The "Government Motors" crowd isn't going to be happy about this: The Detroit News is reporting that the U.S. Treasury now says it has lost an extra $170 million in the auto industry bailout. The culprit? The declining price of General Motors stock.

According to the report, GM's stock crested at $37.23, but is down 35 percent from that level today. The Treasury Department based its calculations on a $21.29 value from November 30, 2011. The government's share of GM was initially 61 percent, but has been reduced to 26.5 percent. The News says that the lower stock price has kept the government from selling its remaining 500 million shares.

While political opponents of the Obama administration will no doubt jump all over this report, the final cost of the bailout is still looking like it will be far less than originally thought. According to the report, the $44 billion estimate was reduced to $30 billion in December 2009, and this most recent estimate puts the total sum at $23.77 billion.

Matthew Anderson, a Treasury spokesman, was quoted as saying: "The auto industry rescue helped save one million jobs and is still projected to cost dramatically less than many had expected during the crisis."


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  • 228 Comments
      Carphanatik
      • 2 Years Ago
      Two political posts in two days? I love you autoblog, but damn if you don't post these just to start commenting wars.
      SooooRight
      • 2 Years Ago
      The bailout saved the unions, that's it. Period. End of story. There is no reason the majority of the employess couldn't have been brought back after a bankruptcy reorganization. Pure BS that this saved millions of jobs. IT SAVED THE UNIONS. That's it. Don't buy Union made. It's garbage.
        spy4
        • 2 Years Ago
        @SooooRight
        you are SooooRight. And everyone knows it. Including the Union thugs.
        harleydavid105
        • 2 Years Ago
        @SooooRight
        I'll bet your home was union made. And the roads and bridges etc. in this country. If you don't like union made you could always move to Japan or Korea. PS I am not nor have I ever been in a union. However the unions helped create the middle-class in the USA, And as the unions shrink you'll notice the middle-class is shrinking too.
      Brex
      • 2 Years Ago
      GM is up nearly 20% YTD. It'll come back, don't you worry.
      mikeemo1
      • 2 Years Ago
      hey america lets buy more jap and chinese products and lets see how far and fast america goes down the drain
        duvhoc
        • 2 Years Ago
        @mikeemo1
        Hey America, lets build cars as well and inexpensively as the Japanese and see how fast America regains it's economic prowess.
          harleydavid105
          • 2 Years Ago
          @duvhoc
          Built inexpensively because the foreign brands pay paltry wages. The standard of living in the USA is higher and so is the cost of living. The lower wages being paid in this country are bringing the USA down to Third World status. And maintenance on foreign cars generally costs more than the domestics. I know because I am a mechanic with 40 years experience.
          Mark Lathom
          • 2 Years Ago
          @duvhoc
          Bravo sir, I've been saying this for years. Why does America get a free pas on making "Tissue Cars"? (Cuz you use them and throw them away) Things USED to be built to last in this country and it made us the greatest nation in the world.
        joper201
        • 2 Years Ago
        @mikeemo1
        Most socalled jap cars are built in America, serviced in America, sold through American dealershops, create million upon millions of AMERICAN jobs and did not need to be bailed out. Be honest, your pi$$ed because they are built with out the help of the UAW.
          harleydavid105
          • 2 Years Ago
          @joper201
          And they pay half as much. You can't buy a home and a new car and raise a family on those wages.
          • 2 Years Ago
          @joper201
          [blocked]
      rm42749
      • 2 Years Ago
      Take it out of obamas bank account. He is the fool who gave it away. How much did we give to Chrystler that we won't ever get back?
      Emilio
      • 2 Years Ago
      The Auto Bailouts worked. Others that say otherwise, are just Obama haters. Just imagine no bailout. 12% unemployment AT LEAST!!!! And just imagine what them haters would saying now... 'Obama killed the auto industry' and so on and so forth. America is recovering people. And quit acting like it should have happened over night.
        • 2 Years Ago
        @Emilio
        [blocked]
          Emilio
          • 2 Years Ago
          Actually, it's really killing you that it worked.
          robertmb56
          • 2 Years Ago
          It hasn't worked yet Emilio. See how long the unions stay happy and start the same old game they and management play. They'll both forget the bailout and the voters will too. Not Chrysler's first either.
        robertmb56
        • 2 Years Ago
        @Emilio
        Re:comment below. I think the economy would recover anyway. Had GM restructured and started over they might make a better priced vehicle. Obama didn't kill it, they commited suicide and will do so again. I find it a little strange that the liberal side is always, and I mean always accusing conservatives of hating. Or h8ing. Such a fascination with the word. I think the word and idea are inherent in the liberal mind.
        angalmarketing2
        • 2 Years Ago
        @Emilio
        Actually; our economic history shows that recovering from a recession takes around 15-18 months but with O's failed policies it has been over 3 years and it is nowhere near being called a "recovery". Nice try though.
          Emilio
          • 2 Years Ago
          @angalmarketing2
          You people are really brain washed. 15-18 months? Wow. When in history has our own people shipped so many jobs over seas? Never!!! This is not the same as the recessions before.
          harleydavid105
          • 2 Years Ago
          @angalmarketing2
          Emilio is correct. And until the jobs shipped overseas come back this country will not recover.
        IOMTT
        • 2 Years Ago
        @Emilio
        Depends on your definition of "worked".
      Bodav
      • 2 Years Ago
      GM SUCKS !!!!!!!! , There crappy engineering ''RUNS DEEP'' They try to use there 50s-60s muscle car reputation for current sales, PATHETIC ! They have not made anything worth buying in over 50 years . Our goverment should just let them die, put this loser corp. out of there misery ." weeks ago GM says they are on top in sales then a week later Snap on Tools says there expanding , coinsedence , I think not ! ,When Japan recovers from the tsunami damage they will put GM back in there desperate hole where they belong . To the CEO of GM, STOP EMBARESSING OUR COUNTRY WITH YOUR CRAP !
        harleydavid105
        • 2 Years Ago
        @Bodav
        Try supporting your country instead of bashing it.
        BOB
        • 2 Years Ago
        @Bodav
        You embarress the USA. You are one step from traitor. Go back to China or Japan. Maybe drive one of those TOYLETAS that won't stop till it hits somthing.
          • 2 Years Ago
          @BOB
          [blocked]
      • 2 Years Ago
      [blocked]
      mckdarren
      • 2 Years Ago
      The headline should read: "Obama Buys Union Votes with Taxpayers' Money"
        cruisedoc
        • 2 Years Ago
        @mckdarren
        Sorry Mc, I rated a Plus and it came up as a Minus. I agree 100%. GM would have reorganized and still provide roughly the same number of jobs as today ....the unions would have lost much bigger in a reorganization. This way, only those nasty greedy investors saw huge losses. Want some fun, google Executive Order #13502.
      duvhoc
      • 2 Years Ago
      Bailing out GM was like grabbing for a turd after the tolet has been flushed.
        • 2 Years Ago
        @duvhoc
        [blocked]
      fishinmoretimes
      • 2 Years Ago
      This is what happens when the DEMOCRATS BUY VOTES from unions. File for Chapter 11 and fix the prob;em - ALL OF THEM! SAVE AMERICA, VOTE RIGHT IN 2012!!!!
        lifeartist
        • 2 Years Ago
        @fishinmoretimes
        And that would be? One choice is a millionaire who made his money breaking apart companies that employed middle class workers, or the other who is a career politician who wants monarchy-like powers that include arresting judges? Neither appeals to me, sorry.
      • 2 Years Ago
      [blocked]
        Rar
        • 2 Years Ago
        And the Camry looks worlds different than the last one, whatever.
        • 2 Years Ago
        [blocked]
          spy4
          • 2 Years Ago
          That's odd, the new Maliboo looks just like the past Maliboo. Only difference I see is a slightly different C-pillar.
        axiomatik
        • 2 Years Ago
        And the new Accord 'concept' Honda showed at Detroit looks just like the old 2-door with different bumpers.....
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