Treasury exits rest of GM stake

The U.S. government has sold the remainder of its stake in GM, with the final sale netting $9.2B. Out of $51B Treasury invested in the automaker, it recovered $39B.

Shares +1% AH following a 1.8% gain in the day's regular session.

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Comments (13)
  • jack897
    , contributor
    Comments (269) | Send Message
    The media likes to say 10 billions, not 9.2 billions. This is a lot less than what Ford has costs the US Government.
    9 Dec 2013, 05:12 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11330) | Send Message
    What is American about the government picking winners and losers?


    Isn't this supposed to be a capitalist nation?
    9 Dec 2013, 05:17 PM Reply Like
  • chopchop0
    , contributor
    Comments (5268) | Send Message
    That also goes out of the window when you have an avid union supporter in the WH. Just look at the terms of the GM "bankruptcy" and subsequent steps leading to this. The treasury wasn't the only one who took it on the chin in terms of big losses.
    9 Dec 2013, 08:37 PM Reply Like
  • soundwaves
    , contributor
    Comments (29) | Send Message
    The label don't matter it's about how you stay afloat.
    9 Dec 2013, 06:46 PM Reply Like
  • tcbracing
    , contributor
    Comments (345) | Send Message
    85,500 U.S. Workers
    41 U.S. Manufacturing Facilities
    $8.8 Billion in U.S. investment since 2009
    $42.8 Billion Purchased from U.S. Suppliers in 2012
    1,377 U.S. Patents in 2012
    250,711 Vehicles Exported From U.S. in 2012


    Now that is an American success story.


    Including saving 1.2 Million jobs


    And generating an 8:1 savings
    9 Dec 2013, 06:57 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11330) | Send Message
    Why not Lehman Bros. employees then?


    What makes GM employees more American than Lehman Bros. employees?


    Private enterprise or government enterprise?
    10 Dec 2013, 07:37 AM Reply Like
  • Andrew Noland
    , contributor
    Comments (131) | Send Message


    It could be argued that the Lehman and Bear Sterns employees had a much bigger hand in their company's downfall than the GM employees did.


    Additionally, Lehman and Bear Sterns had so many toxic assets and so much liability that the government would have been sticking its hand in a bee hive.


    Finally, the "moral hazard" aspect is much stronger with banks - you can't bail out banks regularly, because you need banks to be cautious with money, and if you always step in to save them they won't be cautious anymore.
    10 Dec 2013, 10:58 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11330) | Send Message
    But we bailed out the "bank" that the (then) Treasury secretary formerly led.


    And how did the office clerks and other low-level support staff help bring about the downfall of those financial companies? Could the same be said about the hourly wage line workers in Detroit?


    I didn't support the bank bailouts and regarding the auto companies...they aren't any more worthy than that banks.


    Private enterprise is supposed to be private and risk taking matters for all who take them.
    10 Dec 2013, 11:33 AM Reply Like
  • soundwaves
    , contributor
    Comments (29) | Send Message
    Well said tcbracing !
    Did 30 at GM and out In 2000!
    Sometimes circumstances leave us with only a few ways to stop the bleeding. I'm ok with my tax money saving American jobs.
    9 Dec 2013, 07:41 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (11330) | Send Message
    What about American jobs at Bear Stearns?


    Are those employees less American than GM employees?
    10 Dec 2013, 07:38 AM Reply Like
  • Andrew Noland
    , contributor
    Comments (131) | Send Message
    The negative profit figure is misleading because the government also saved itself quite a bit of tax money by saving GM employees' jobs, and added tax based on the ripple effect the bailout had on propping up the overall economy. I think the bailout was a success for the government and the American people. Now - the question is - will the bailout create "moral hazard" that causes businesses to be more reckless in the future, knowing the government will step in to save them? That remains to be seen.
    10 Dec 2013, 02:04 AM Reply Like
  • Patent News
    , contributor
    Comments (1475) | Send Message
    indeed, GM stock should be going to 60.


    cant let politics get in the way of investing.


    job is to make $$$ not argue on useless points for hours on end.


    it's done, get over it.
    10 Dec 2013, 03:45 AM Reply Like
  • Michael Eisenberg
    , contributor
    Comments (284) | Send Message
    The Obama government loses 20X what they lost on Solyndra and nobody says a word!!
    10 Dec 2013, 09:55 AM Reply Like
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