U.S. plans to sell GM stake within 15 months

[vy65]

http://www.chicagotribune.com/business/breaking/chi-gm-to-buy-back-500m-in-shares-as-us-plans-to-sell-its-stake-20121219,0,5307001.story

[boutons_deux]

"Let them go bankrupt and let private equity buy them" -- Bishop Gecko looks even more stupid.

[symple19]

The deal almost certainly means that the government will lose billions on a $49.5 billion bailout that saved GM from being auctioned off in pieces during the financial crisis in 2008 and 2009. GM's buyback will cut the Treasury's stake to 19 percent from 26.5 percent. For it to break even, Treasury would have to sell the remaining 300 million shares for average of about $70.

:lmao

Government doing what Government does best

[boutons_deux]

And Chrysler owner private equity Cerberus was an excellent automobile mgmt team.

[Spurminator]

:lmao

Government doing what Government does best


It wasn't an investment.

[Borat Sagyidev]

It wasn't an investment.

Sure it was. It´s not a simple stock price that was the goal though.

[lazerelmo]

requirements on manufacturing a certain percentage of GM cars and trucks in the U.S. will be lifted. GM says it already has exceeded the manufacturing requirements and will continue to do so for the foreseeable future.


More good news.