General Motors Co., which emerged from bankruptcy after receiving $50 billion in federal aid, is restoring salaried and executive pay cuts for workers in the U.S., Canada and some foreign countries.
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Auto lending giant GMAC took steps Wednesday to shore up struggling auto dealers and moved to boost auto sales by reducing financing charges and extending loans to subprime buyers with lower credit scores.

GMAC said it is earmarking $5 billion in the next two months as part of its effort to lure more consumers into the crippled car market. It also will take immediate steps to help auto dealers.
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Steve Rattner, the managing partner of a $6 billion New York hedge fund, will lead the Treasury Department’s auto efforts, an official said Monday.

Rattner will join the Treasury Department as counselor to Treasury Secretary Timothy Geithner, “where he will serve as an adviser on a variety of economic and financial matters, and will lead the Treasury’s efforts with regard to the automobile sector,” an administration official said today.
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