Skip to comments.Government Sells $490 Million of GM Stock
Posted on 03/20/2013 12:53:02 PM PDT by Red Badger
The U.S. government has sold another chunk of its stake in General Motors Co., the Associated Press reported.
The Treasury Department said in its February report to Congress that it sold $489.9 million worth of GM common stock last month.
The report said the government has recovered about $29.8 billion of its $49.5 billion bailout of the Detroit automaker. That means the government has yet to recover $19.7 billion of its investment in the automaker, AP said. That means it still owns about 277 million shares. Those would have to sell for around $71 each for the government to break even.
Treasury said the price per share will be revealed later.
GM stock sold in a range of $26.19 to $29.36 in February. At the midpoint of the range, the government would have sold roughly 17.6 million shares, AP said.
Ok. They wanted to buy some stock as part of a bailout...fine...we lost that one...now that it was done and they are selling.....my only question is, Are they going to put the sold stock proceedings toward the debt where the money originally came from? That is VERY important to me. I pray that they put every penny towards our debt.
This should work out great -- as soon as GM shares more than double in value.
Everytime you talk to a lib about this they swear up and down the US govt made a return.
Sooo, why during the election, did the left say that ALL the money was repaid? (yeah, I know)
..so China can now buy up another chunk of GM while the stock price is a bargain?
How much did we lose on this deal?
It looks like they didn’t factor in the thousands of volts (and other cars/trucks) the government bought a year or so ago into the capital outlay given to GM....
Amazing how the facts show that GM was a disastrous loser.
You are really dreaming if you think that a huge pile of money will sit around DC very long and be applied to some esoteric like ‘debt reduction’ when there are votes to be bought, union thugs to be paid off and palms to be greased...........
So far, more than 50%.......Obozo is as good at picking stock winners as he is a basketball winners.........
They did. A negative one..........
I don’t think China is THAT stupid...........
The Low Information Voter believes GM has repaid its bailout in full & Obama saved the US auto industry.
What might contribute to this information is a commercial I saw (only once before it was pulled). Some high ranking official proudly statedthat GM had paid back the government, IN FULL!
Some people believe anything on tv.
GM is making big bucks over seas. I expect them to just crash here. They don’t need USA soil.
We lost every penny even if they did get a positive return. Cause you know the gov’t isn’t giving a dividend to the tax payer.