But the Administration is refusing GM's stock buyback because it would mean losing billions of dollars on this "investment." The auto maker's shares are trading around $24, which is not merely a tumble from the November 2010 IPO price of $33 but means the government would lose $15 billion if it sold today.
GM's share price needs to hit $53 for the U.S. to break even.
Tuesday, September 18, 2012
The US Bailout Investment In GM Lost $15 Billion On A Market Value Basis
From The Wall Street Journal, "Treasury Motors: If GM is 'roaring back,' why won't Obama sell our shares?"
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