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Government Sells $490 Million of GM Stock
www.ttnews.com ^ | 3/18/2013 11:00:00 AM | Staff

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.


TOPICS: Business/Economy; Culture/Society; Government; US: Michigan
KEYWORDS: automakers; generalmotors; gm; governmentmotors
Didn't hear about this on the ABCNNBCBSAP media.......
1 posted on 03/20/2013 12:53:02 PM PDT by Red Badger
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To: Red Badger

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.


2 posted on 03/20/2013 12:57:05 PM PDT by napscoordinator
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To: Red Badger
That means it still owns about 277 million shares.
Those would have to sell for around $71 each for the government to break even.
GM stock sold in a range of $26.19 to $29.36 in February.

This should work out great -- as soon as GM shares more than double in value.

3 posted on 03/20/2013 12:57:25 PM PDT by ClearCase_guy (The ballot box is a sham. Nothing will change until after the war.)
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To: Red Badger

Everytime you talk to a lib about this they swear up and down the US govt made a return.


4 posted on 03/20/2013 12:57:39 PM PDT by CommieCutter
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To: Red Badger
The report said the government has recovered about $29.8 billion of its $49.5 billion bailout of the Detroit automaker

Sooo, why during the election, did the left say that ALL the money was repaid? (yeah, I know)

5 posted on 03/20/2013 12:57:49 PM PDT by Puppage (You may disagree with what I have to say, but I shall defend to your death my right to say it)
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To: Red Badger

..so China can now buy up another chunk of GM while the stock price is a bargain?


6 posted on 03/20/2013 12:58:18 PM PDT by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: CommieCutter

How much did we lose on this deal?


7 posted on 03/20/2013 12:59:20 PM PDT by phormer phrog phlyer
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To: Red Badger

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....


8 posted on 03/20/2013 12:59:56 PM PDT by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: ClearCase_guy

Amazing how the facts show that GM was a disastrous loser.


9 posted on 03/20/2013 1:00:18 PM PDT by JCBreckenridge (Texas is a state of mind - Steinbeck)
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To: napscoordinator

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...........


10 posted on 03/20/2013 1:01:02 PM PDT by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: phormer phrog phlyer

So far, more than 50%.......Obozo is as good at picking stock winners as he is a basketball winners.........


11 posted on 03/20/2013 1:02:31 PM PDT by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: CommieCutter

They did. A negative one..........


12 posted on 03/20/2013 1:02:57 PM PDT by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: Secret Agent Man

I don’t think China is THAT stupid...........


13 posted on 03/20/2013 1:04:11 PM PDT by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: CommieCutter
Everytime you talk to a lib about this they swear up and down the US govt made a return.

The Low Information Voter believes GM has repaid its bailout in full & Obama saved the US auto industry.

14 posted on 03/20/2013 1:30:11 PM PDT by TexasCajun
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To: TexasCajun

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.


15 posted on 03/20/2013 1:33:49 PM PDT by lacrew (Mr. Soetoro, we regret to inform you that your race card is over the credit limit.)
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To: ClearCase_guy

GM is making big bucks over seas. I expect them to just crash here. They don’t need USA soil.


16 posted on 03/20/2013 1:43:00 PM PDT by Sacajaweau
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To: Red Badger

http://www.bloomberg.com/news/2010-07-02/general-motors-first-half-china-sales-rise-48-5-pass-u-s-for-first-time.html


17 posted on 03/20/2013 1:45:14 PM PDT by Sacajaweau
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To: phormer phrog phlyer

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.


18 posted on 03/21/2013 12:41:45 PM PDT by CommieCutter
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