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The Treasury sold 358M shares of General Motors (GM) in the automaker's IPO, raising $11.8B and...

The Treasury sold 358M shares of General Motors (GM) in the automaker's IPO, raising $11.8B and reducing its stake to just under 37% - but if underwriters exercise options to cover overallotment, the total Treasury sale will be 412M shares for $13.6B and a stake reduction to 33.3%. The agency now reportedly plans to reduce - but not eliminate - its oversight role, and it agreed to a six-month lockup, which will dictate whether it will break even on a $40B investment.
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Comments (8)
  • Harry Tuttle
    , contributor
    Comments (2221) | Send Message
    How come nobody is asking why wasn't this done with the banks?


    or AIG.


    Different treatment for different constituencies.
    17 Nov 2010, 07:04 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
    Where is P.T. Barnum when you need him?
    17 Nov 2010, 07:22 PM Reply Like
  • Stoploss
    , contributor
    Comments (1727) | Send Message
    He's all over the place since this circus has more than three rings.
    17 Nov 2010, 07:40 PM Reply Like
  • Donald Ingram
    , contributor
    Comments (3481) | Send Message
    lol Of course! One born every minute! I wonder which one will be buying "Government Motors"? This was 'saved' purely for the UAW and it's members who all vote faithfully for those who 'saved' their cash cow!
    17 Nov 2010, 07:41 PM Reply Like
  • youngman442002
    , contributor
    Comments (5129) | Send Message
    The Chinese will buy to steal the technologies....1 billion for all that R&D....a good buy I would think..and we will hand it right over to them..
    17 Nov 2010, 07:47 PM Reply Like
  • This Game is so Rigged
    , contributor
    Comments (68) | Send Message
    What about the $60Bil that the gov wiped out from the bond holders (who deserved the liquidation rights)?? Break even my ass.
    17 Nov 2010, 08:08 PM Reply Like
  • FlyBy
    , contributor
    Comments (12) | Send Message
    The technology transfer to China is a huge American loss. The bond losses were huge and unaccounted in this article. And also forgetten is GMAC, now aka Ally Financial bailout capital. Sure... the taxpayers of America will certainly break out even, no doubt about that. LOL. The press has already forgotten or ignored all of this chicanery and fraud. When will the prosecution of the guilty parties BEGIN. Is this bailout supporting the argument for larger and more intrusive Big Government. This reminds me of the Tale of The BP Waivers, Katrina, Govt nurtured ACORNs, and the Intercession of Barney Frank and Fattie Mae Raines. Ah, the power of the Performance Plan remuneration! The more toxic assets held inhouse, the greater the personal payout to one man, minus one country.
    Restore the Public Trust, Truth, Justice, and the American Way!
    17 Nov 2010, 11:02 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (3171) | Send Message
    Let us not self-congratulate ourselves too early. In the aftermath of the 2008 near collapse, thousands, management, professionals, union labor alike at GM, its suppliers and vendors, were either laid off or had to take early retirement.


    Equity holders got wiped out.


    The human suffering was untold.
    17 Nov 2010, 11:44 PM Reply Like
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