S. government will sell its stake in General Motors eventually, but the company has not asked the Treasury Department to sell soon, a source familiar with the discussions said.
GM and the Treasury Department discuss the company's progress regularly, but the source said GM has not proposed any timetable for the government to sell its 500.1 million shares.
The government's stake in GM remains politically sensitive. President Barack Obama's administration is patient because selling at the stock's current price -- it closed Monday at $23.80 -- would result in a loss of more than $15 billion on taxpayers' $49.5 billion the Bush and Obama administrations provided GM in 2008 and 2009. Republican presidential candidate Mitt Romney has said he would be willing to sell the shares soon if he were elected.Read Article