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Wed., 9:23am: Government will lose big on GM bailout

July 24, 2013
Tribune Chronicle | TribToday.com

DETROIT -- General Motors stock would have to sell for $95.51 per share for taxpayers to break even on bailing out the company, according to a government watchdog's report released Wednesday.

That price is about three times what GM shares are selling for now, even after a 25 percent increase in the price so far this year.

"There's no question that Treasury, the taxpayers, are going to lose money on the GM investment," Special Inspector General Christy Romero, author of the July quarterly report to Congress, said in an interview.

 
 

 

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