Once GM buys its 200 million shares, the taxpayer stake in the company will drop to 19 percent, but for the price to break even on the remaining 300 million shares will be around $70 per???or, in other words, probably never.

You may recall that during the presidential election, the Treasury Department refused requests by General Motors to unload the government’s stake in the giant automaker. Taxpayers had sunk $50 billion into a union bailout in 2009 and were now proud owners of 26.5 percent of the struggling company. Reportedly, GM had growing concerns that the … Continue reading The Auto Bailout Failure Is Now Complete