If You Were President How Would You End Government Ownership Of General Motors?

If You Were President How Would You End Government Ownership Of General Motors?
The bailout of General Motors Co. played an important role in the re-election of President Barack Obama, who stumped on the issue in Midwestern swing states. Now comes the hard part: unloading the government’s stake, probably at a big loss.

GM received $51 billion from the U.S. Treasury in 2009. Taxpayers have recouped $24 billion and still own 32 percent of the company. The problem is that GM shares are trading at less than half the price the government said it needs to break even. Selling the shares was politically precarious before the election because that would have locked in a loss -- $14.1 billion at today’s closing price. Now that the election is over, cutting the stake could be good for GM’s image and its stock.

 

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HughJassHughJass - 11/12/2012 3:22:26 PM
+3 Boost
Congratulations Ohio, this is how much buying your votes cost the rest of the country. I hope GM collapses and Ohio gets buried in the rubble. See what Jesus does for them then or if he'll continue blaming Bush the next 4 years.

Go Ford!


enthusiastx11enthusiastx11 - 11/12/2012 8:53:32 PM
0 Boost
buying their vote? haha. it happened 4 years ago and was driven by bush.

http://www.cleveland.com/opinion/index.ssf/2012/09/george_w_bush_deserves_credit.html


HughJassHughJass - 11/13/2012 12:20:54 PM
+2 Boost
Oh, so Bush did something right then? Jesus seemed to take all the credit.

I don't see him advertising the bailout shipped 131,000 jobs out of the country. GM should've been left to die so a new, non-unionized GM could rise from the ashes.


Agent009Agent009 - 11/12/2012 3:59:33 PM
+2 Boost
No doubt some states benefited more than others with the bailout. The Ohio economy is less diversified than many thus is more dependent on singular factors. So to then it was a big deal.


PLAYPLAY - 11/12/2012 6:22:13 PM
+3 Boost
Let GM buyback shares so the government can break even, or I would keep the government involved.


PUGPROUDPUGPROUD - 11/12/2012 6:41:35 PM
+2 Boost
Transfer it into the Congress and Senate's pension plan !


enthusiastx11enthusiastx11 - 11/12/2012 8:51:56 PM
0 Boost
the same way they plan to do it...by selling off their 26% stake when it makes sense from an investment perspective.


enthusiastx11enthusiastx11 - 11/13/2012 1:47:32 PM
0 Boost
dear mary: so what is your advice on when to sell? (if not when it makes sense from an investor perspective)


enthusiastx11enthusiastx11 - 11/13/2012 1:48:18 PM
0 Boost
i suppose buy high and sell low makes sense to all of you savvy investors?


delandelan - 11/12/2012 10:08:53 PM
0 Boost
God....enough already, he won! Nothing will change that!


HughJassHughJass - 11/13/2012 12:24:22 PM
+1 Boost
Just like nothing will change the media from painting Obama as one of the greatest, if not THE greatest President in history eventhough he's running the United States into the ground. All because he's a white guy who convinced the stupid half of America that he's actually black.


TheGeniusTheGenius - 11/12/2012 10:20:29 PM
0 Boost
what a strange question??? Enthusiastx11 said it best..When you make some money you sell, dhuuhh! Not sure what the obsession with GM is..


HughJassHughJass - 11/13/2012 12:22:27 PM
+2 Boost
Obama is letting the UAW buy back shares at roughly $10/share. The taxpayer needs to sell at $53/share ot break even. Nice profit for the UAW, stealing all those taxpayer dollars.


globaltraderglobaltrader - 11/13/2012 3:12:51 PM
0 Boost
Perhaps attaching a large anchor to any and all haters and dropping them into a very deep body of water would be a good start. Then we could let the market dictate the sale of any remaing shares. just a thought:) Oh by the way, the election is over so everyone can play nice for a while.
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