InvestorsHub Logo
Followers 88
Posts 53011
Boards Moderated 0
Alias Born 04/13/2001

Re: None

Wednesday, 12/19/2012 10:39:01 AM

Wednesday, December 19, 2012 10:39:01 AM

Post# of 122337
The Treasury Department said on Wednesday that it planned to sell off its entire 32 percent stake in General Motors within 15 months, eliminating another reminder of the bailouts precipitated by the financial crash of 2008.

The news comes a week after the Obama administration completely sold off its entire holdings in the American International Group, one of the most controversial rescues of the market crisis.

According to a plan outlined on Wednesday, the Treasury Department will sell a little less than half of its stake, or 200 million shares, back to General Motors for $5.5 billion by year end. The purchase price of $27.50 is about 8 percent higher than the car maker’s closing price on Tuesday.
http://dealbook.nytimes.com/2012/12/19/treasury-to-sell-g-m-stake-within-15-months/?hp

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.