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Suprise! US In Rush to Sell Off GM Shares

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posted on Apr, 19 2011 @ 09:43 AM
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From The Raw Story:

US in rush to sell off GM stake: report



www.rawstory.com...


The United States plans to sell off much of its remaining shares in General Motors this summer despite the lackluster performance of the company's stock, the Wall Street Journal has reported.

The newspaper said the sale within the next six months would "almost certainly" mean that US taxpayers would take a loss from a politically controversial $50 billion rescue of the auto giant in 2009.


Anyone remember back to when GM got its bailout money? Remember all the politicians who insisted we, the taxpayers, were going to come out of this smelling like roses?

How about if anyone can remember people like you and me, or folks on Alternative News sites screaming "No! We're going to end up getting our collective #sses handed to us."?


The government would need to sell its roughly 500 million shares for $53 dollars each in order to break even, but GM's stock is currently hovering around 30 dollars per share, the newspaper said.

At the current price, the government would lose more than $11 billion, but the Obama administration is willing to accept the loss in order to cut its last ties to the auto manufacturer, the newspaper said, citing unnamed sources.


Gee, now there's a surprise.

Seems like you just cannot trust politicians anymore.





posted on Apr, 19 2011 @ 09:54 AM
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reply to post by Hessling
 


RIDICULOUS we are being played like fiddles



posted on Apr, 19 2011 @ 10:56 AM
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Why does my butt hurt?

Oh, 'cuz I just got SCREWED by the government again. Thanks!



posted on Apr, 19 2011 @ 11:23 AM
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This has been the story of the auto industry for a long time, it is a socialist sheep wrapped up as a capitalistic wolf.



posted on Apr, 19 2011 @ 07:26 PM
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serves GM right.. they mad crapy cars DESIGNED to fail in order to increae profits for the overpaid workers from the mid 70's til today..

pre 72 gm autos are the best..



posted on Apr, 19 2011 @ 07:44 PM
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reply to post by Artorius
 


3 cars gm made, that were awesome, many wanted and loved, and GM inexplicably cancelled


1. 84-87; buick gran national, gnx, and t-type..
2. 94-96; impala ss
3. 90-93; 454 ss pickups

there were others, but these were sweet rides that most guys drooled over and wished to own. imagine how these and more like them would have helped GM.

I kinda think GM was sabotaged early on by decisions made on which cars to sell and/or cancel


oh, and this HUGE Blunder..

not selling a diesel version on the suburban, tahoes, and escalades!!

those things have been desired for over a decade!! big suv's that people would buy like crazy that with minor mods can get 25+ mpg!!!! the same as a crappy little 4 or 6 banger car!!!!



posted on Apr, 19 2011 @ 10:32 PM
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reply to post by rebeldog
 


rebeldog,

Man, do I ever remember that car I "inherited" from my Grandparents. It was an early 80s Buick and "inherited" was the right word for it. I "inherited" so many repair bills it was ridiculous. I finally gave up when four different mechanics, at different shops, could not diagnose why the car would kill at any given random moment.

Every thinking person could see the cars being made in Japan were far superior.

Your points about discontinued models does not surprise. I'd almost swear they were trying their very best to fail during that span. Either that or poorly trained monkeys were running the show.

Take your pick.



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