Taxpayers are expected to lose $10 billion on the GM bailout, as the Treasury Department begins to sell off its remaining 101.3 million shares.
General Motors (GM) employees have reportedly flooded the comments sections of car blogs to boost the company’s reputation, according to a report.
The Treasury Department announced the sale of $811 million worth of General Motors (GM) stock in August, while the Canadian government shed 30 million shares in September.
The government retains an estimated 186 million shares of GM stock, according to the Associated Press. Those remaining shares are only worth $6.77 billion at GM’s current $36.40 stock value, less than half of what is needed to cover the $14.1 billion the company owes the United States.
One of GM’s foreign subsidiaries received a $275 million bailout from Australian taxpayers to keep its operations afloat and is reportedly seeking an additional $265 million from local and federal authorities.
A conservative think tank that the Center for American Progress has accused of being a corporate shill slammed the liberal behemoth for its reported hypocrisy.
A liberal think tank with close ties to the Obama administration took money from General Motors and other businesses without disclosing that fact as it publicly campaigned for policies benefitting those companies.
Former Montana Gov. Brian Schweitzer won a seat on the board of a major mining company on May 2 and will now benefit from a deal he brokered on behalf of the company as the state’s Democratic governor.
GM is recalling 38,197 2012 and 2013 model cars with eAssist hybrid powertrains, the Wall Street Journal reports.
The Treasury will begin another round of sales for General Motor stock acquired during the government’s bailout of the auto sector, the department said on Monday.
A trade agreement that has garnered broad support from a diverse array of organizations in the United States has drawn staunch opposition from labor unions and congressional Democrats.