Filed under: Government/Legal, GM, Earnings/Financials
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http://hss-prod.hss.aol.com/hss/storage/adam/d3a82c50d4593885b31cd2dd896beaee/gm-ownership-dec-9-2013.jpgAccording 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.
GM CEO Dan Akerson said in a statement, which you can read in full down below, “We will always be grateful for the second chance extended to us and we are doing our best to make the most of it. … Continued investments, innovation, and job creation are just some of the “returns” of a healthy GM and domestic auto industry.” GM stock closed today at $40.90, which is a new record.
Does this mean we’ve heard the last Government Motors joke? Probably not…Continue reading US government sells off last remaining shares in GM
US government sells off last remaining shares in GM originally appeared on Autoblog on Mon, 09 Dec 2013 17:09:00 EST. Please see our terms for use of feeds.
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