Skip to comments.Govít sells more GM shares, cuts stake to 7 pct.
Posted on 09/26/2013 10:49:47 AM PDT by Olog-hai
The U.S. government is starting another phase of selling off its General Motors stock after cutting its stake in the automaker to just over 7 percent.
The Treasury Department says it still owns 101.3 million GM shares. It got 912 million shares, a 60.8 percent stake in the company, in exchange for a $49.5 billion bailout of GM in 2009. So far taxpayers have recovered about $36 billion. That means theyre still around $13.5 billion in the hole.
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