Reuters reports that earlier this week the US Treasury announced the sale of another tranche of General Motors stock. It didn't say how many of the 241.7 million shares it holds in the automaker it would sell, nor exactly when – the discretion apparently intended to keep hedge funds from profiting from the situation. The government's ownership is broken down into common and diluted shares, representing close to 18 percent of the company at the moment, down from the 60.8 percent it owned in 2009 after GM's bankruptcy. This follows a share sale in February, when Treasury sold 17.2 million shares for $489 million.

Although GM's share price is nowhere near the $70-per-share or so that Treasury would need to break even, the department has reiterated that the point of the Troubled Asset Relief Program (TARP) wasn't to make money but to save jobs. GM's share price has, however, almost edged back to its November 2012 IPO price of $33. At the time of writing, shares were trading for $32.10. Based on the timetable Treasury gave in December, it should be fully divested of its GM ownership within a year from now.


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    • 1 Second Ago
  • 57 Comments
      turkeythundergod
      • 1 Year Ago
      So basically the government is throwing my money away so a bunch of union slackers can be overpaid for minimum wage work. Great. This has been THE WORST administration the US has seen, EVER. We may as well have elected Kim Jong Il for President, he would have done less damage to the US.
        JDubbs115
        • 1 Year Ago
        @turkeythundergod
        This started under the Bush Administration. http://www.autoblog.com/2008/12/19/breaking-bush-greenlights-14-7-billion-auto-rescue-bailout-pac/
          mawhalen53
          • 1 Year Ago
          @JDubbs115
          You get out of here with your facts! I'm tryin' to hate on Barack HUSSEIN Obama /sarcasm
          churchmotor
          • 1 Year Ago
          @JDubbs115
          Bush did not ignore bankruptcy laws, kicking the investors, bond holders, and everyone else to the curb, while handing over BILLIONS directly to the UAW. That was ALL Barry Soetoro's doing!
          JGM038
          • 1 Year Ago
          @JDubbs115
          Just because it was started by an idiot doesn't make it right.
          Sanchez
          • 1 Year Ago
          @JDubbs115
          This just serves as a sad reminder that there are relatively few differences between the two major parties in the US, particularly with regard to personal liberty and separation of private and public property. Anyone sitting on either side of the proverbial aisle thinking their side is so much better than the other has been won over and is missing the bigger picture. The primary purpose of the two-party system is perpetuation of the two-party system.
        Lab Rat
        • 1 Year Ago
        @turkeythundergod
        Remember to thank President Bush for the bailouts every day before you leave for work so you don't forget.
        angryinch_1
        • 1 Year Ago
        @turkeythundergod
        It was totally a bailout of the unions. Obama is nothing but a union supporter.
        OptimusPrimeRib
        • 1 Year Ago
        @turkeythundergod
        Things went to hell when Reagan became President and let the free market take over. Look how well that has been working out.
          brandon
          • 1 Year Ago
          @OptimusPrimeRib
          Are you retarded? They were bad before and after reagan. Is it selective memory, or revisionist history? I'm guessing you believe the idiot peanut farmer from GA was a saint? Get a grip, the fed screwed america in the 70's and 80's. Then screwed us even harder in 2002-7. Learn what really caused the recessions.
      SooooRight
      • 1 Year Ago
      Wasn't to make money?!!! LOL! No but trying to break even would be nice!
      churchmotor
      • 1 Year Ago
      I think Obama is doing this to raise more money for his impeachment trial. He and Hillary in a lot of trouble over Libya.
        OptimusPrimeRib
        • 1 Year Ago
        @churchmotor
        If Bush didn't go to jail or get impeached due to Iraq then I doubt Obama will.
          angryinch_1
          • 1 Year Ago
          @OptimusPrimeRib
          Did Bush do something Illegal like Obama? Obama sending troops to kill Qaddafi without congressional approval? Illegal. Obama lying about Bengazi? Illegal. Obama lying about his birth certificate. Obama lying about where he met Michelle? Obama lying about being a professor? Obama lying about his SSN...
        EZen
        • 1 Year Ago
        @churchmotor
        Libya went incredibly well overall, if you want to consider it a war. We don't have any boots on the ground there nor are we fighting with civilians endlessly. No impeachment coming, buddy.
      JDubbs115
      • 1 Year Ago
      It boggles the mind that one could own 241.7 MILLION shares and still only own JUST 18% of a company. GM is simply massive.
        angryinch_1
        • 1 Year Ago
        @JDubbs115
        and massively flawed, and on another course to destruction. None of their problems have been solved. Bad management UAW out of control poor products
          • 1 Year Ago
          @angryinch_1
          [blocked]
      brandon
      • 1 Year Ago
      Saving jobs.....Yep, that's it. :rolleyes:
      angryinch_1
      • 1 Year Ago
      LOL at the Obama defenders. His house of cards is collapsing. http://www.bbc.co.uk/news/world-us-canada-22483768#TWEET751125
      angryinch_1
      • 1 Year Ago
      Hey carguy1701, Since you don't know how to accurately use google. http://youtu.be/iz2PLb2phcQ msDNC of all stations is talking Impeachment. Yep, the advertising channel of the Democratic Party is actually talking about Benghazi being an impeachable offense.
        Spies1
        • 1 Year Ago
        @angryinch_1
        LOL, yonomo, the UAW thug didn't like your post. He worships at Barry's and Michelle's feet.
          • 1 Year Ago
          @Spies1
          [blocked]
      RetrogradE
      • 1 Year Ago
      "Meet the new boss / Same as the old boss." Sh** never changes, man. You think politicians care about us? You think they care about gas prices when they're driven in stretched cars around DC? Anyway, the rich get richer. Glad the Gov is selling off my GM stock. . . I was tired of it anyway.
        axiomatik
        • 1 Year Ago
        @RetrogradE
        Yes, politicians do care about the price of gas. There is a reason why every single president since Nixon has made efforts to reduce our dependence on foreign oil. Our dependence on foreign oil makes the US economy vulnerable to the wild price fluctuations of oil. Our entire economy is built on the continuous supply of affordable oil. Without oil, nothing moves in our economy. People can't drive to work, tractors can't harvest crops, buses can't run, trucks can't deliver goods, planes can't fly, ships can't cross oceans, homes can't be heated in the winter, large chunks of power generation are run on oil. Everything in our economy is reliant on oil. When oil prices spike, prices go up and recessions start. If something drastic happened to the oil supply chain, such as a successful terrorist attack on Saudi ports, the effects would be disastrous for the US, the US economy and the entire world. If the US can wean itself off of foreign oil, we can insulate ourselves from the volatility of the global oil market. Every president since the oil embargoes has tried to reduce our dependence on foreign oil (mostly ineffective, so far), but every time an initiative is proposed, large groups of people scream vociferously for the government to get out of their lives. And then a natural disaster like Katrina comes along, damaging oil refineries. Gas prices double within a week, and people start whining that the government won't do anything about gas prices. We need to get to a point where all transportation is no longer completely reliant on oil. We need semis that run on LNG, electric cars, plug-in hybrids, CNG cars. We need our transportation system to run on a variety of fuels, so that a price-spike in one fuel does not hammer our economy.
        2012 ZR1
        • 1 Year Ago
        @RetrogradE
        You know, YOU could be a politician, too...
      Spies1
      • 1 Year Ago
      LOL, I see yonomo's been here with his dozens of accounts.
      Spies1
      • 1 Year Ago
      Oh come on yomama, a.k.a JDubbs115, Only a - 4 in less than an hour. Get busy. I thought you UAW thugs had plenty of paid break time, get busy BOY!
        JDubbs115
        • 1 Year Ago
        @Spies1
        LOL, watch out, everybody! We got ourselves a badass over here! Don't worry, Spies1, I'll keep sticking with FACTS. They allow people to make informed decisions. I've no time for senseless right-wing speculation. Or left-wing, for that matter. Oh, and: "Get busy. I thought you UAW thugs had plenty of paid break time, get busy BOY!" What kind of fool writes something like this?
          • 1 Year Ago
          @JDubbs115
          [blocked]
        • 1 Year Ago
        @Spies1
        [blocked]
      Spies1
      • 1 Year Ago
      LOL Looks like yonomo200's been a busy boy again. He sure loves defending the crooks at GM
      • 1 Year Ago
      [blocked]
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