No More “Government Motors”, Last of GM Stock Sold for a Net Loss of 10 Billion

Government Motors Cartoon Libertarian_be

U.S. Treasury sells last share of GM stock, ends ‘Government Motors’ stigma

Mike Colias

The Treasury today sold its last shares of General Motors stock, ending more than four years of government ownership in the nation’s largest automaker at a loss of about $10.5 billion to U.S. taxpayers. The government said in a statement that it recouped $39 billion of its original $49.5 billion investment into GM.

“We will always be grateful for the second chance extended to us and we are doing our best to make the most of it,” GM CEO Dan Akerson said in a statement.

“Continued investments, innovation, and job creation are just some of the ‘returns’ of a healthy GM and domestic auto industry.  Our work continues uninterrupted, and we will keep our sights squarely on our customers and transforming the way we do business.”

Story Continues Here at Automotive News

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2 comments
  1. Not one peep about your Tax exempt status? Never again will buy a Government Motors vehicle. Done with these commies. You should have gone belly up.

    • I agree completely …what Obama did to the creditors of GM was criminal …they should have gone BK …cracked those unions wide open and renegotiated all of their deals then spun off a few things restructured their debt and emerged lean and mean

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