 units.
Thursday, social media-conscious library patrons scrambled to borrow the tablet computers, on the first official day of the library’s iPad lending program.
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Gov. names NW student 'Mr. Science' for 2012
Tyler Barnes becomes first Indiana student to be named Indiana's Top Young Scientist and Mr. Science.
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