US Government to Sell More GM shares

4 years 9 months 3 weeks ago Thursday, September 26 2013 Sep 26, 2013 Thursday, September 26, 2013 8:53:09 AM CDT September 26, 2013 in News
By: The Associated Press

NEW YORK (AP) - The U.S. government says it's starting another phase of selling General Motors stock after cutting its stake to just over 7 percent.

The Treasury Department says it still owns 101.3 million GM shares. It got 912 million GM shares in exchange for a $49.5 billion bailout of GM in 2009. So far taxpayers have recovered about $35.4 billion. That means they're still $14.1 billion in the hole on the bailout.

To break even, the remaining shares would have to sell for nearly $140 each. At the current price of $37.19, the government would get nearly $3.8 billion more. So taxpayers are likely to lose around $10 billion on the deal.

The Treasury plans to sell all of its shares by the first of April.

 

More News

Grid
List
KANSAS CITY (AP) — A man who was shot to death on Sunday after shooting three Kansas City police officers... More >>
6 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:33:33 PM CDT July 18, 2018 in News
MANSFIELD (AP) — The Missouri State Highway Patrol says a trooper who was shot in southwest Missouri has been released... More >>
6 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:28:02 PM CDT July 18, 2018 in News
ST. LOUIS (AP) — The white former interim police chief of St. Louis is alleging discrimination based on race in... More >>
6 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:20:28 PM CDT July 18, 2018 in News
COLUMBIA - Japanese beetles are swarming mid-Missouri in the tens of thousands, wreaking havoc on gardens, crops and trees. ... More >>
6 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:18:00 PM CDT July 18, 2018 in News
WASHINGTON (AP) — Donald Trump will visit Missouri next week to deliver his first address as president to the annual... More >>
6 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:13:07 PM CDT July 18, 2018 in News
JEFFERSON CITY - On Wednesday, Governor Parson issued an executive order putting nearly half of the counties in Missouri under... More >>
6 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:12:00 PM CDT July 18, 2018 in News
JEFFERSON CITY (AP) — A Missouri state representative has unblocked a critic from her Twitter account after he sued. ... More >>
6 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:10:32 PM CDT July 18, 2018 in News
KANSAS CITY (AP) — A Kansas City-area woman has been charged with letting men rape her 2-year-old daughter. Twenty-five-year-old... More >>
9 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 5:12:46 PM CDT July 18, 2018 in News
HARRISBURG - A town rocked by tragedy continues to heal after the man responsible for the car crash that killed... More >>
10 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 4:57:00 PM CDT July 18, 2018 in News
MILLER COUNTY - Deputies arrested a man following an investigation into alleged sexual abuse, and charges were filed in the... More >>
10 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 4:05:32 PM CDT July 18, 2018 in News
JEFFERSON CITY – Different sides reacted Wednesday to the Missouri Supreme Court's ruling in favor of a wind energy project.... More >>
11 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 3:37:00 PM CDT July 18, 2018 in News
JEFFERSON CITY - The Missouri Democratic Party filed an appeal to the ruling from a Cole County judge dismissing a... More >>
13 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 1:59:00 PM CDT July 18, 2018 in News
FULTON - In the span of one month, law enforcement responded to nine car crashes on Route F between Boone... More >>
13 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 1:40:00 PM CDT July 18, 2018 in News
COLUMBIA - The man who caused the crash which left a Harrisburg teacher dead pleaded guilty Wednesday. Brandon Brill,... More >>
14 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 12:34:00 PM CDT July 18, 2018 in News
SANTA ANA, CALIFORNIA (AP) — Wet and muddy from their trek across the Mexican border, immigrant children say they sat... More >>
16 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 10:50:00 AM CDT July 18, 2018 in News
(CNN) -- The 12 members of a youth soccer team and their coach who spent more than two weeks trapped... More >>
18 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:24:00 AM CDT July 18, 2018 in News
JEFFERSON CITY (AP) — A Missouri program aimed at connecting stroke, heart attack and trauma patients with the best care... More >>
18 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 8:17:00 AM CDT July 18, 2018 in News
(CNN) -- The owner of the Mandalay Bay hotel says it bears no liability in last year's Las Vegas concert... More >>
20 hours ago Wednesday, July 18 2018 Jul 18, 2018 Wednesday, July 18, 2018 6:32:00 AM CDT July 18, 2018 in News
Columbia, MO
Broken Clouds 76°
4am 74°
5am 74°
6am 72°
7am 72°