GM Urges The Feds To Take A Loss So It Can Play Like The Big Boys

The United States Treasury Department is resisting General Motors’ push to sell its entire stake in the carmaker.

The U.S. Treasury kept GM afloat with a $50 billion bailout in 2009 and now owns 26.5 percent of the largest U.S. carmaker.

According to the Wall Street Journal, GM executives are frustrated with that ownership and with the nickname “Government Motors”. Executives believe that the U.S.’s shadow affects its reputation and the company’s ability to recruit talent because of pay restrictions imposed by the government. Executives are also unhappy with the continued restrictions on corporate jet use.



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dlin - 9/17/2012 3:27:28 PM

+2 Boost

Take the loss this time; take the loss next time.

Steve - 9/17/2012 4:40:04 PM

+5 Boost

I have a great idea! GM: Buy back the shares at book value. You end up looking like a hero, and you shake that “Government Motors “moniker.

What's that, GM? You say only a fool would pay for those shares what the Feds did? Well, yeah. That's why tax payers are pissed that they now own your losses. And they're pissed you're talking trash as though "The Government" owns those losses. And they're more than happy to poke at you for being a leech, GM. Any questions?

Suck it up, GM, you cry-baby.

wins555 - 9/18/2012 2:23:11 AM

+2 Boost

If government takes back those shares, GM will be free to do what they've always done in the past, which is to screw things up and get fat paychecks. Then GM will be in the red again after a few years and they'll be counting on the government to bail them out again.

The government should still meddle in GM's affairs just to put things straight. GM=deal with it.

Car4Life - 9/18/2012 10:15:17 AM

+2 Boost

How about you prove you can operate profitably and ethically and then the government will stop holding you hand, until then...we're watching.

wins555 - 9/19/2012 12:33:47 AM

+1 Boost

The only way GM is going to get rid of the government shares is if they (GM) become very profitable and buy out the government shares at a huge premium. By this time, GM would have been a very efficient corporation at the top of their game.

Ok forget it.