US Government to Sell More GM shares

5 years 7 months 4 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
CHARITON COUNTY - The Chariton County Emergency Management Agency is organizing sandbagging efforts in Brunswick Monday morning. Residents in need... More >>
7 hours ago Sunday, May 26 2019 May 26, 2019 Sunday, May 26, 2019 8:55:00 PM CDT May 26, 2019 in News
JEFFERSON CITY - Missouri's capital city is still piled high with metal, pieces of houses, glass and vegetation after four... More >>
10 hours ago Sunday, May 26 2019 May 26, 2019 Sunday, May 26, 2019 6:08:00 PM CDT May 26, 2019 in Top Stories
CALLAWAY COUNTY - After months of rehab work, volunteer firefighter Tim Hays is back at the North Callaway Fire Protection... More >>
12 hours ago Sunday, May 26 2019 May 26, 2019 Sunday, May 26, 2019 4:22:00 PM CDT May 26, 2019 in News
BRUNSWICK - Some residents of Brunswick are encouraged to evacuate their homes due to heavy flooding in the area, according... More >>
13 hours ago Sunday, May 26 2019 May 26, 2019 Sunday, May 26, 2019 2:55:00 PM CDT May 26, 2019 in News
ROCHEPORT – Severe flooding is happening across mid-Missouri and in Rocheport the flooding is leaving a finacial impact on businesses.... More >>
1 day ago Saturday, May 25 2019 May 25, 2019 Saturday, May 25, 2019 7:57:00 PM CDT May 25, 2019 in News
ELDON - Married couple and business partners Jennifer and Jeremy Hart are counting their blessings after the historic motel they... More >>
1 day ago Saturday, May 25 2019 May 25, 2019 Saturday, May 25, 2019 4:33:00 PM CDT May 25, 2019 in News
COLUMBIA - Twenty years after the Columbine High School shooting, many parents have only tepid confidence in school safety, according... More >>
1 day ago Saturday, May 25 2019 May 25, 2019 Saturday, May 25, 2019 3:16:00 PM CDT May 25, 2019 in News
JEFFERSON CITY - The Jefferson City Police Department released an official request for volunteers Saturday morning following Wednesday's EF-3 tornado.... More >>
1 day ago Saturday, May 25 2019 May 25, 2019 Saturday, May 25, 2019 1:56:00 PM CDT May 25, 2019 in News
ELDON - Sen. Josh Hawley (R-MO) spent his Saturday touring the path of destruction Wednesday's tornadoes left behind. Hawley... More >>
1 day ago Saturday, May 25 2019 May 25, 2019 Saturday, May 25, 2019 1:39:00 PM CDT May 25, 2019 in News
JEFFERSON CITY - The Jefferson City Police Department is investigating two incidents of alleged looting involving three individuals Friday afternoon... More >>
1 day ago Saturday, May 25 2019 May 25, 2019 Saturday, May 25, 2019 1:18:00 PM CDT May 25, 2019 in News
JEFFERSON CITY - Neighbors in Jefferson City were already watching the Missouri River rise, but no one planned on an... More >>
2 days ago Friday, May 24 2019 May 24, 2019 Friday, May 24, 2019 11:42:00 PM CDT May 24, 2019 in News
COLUMBIA - According to the Callaway County Sheriff's Office, water was over the runways at Jefferson City Airport in Callaway... More >>
2 days ago Friday, May 24 2019 May 24, 2019 Friday, May 24, 2019 8:09:00 PM CDT May 24, 2019 in Coverage From Callaway
JEFFERSON CITY - Insurance companies will inspect and process claims for damaged homes over the weekend. Wednesday night's tornado badly... More >>
2 days ago Friday, May 24 2019 May 24, 2019 Friday, May 24, 2019 6:48:00 PM CDT May 24, 2019 in Continuous News
COLUMBIA - A man involved in a car crash on I-70 May 16 has died from his injuries. William... More >>
2 days ago Friday, May 24 2019 May 24, 2019 Friday, May 24, 2019 6:31:00 PM CDT May 24, 2019 in News
BOONE COUNTY - The Missouri River has completely overflowed its banks near the end of South Route N. near Ashland.... More >>
2 days ago Friday, May 24 2019 May 24, 2019 Friday, May 24, 2019 6:16:00 PM CDT May 24, 2019 in News
JEFFERSON CITY - Jefferson City is offering instructions on how to get rid of the debris created by Wednesday's tornado.... More >>
2 days ago Friday, May 24 2019 May 24, 2019 Friday, May 24, 2019 5:08:00 PM CDT May 24, 2019 in News
JEFFERSON CITY - Insurance agents are warning people hit by Wednesday's tornado to be careful about signing repair contracts. ... More >>
2 days ago Friday, May 24 2019 May 24, 2019 Friday, May 24, 2019 3:26:00 PM CDT May 24, 2019 in News
JEFFERSON CITY – Volunteers from all over Jefferson City are working to help those affected by the tornado. The... More >>
2 days ago Friday, May 24 2019 May 24, 2019 Friday, May 24, 2019 2:37:00 PM CDT May 24, 2019 in Top Stories
Columbia, MO
Broken Clouds 68°
5am 68°
6am 68°
7am 69°
8am 72°