Government to Sell GM Stock at a Big Loss

Discussion in 'Economy' started by usmcstinger, Dec 20, 2012.

  1. usmcstinger
    Offline

    usmcstinger Silver Member

    Joined:
    Dec 31, 2011
    Messages:
    1,064
    Thanks Received:
    197
    Trophy Points:
    98
    Ratings:
    +251
    The ( US Government )deal negotiated with GM for the 200 million shares will cut the U.S. stake to 19% but raise the price needed to break even on the remaining 300 million government shares to nearly $70.But the likely loss of billions of dollars by the time all government stock is sold off – at the $27.50 share price, the ultimate loss would amount to around $12.75 billion – will continue to fuel debate.
    GM buys back stock; taxpayers may lose billions - Business on NBCNews.com

    The House of Representatives should hold hearings with The Secretary of the Treasury ( Tim Geithner ) to explain this $12.75 Billion Government Loss. This loss will increase our National Debt and will be payed for by the Citizens of this nation.
     
  2. mjollnir
    Offline

    mjollnir BANNED

    Joined:
    Dec 4, 2012
    Messages:
    1,055
    Thanks Received:
    94
    Trophy Points:
    0
    Ratings:
    +94
    I notice you missed the word 'may'.
     
  3. TNHarley
    Online

    TNHarley Gold Member

    Joined:
    Sep 27, 2012
    Messages:
    26,638
    Thanks Received:
    4,094
    Trophy Points:
    280
    Ratings:
    +20,615
    "Tell your great-grandkids uncle bammy is sorry"
     
  4. AmyNation
    Offline

    AmyNation Road Warrior Supporting Member

    Joined:
    Aug 6, 2012
    Messages:
    9,021
    Thanks Received:
    1,013
    Trophy Points:
    48
    Location:
    Currently stationed at the kitchen table
    Ratings:
    +1,016
    Why would we sell at a loss? We can just hold the stock until the price increases.
     
  5. TNHarley
    Online

    TNHarley Gold Member

    Joined:
    Sep 27, 2012
    Messages:
    26,638
    Thanks Received:
    4,094
    Trophy Points:
    280
    Ratings:
    +20,615
    Its "saving" the auto industry
     
  6. usmcstinger
    Offline

    usmcstinger Silver Member

    Joined:
    Dec 31, 2011
    Messages:
    1,064
    Thanks Received:
    197
    Trophy Points:
    98
    Ratings:
    +251
    It will end up increasing our debt and we will be taxed to pay for it.
     
  7. TNHarley
    Online

    TNHarley Gold Member

    Joined:
    Sep 27, 2012
    Messages:
    26,638
    Thanks Received:
    4,094
    Trophy Points:
    280
    Ratings:
    +20,615
    Why are you using future tense? We pretty much just gave the fuckers 12+ billion dollars. Enjoy your mexican chevy, fucknuts
     
  8. usmcstinger
    Offline

    usmcstinger Silver Member

    Joined:
    Dec 31, 2011
    Messages:
    1,064
    Thanks Received:
    197
    Trophy Points:
    98
    Ratings:
    +251
    The chance of GM Stock reaching a break even price of $70 a share could take up to ten years(and that is conservative estimate) . The current price is $27.29 a share. You can blame Tim Geithner for taking shares of GM instead of making them pay us back in cash. Any person with half a brain new this was not the smartest thing to do.
     
  9. usmcstinger
    Offline

    usmcstinger Silver Member

    Joined:
    Dec 31, 2011
    Messages:
    1,064
    Thanks Received:
    197
    Trophy Points:
    98
    Ratings:
    +251
    likely loss of billions of dollars is more to the point, stupid one.
     
  10. AmyNation
    Offline

    AmyNation Road Warrior Supporting Member

    Joined:
    Aug 6, 2012
    Messages:
    9,021
    Thanks Received:
    1,013
    Trophy Points:
    48
    Location:
    Currently stationed at the kitchen table
    Ratings:
    +1,016
    So? Ten years is not a long time to wait for stock to mature.
     

Share This Page