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234US government sells off last remaining shares in GM

According to a report from CNBC, the US government has sold off the last of its remaining shares in General Motors. Secretary Jack Lew reports that $39 billion of the $49.5 billion investment in GM has been recovered, meaning that the investment, on paper, cost taxpayers a total of $10 billion.

113Treasury sells almost 1/3 of remaining GM stock

When we last checked the status of the federal government's stake in General Motors in September, it owned about 7.3 percent - roughly 101-million shares worth about $3.7 billion - of the automaker. In October, the Fed sold almost a third of its remaining stake, or 29- to 30-million shares valued at about $1.2 billion, The Detroit News reports. Currently the government owns around 71-million shares.

83Treasury sells more GM stock, stake now at 7.3%

The US Treasury's sale of General Motors stock continues, with the unloading of more than 110 million shares between May 9 and September 13 netting the government agency $3.82 billion and reducing its stake in GM to 7.3 percent, Reuters reports. The Treasury also confirmed that it now holds 101-million shares, which are on track to be sold by March 2014.

68US Treasury sells $877 million in GM stock

The United States Treasury has shuffled another 135 to 137 million shares of General Motors stock as it continues its exit from the Detroit-based manufacturer. According to The Detroit News, the July sale netted the government $876.9 million, which was valued between $34 and $37 per share.

15Canada getting ready to sell GM stake

Canada's federal government and the government of the province of Ontario have started searching for an investment bank to sell the rest of their combined 140 million shares in General Motors, according to an unidentified source, Bloomberg reports. That represents a 10-percent stake up for sale. The news doesn't come as a surprise because Finance Minister Jim Flaherty said in December that Canada wanted to sell its shares of GM stock, a point that was reiterated yesterday by one of his spokespeo

121Treasury needs GM stock to be worth $95.51 to break even

Special Inspector General Christy Romero has delivered another report to Congress on the state of the Troubled Asset Relief Program (TARP) up to June 6 of this year, assessing numbers to the US Treasury's remaining stake in General Motors. After stock sales in February and another a few months later, the Fed is still the owner of 14 percent of GM, totaling 189 million shares, and is $18.1 billion in the hole after the $49.5 billion loan to the automaker. Although the share price has risen more t

21Treasury poised to sell off 30 million more GM shares

The next step in the US Treasury's efforts to eliminate its financial interests in General Motors will involve the sale of 30 million shares of the automaker's stock. The government's move to divest itself of GM is all part of a larger plan to sell the remaining 300 million shares of stock it received in compensation for the 2009 bailout of the then-failing automaker. The US Treasury plans to sell off all remaining stock – around 18-percent of GM – by early next year, yet this 30 mil

16GM stock prices finally eclipse $33 IPO price

General Motors has reached an important milestone this morning: the price for one share of the company has climbed to over $33. That's higher than the Initial Public Offering price from 2010. At roughly 12:15PM Eastern today, GM shares were up $0.97 on the day, some 2.99 percent, for a total of $33.36. The Detroit Free Press reports that the last time GM stock closed over $33 was on May 4, 2011. GM stock has been steadily growing in value throughout 2013. The stock price is up by 14 percent sinc

57Treasury to begin selling off more GM stock

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

50US Treasury signals it will sell off remaining GM shares

True to its word, the US Treasury Department has taken steps today to rid itself of its remaining 300-million shares of General Motors stock. The Treasury has engaged both JP Morgan and Citigroup Global Markets to handle the sale of the remaining shares, reports the Detroit Free Press.

105Stock buyback gives GM execs permission to use corporate jets again

General Motors executives are once again certified members of the jet set. As you may recall, one of the concessions made by automakers in accepting government assistance back in 2009 was a requirement to discontinue the use of private jets in lieu of standard commercial airline flights. The issue first reared its head after the three auto CEOs from Detroit flew in private jets to Washington to outline why the industry needed bailout money. Not so smart.

31Bill proposes U.S. sell GM stock to fund Delphi retiree pensions

A new proposal to sell $1 billion of government-held General Motors stock to help restore Delphi white collar retirees pensions was balked at by one group attempting to build up the underfunded pension.

246Feds expect greater loss on auto bailout

The saga of the U.S. Treasury's involvement with General Motors has become the theater of call and response: the call is Treasury announcing how much it stands to lose on its bailout of GM, the response is a turgid chorus of "Government Motors!" and "They should have died!" peppered with a few defenders trying to make themselves heard. Well, here we go again, since the latest Treasury report filed states that it stands to lose $25.1 billion on the 500 million shares of GM stock it still owns.

17CEO Akerson buys over $500K in GM stock

You have to feel for Dan Akerson. Not only is the guy stuck parking his Chevrolet Volt at the country club next to all those 500-plus-horsepower tarmac terrors from Audi, BMW and Mercedes-Benz, but he's woefully underpaid.

34Treasury has no plans to sell remaining GM stock quite yet

General Motors stock has been languishing for months, failing to climb past $30 per share since July of last year. Trading at around $22 per share today, the optimism that surrounded the company's emergence from bankruptcy and initial public offering in November 2010 has all but vanished. So it's no wonder that the United States Treasury has decided to sit on its GM shares, with no plans to sell of its remaining 26 percent stake in the automaker.

70GM reports 2011 profit of $7.6 billion

General Motors today reported its earnings for last year and the fourth fiscal quarter of 2011. The automaker's profits for 2011 totaled $7.6 billion, up from $4.7 billion in 2010.

119GM leads worst performing auto stocks of 2011

In spite of General Motors standing poised to retake the top sales spot, Chevrolet perhaps breaking its all-time sales record, and an anticipated Buick and two new Cadillac models coming, GM's stock price got beat like a goat in 2011. On January 2, 2011 the stock traded at $37.06, on January 2, 2012, it hovered a few dimes above $20, making GM the worst-performing auto-industry stock of 2011: with a 46.1-percent drop, it edged out Cooper Tire (-41.7), TRW Automotive (-40) and Ford (-37.3).

110One year after IPO, GM stock is down by a third

It's been a full year since the General Motors Initial Public Offering, and the company's stock isn't performing as well as anyone in Detroit or Washington, D.C. would like. As The Detroit News notes, the stock has dipped by 30 percent from its initial price, thanks in part to troubles in Europe and internal dissatisfaction with the company's profit margins. As of last Wednesday, the company's stock fell by 10.9 percent to $22.31 when GM announced that its fourth-quarter earnings wouldn't make a

22U.S. hesitant to sell its GM stock due to low price

The United States government still has a vested interest in the success of General Motors. In fact, the U.S. government is sitting on 500 million shares, which are currently worth about $14.3 billion dollars based on current prices. There is a problem, though, as the U.S. Treasury Department was hoping to get a larger pile of green for its GM investment.

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