What a genius! “GM continues to hemorrhage market share and controls just 17.7 percent of the auto market, a 90-year low. When GM made a public offering in November 2010, the share price was $33 a share. It’s now trading at around $25 a share. The federal government owns 500 million shares of GM, or about 32 percent of the company. The stock price would need to get to $53 a share to break even. At its current market price, the government is sitting on a $14.5 billion loss.”
Read more: SCHWEIZER: Auto bailouts bleeding more taxpayer cash – Washington Times http://www.washingtontimes.com/news/2012/nov/2/auto-bailouts-bleeding-more-taxpayer-cash/#ixzz2BO9IS1L2
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