02-02-2013, 08:35 PM
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CC Member
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Join Date: Sep 2012
Location: Portland,
OR
Cobra Make, Engine: ERA - B2Motorsports Dart 331
Posts: 464
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8/15/2012 @ 6:24PM
Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.
Save General Motors From Bankruptcy, Vote For Mitt Romney Louis Woodhill Louis Woodhill Contributor
Leadership, Not Another Bailout, Will Fix GM (And No, It Is Not Going Bankrupt) Joann Muller Joann Muller Forbes Staff
For GM, Bankruptcy Talk Is Its Own Fault Micheline Maynard Micheline Maynard Contributor
Chicken Little's Second GM Bankruptcy: The Gold Medal For Silly Op-Ed Pieces Bob Lutz Bob Lutz Contributor
Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.
General Motors Is Headed For Bankruptcy -- Again - Forbes
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Fridays close $28.18 - they should be out of business along with GE and Chrysler (add => BOA, Chase, Citi). Every time an Ally Bank commercial comes on the business channel I want to puke. With Govco as an owne,r most assuredly price manipulation is in play.
That U.S. tax payers so willingly support either Bama or GM in this theft is astonishing. My god we bought 60% of the company so GM could continue to port it's manufacturing to China. I would not drive one of their piles of **** if it were given to me.
From 2009
We Will Own 60 Percent of New GM as Treasury Kicks in Another $301 Billion - Motor Trend Blog
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