NEW YORK — Former Obama administration auto industry czar Steven Rattner today agreed to pay $10 million to resolve two lawsuits by New York’s attorney general related to alleged kickbacks involving the state’s pension fund.

Rattner also agreed to be banned from appearing in any capacity before any public pension fund in New York for five years

“I am gratified that we have been able to reach an agreement in this case, as it resolves the last major action of our multi-year investigation,” Attorney General Andrew Cuomo said in an e-mailed statement today.

Rattner said in the same statement he was “pleased to have reached a settlement.”

“I apologize if during the course of this process there is anything I did that may have made reaching this agreement more difficult,” he said. Continue reading Rattner settles with New York attorney general, will pay $10 million

Global sales leader Toyota Motor Corp. is the only major automaker expected to report a drop in U.S. sales — of 11.4 percent — in December. Photo credit: Reuters Continue reading December’s U.S. sales may bode well for 2011

DETROIT — Looking to buy shares in a blue-chip automaker? A slew of upcoming product launches makes General Motors Co. stock a better buy than Ford.

That’s the conclusion of Credit Suisse analyst Christopher Ceraso, who was among several analysts to begin their coverage of GM shares on Tuesday with the equivalent of a “buy” rating. Continue reading GM stock value catching up with Ford, analysts write