With The Election Over, Is NOW The Time For The Taxpayer To Take A Loss On GM?

President Barack Obama's re-election opens a clearer path for the government to begin selling some of its 32% stake in General Motors, but there is no indication of when such a sale will happen.

On Monday, the automaker secured a new $11-billion credit facility, fueling speculation that some of that money could be used to buy back some of the government's shares.

"The Obama administration could just go ahead and unload the stake quickly and probably not have to take too much fallout," Morningstar analyst David Whiston said in an interview. "They would still get some negative publicity, though."

 

TauronB2G - 11/8/2012 1:21:49 PM

+3 Boost

It's a paper loss until you sell and realize the loss.
I thought this was a car site...it's leaning further and further into politics on a daily basis. Lately it seems more like faux news.

shabaru - 11/8/2012 1:40:23 PM

-1 Boost

couldn't have agreed more

MBCLS07 - 11/8/2012 4:56:06 PM

+4 Boost

Unfortunately, the government's increased involvement in the automotive industry means politics are now a relevant part of auto industry discussion. Ignoring it doesn't make it go away.

TauronB2G - 11/9/2012 7:16:59 AM

0 Boost

No, not necessarily a democrat, damn sure not a republican, just a guy who knows the stock market.
What I don't understand how on1 hand you guys are pissed that the automakers were saved and you won't buy an American car because it was made by the uaw. Then you complain about how high unemployment is and how Americans don't have jobs. Who's side are you on?
T

LexSucks - 11/9/2012 12:52:21 PM

-2 Boost

UAW didn't have anything to do with Obama winning the election. Obama won because he was up against a flawed candidate that was pushing ideas from the 1950's. Obama isn't destroying the country. Turn off fox news and start thinking for yourself.

LexSucks - 11/9/2012 12:55:08 PM

-2 Boost

"What I don't understand how on1 hand you guys are pissed that the automakers were saved and you won't buy an American car because it was made by the uaw. Then you complain about how high unemployment is and how Americans don't have jobs. Who's side are you on?"

- They are on the side that is counter to whatever side Obama is on. Doesn't matter if that side is correct or not. That's why you see the contradictions. They are too busy knocking Obama to the point where they're not even paying attention to what's coming out of their own mouths.

LexSucks - 11/9/2012 1:06:49 PM

-2 Boost

Is that the "One-Term" President pictured? LOL !! One-Term my Tail-Bone.

PUGPROUD - 11/8/2012 1:54:57 PM

+10 Boost

No. Going forward the taxpayers should only take a loss after the shareholders and unions not before then. We bailed them out.

PLAY - 11/8/2012 2:55:54 PM

+9 Boost

No. GM must accept the government as a major shareholder or buyback the shares to let the government break even or make a profit.

MBCLS07 - 11/8/2012 4:58:42 PM

+3 Boost

marykeana, you're absolutely right. I'm in the market for a new car and there are several domestic models I would otherwise consider. I refuse to purchase a UAW product until they get out of politics.

carsarefun - 11/9/2012 7:12:26 AM

+2 Boost

Marykeana and MBCL507 have it right.

I will never again buy a car made with UAW employees.

The new Honda Accord would have been a nice option as I believe it is non-UAW made. However, I think many are made in Ohio. Now, I will not buy one of those because of how the dummies in Ohio voted in November.

I am down to VW's and BMW's made in the South or in Germany.

This election has cost many of us a lot of money. There is no way I am going to give any of what I have left to the UAW.

CARS ARE FUN

skytop - 11/9/2012 9:26:19 PM

+2 Boost

onumbnutz is a communist pure and simple. He cares nothing for America or the capitalist investors. SCREW them all is odumbo's philosophy.

The welfare and food stamp parasites and dead beats elected onumbnuts so don't complain when he screws America over into total decline and collapse. You are to blame for electing such a worthless scumb.

HughJass - 11/10/2012 4:44:30 PM

+4 Boost

The left would label you a racist for daring to point out the faults of somene who happens not to be white ;)