- Aug 4, 2009
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- #21
Looking good for GM....they are going to start selling stock again.
The American People made a wise investment
UAW head: GM to file paperwork in August for IPO - USATODAY.com
GM received about $50 billion last year from the U.S. government to stay in business and make it through bankruptcy court. The company repaid $6.7 billion, and the balance was converted to a 61% government stake in the automaker.
The government hopes to get the rest of the money back when GM sells its shares.
Obama on Thursday said the government will recover all taxpayer money his administration used to bail out the auto industry.
The White House said the president referred only to the $60 billion his administration spent rescuing the auto industry, not the $25 billion spent under the Bush administration. The most recent government estimate found that taxpayers will lose $24.3 billion on the auto bailout.
The Obama and Bush administrations poured $85 billion into General Motors, Chrysler, auto lenders and suppliers to avoid an industrywide meltdown in 2008 and 2009.
The American People made a wise investment
UAW head: GM to file paperwork in August for IPO - USATODAY.com
GM received about $50 billion last year from the U.S. government to stay in business and make it through bankruptcy court. The company repaid $6.7 billion, and the balance was converted to a 61% government stake in the automaker.
The government hopes to get the rest of the money back when GM sells its shares.
Obama on Thursday said the government will recover all taxpayer money his administration used to bail out the auto industry.
The White House said the president referred only to the $60 billion his administration spent rescuing the auto industry, not the $25 billion spent under the Bush administration. The most recent government estimate found that taxpayers will lose $24.3 billion on the auto bailout.
The Obama and Bush administrations poured $85 billion into General Motors, Chrysler, auto lenders and suppliers to avoid an industrywide meltdown in 2008 and 2009.
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