The Homa Files

from the WSJ:

The Obama administration has put on hold plans to sell the rest of its stake in GM because the auto maker’s shares have slumped this year.

The U.S. Treasury aimed to sell more of its 26.5% stake in GM by August or September.

GM stock would need to hit $53 a share for the U.S government to break even on its $50 billion bailout of the auto maker.

At $30 a share, the U.S. would lose more than $10 billion on its $50 billion bailout of GM.

So far this year, GM stock is down 31%.

On Tuesday, GM stock closed at $25.54, up 97 cents.

OUCH !

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This entry was posted on August 10, 2011 at 6:45 am and is filed under Autos - Travel. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.