US Government to Sell Remaining GM Stock by End of 2013

The US Treasury Department plans to sell its remaining shares of General Motors by the end of the year, according to a statement that was released earlier this week.
GM headquarters 1 photo
After selling $1.2 billion worth of GM stock last month, the US government still has 31.1 million shares to get rid off this year. The Treasury confirmed that it had recovered $38.4 million from its GM bailout, but rumor has it there will be a loss of about $10 billion once the last shares are sold... and taxpayers won’t be happy about it.

Meanwhile, General Motors promises to make the most of its post-bailout era by building and selling “outstanding cars and trucks” and reinvesting across the United States. No word on dropping the bottomless pit called Opel though...

“While the US Treasury’s equity stake draws to a close, our work to transform GM continues. We’re making great progress in our efforts to make the most of this second chance by building outstanding cars and trucks, creating jobs and reinvesting in our country,” GM said in a statement.
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About the author: Ciprian Florea
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Ask Ciprian about cars and he'll reveal an obsession with classics and an annoyance with modern design cues. Read his articles and you'll understand why his ideal SUV is the 1969 Chevrolet K5 Blazer.
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