WTF? Treasury Department Now Looking To Sell Part Of YOUR GM To The Chinese?

Investment bankers handling the upcoming General Motors  Co. stock sale are expected to court foreign investors as well as those in North America, according to a U.S. Treasury Department statement.

GM and the Treasury Department would not comment Sunday on reports that the automaker is in talks with its current partner in China, SAIC, about buying a stake in the Detroit company. SAIC is owned by the Chinese government.

The Treasury Department, in a statement issued late Friday, said investors in GM would be sought across "multiple geographies," with a focus on North America.




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FatnSassy - 9/20/2010 4:34:57 PM

+4 Boost

So over Obama and this administration

Agent009 - 9/20/2010 4:44:10 PM

+4 Boost

I do find it odd that the US taxpayer technically owns a large portion of this company and so far they have zero input what happens to it.

rueti - 9/20/2010 5:06:34 PM

-3 Boost

I think the majority of US taxpayer voted for the current administration... There is the input by way of democracy.

Joe_Limon - 9/20/2010 5:33:48 PM

+7 Boost

unfortunately the biggest argument against democracy is a 15 minute talk with the average voter... in the case of the last presidency. How many people do you think voted for him specifically cause he was black?

dlin - 9/20/2010 5:48:52 PM

+2 Boost

Why? You think Japanese or German will buy that crap? CHINA is buying it simply for reducing the trading deficit. I'll say include Chrysler w/ it but Italian is ahead already.

uaw_lax - 9/20/2010 6:04:16 PM

+8 Boost

If we are talking about GM, why is that Chrysler headquaters pictured?

freeagent - 9/20/2010 6:13:12 PM

+4 Boost

Stock ownership is a globally fungible good, so once its on the market, its on the global market. From the seller's perspective (US taxpayers), the objective is to maximize the initial capitalization. From a political standpoint, however, Obama is in trouble if China or others end up with a controlling interest right off the bat

uaw_lax - 9/21/2010 2:32:07 AM

-2 Boost

most controlling share amounts have to be approved buy the government.

veyron1001 - 9/21/2010 10:52:04 AM

+3 Boost

I dont want it. GM is pretty much a whore anyways.

theman440 - 9/21/2010 2:57:15 PM

+2 Boost

Why the photo of Chrysler HQ?

rubenkincaid - 9/21/2010 7:54:38 PM

+1 Boost

They can sell my share. GM is a ghost.