BREAKING: US Government Sells GM Stake - Books 50% Loss

Insight you have indeed. All the above is correct.

Agreed

I guess. I'd want comp numbers for current workers and retirees before we pass the hat around for donations. Consolidating body styles doesn't mean much to me.

Em Effman!

Awesome! I can't wait until they fix the health care system too!

Only a 25% loss being reported to the masses an Nightly Business Report. Not that a 25% loss is great. They are saying that a million jobs were saved by the Government investment in GM. Jobs were saved.

Investing in stocks is a gamble at best unless you control the game.

It will be interesting to see how the progressives/unions handle the issue of means testing healthcare and social security.

We will see just how much they are for "the middle class"

No jobs were saved, there is no such thing. Instead jobs were lost because inefficient companies stayed in business. If GM had failed back in '08, other car companies would have taken up the sales lost by GM. Those companies would have had to ramp up production and would end up hiring the people laid off at GM. Those companies operate more efficiently and thus stimulate the economy culminating in job creation.

Oh, I see, so you'd support the ripping off of the taxpayers as long as its convenient for you.

GM is buying back their shares over the next 12 to 15 months. That is a good news story, unless you are just a sad GOP shill. BTW, 6,700 people die in the USA every single day. Most of them are GOP voters. Good luck in 2016.

Do you realize that the government is basically saying that they would rather cut their losses now than wait to see if they can recoup their investment? That means that the government has lost all faith in a GM comeback. If that is a good news story, I'd hate to see a bad one.

The government is giving GM the ability to buy their shares back at half price, after they were already bailed out. And the government underwrote the IPO.

The government is also funding lots of severance packages via the government retirement board, SS disability, and other mechanisms.

This is a fantastic story if you are associated with GM in any way.

All that comes to mind is...



You didn't see this coming?



This country is about as bright as a box of busted bulbs.

Do you really wanna drive something an Obama voter built?

My Government has become vile,evil, and dirty.......

Another case of the current administration showing off its superior business prowess. What a fucking joke we all just took it in the ass AGAIN directly because of the douchebag in chiefs lack of brain function

Fantastic story? Are you out of your mind? GM isn't getting some great deal by buying back shares. Companies are not in the business of buying back their own shares unless they want to take the company private. This is a terrible thing that is happening to GM. Why are you here shilling?

Got to cash out the loss on the first bailout before you can have the second one...

The country is broke. There will be no second bailout. The government knows it and GM knows it. Right now both are in damage control mode. When GM collapses so too will the democratic party, the Obama Administration, and any hopes of Americans fulfulling the American dream.

I have friends that work the line they have been working non stop all year, overtime weekends etc etc I was shocked when he told me how busy they were and I was thinking to myself...

Who the hell s buying all these cars.... Answer no one...lots full of them but in Order to secure Ohio and Michigan votes I guess the gov had a real motivation to keep the lines humming...and now after election

They will sell their stake at a loss...then in new years massive lay offs are coming....

All the while people not having a clue that they have been played with and all that work was just busy work to keep them happy and occupied until after the election....

In stark contrast, the Department of the Treasury sold its stake in Citigroup at a $7.5 billion profit back in 2010. Why, I ask, why would the Department of the Treasury sell its stake in a company at a loss of nearly $50 billion? I'll tell you why, because GM is about to go belly up. That's why.

Not much different from herding Bulgarian Goats I guess.

Well, at least you will have access to some good Guiness.

Wow. If this is true then this is without a doubt one of the saddest times in American history. It reminds me of a Russian tsar who put up a bunch of fake storefronts to make people think that the country was in better financial shape than it really was.

I found the story on Wikipedia: [link to en.wikipedia.org]

The term Potemkin Village came from this event.

If you have any friends that work the assembly lines just ask them the same question... Then look around you and see how many new cars are in your neighborhood... Then think back to the elections and the Obama strategists always maintaining that Ohio and Michigan were key states...

This is why the gov should never own businesses...

What should have happened is that gm should have failed....and went belly up....

I understand the argument about bailing out in order to save jobs but in the long run it only hurts never helps...

What would happen if the president in the early part of the century decided to bailout all stage coach drivers, all blacksmiths and all steam engine operators in order to preserve their shrinking jobs?

Come on man it doesn't make sense...bailouts kill innovation....if gm went under I GURANTEE you a group of smart efficient businessmen would fill the void...but no, bailouts is a way for the elites to PRESS pause on the staus quo...

The pecking order will always remain..,the guys on top will always stay on top regardless of the fact that they could fuck things up so badly that it won't even make a difference because the stupid plebes and their un born off spring and their kids greatgrand kids...will be footing the bill to keep the status quo going for as long as they can get away with it

They've been giving stealth bailouts to GM for years now. The government is two years ahead on purchases of government vehicles...all GM now! They bailed out GMAC Finance seperate of GM itself as well...

As long as those printing presses are working, they will bail them out...

Don't buy any GM products. They'll be out of business in about a year.

Agreed...the govt who are stakeholders have access to the order flow...if they thought things would really pick up in 2013... They wouldn't be selling now...

50%... not bad for govt work.