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GM Stock: More Bad News for Taxpayers

Discussion in 'Political Issues' started by aircarver, Jul 26, 2012.

  1. aircarver

    aircarver Ride Continues Silver Member

    http://www.detroitnews.com/article/...1361/GM-stock-falls-to-new-low-on-Europe-woes

    "GM's low stock price has prevented the Treasury from exiting the automaker. It still holds 500 million shares of stock in the company as part of its $49.5 billion bailout, or a 32 percent stake.

    It needs about $53 a share in order to break even on its GM bailout. At current prices, it would lose $17.25 billion on the bailout."

    :frown:

    .
     
  2. Deployment Solu

    Deployment Solu Kydex Crafter

    6,010
    4
    Jul 18, 2007
    Arkansas

  3. snerd

    snerd

    13,298
    3,899
    Apr 20, 2007
    And don't forget all the schnooks that bought Facebook at $45

    26.84 [​IMG] 2.50(8.50%) Jul 26, 4:00PM EDT|After Hours: 23.97 [​IMG] 2.88 (10.71%) Jul 26, 7:59PM EDT




    [​IMG]
     
  4. Guss

    Guss

    4,147
    271
    Jul 1, 2010
    Tampa
    If, as the article says, we are down to a 32% stake in GM, that means that we've already taken a nice profit, since we started out with a 61% share and the stock has had a nice run with prices at higher than original issue. So if you if you just look at what is left, it looks bad, but if you look at the bigger picture, it's not so bad.

    If we did what Romney wanted and sold out the rest fast, that size sale would drive down the stock price which wouldn't be good for us.