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Gm still is Government Motors
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<blockquote data-quote="Lue C Fur" data-source="post: 731167" data-attributes="member: 25159"><p><span style="color: blue">WASHINGTON (AP) -- The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009. </span><span style="color: red">Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.</span></p><p> </p><p><span style="color: blue">CEO Ed Whitacre has predicted a full-year profit as U.S. auto sales continue their slow recovery. That could lead to a public sale of GM's stock and<span style="color: red"> full repayment of the $50 billion in U.S. government aid that stopped GM from going under last year.</span> The<span style="color: red"> U.S. government now owns 61 percent</span> of the company.</span></p><p><span style="color: blue"><span style="color: red">The automaker has repaid a total of $6.7 million to the government from TARP funds.</span> </span><span style="color: red">The Obama administration hopes to get back the remaining $43 billion by selling its stake.</span></p><p><span style="color: blue"><span style="color: red">For taxpayers to break even</span> by selling the government's remaining investment, the total dollar value of GM's outstanding shares, or market capitalization, <span style="color: red">would have to reach about $70 billion after an IPO.</span> That's </span><span style="color: red">nearly double the size of Ford Motor Co.'s current market cap.</span></p><p><span style="color: #ff0000"> </span></p><p> <span style="color: #ff0000"></span></p><p><span style="color: #ff0000"><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /></span></p><p><span style="color: #ff0000"></span></p></blockquote><p></p>
[QUOTE="Lue C Fur, post: 731167, member: 25159"] [COLOR=blue]WASHINGTON (AP) -- The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009. [/COLOR][COLOR=red]Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.[/COLOR] [COLOR=blue]CEO Ed Whitacre has predicted a full-year profit as U.S. auto sales continue their slow recovery. That could lead to a public sale of GM's stock and[COLOR=red] full repayment of the $50 billion in U.S. government aid that stopped GM from going under last year.[/COLOR] The[COLOR=red] U.S. government now owns 61 percent[/COLOR] of the company.[/COLOR] [COLOR=blue][COLOR=red]The automaker has repaid a total of $6.7 million to the government from TARP funds.[/COLOR] [/COLOR][COLOR=red]The Obama administration hopes to get back the remaining $43 billion by selling its stake.[/COLOR] [COLOR=blue][COLOR=red]For taxpayers to break even[/COLOR] by selling the government's remaining investment, the total dollar value of GM's outstanding shares, or market capitalization, [COLOR=red]would have to reach about $70 billion after an IPO.[/COLOR] That's [/COLOR][COLOR=red]nearly double the size of Ford Motor Co.'s current market cap.[/COLOR] [COLOR=#ff0000] :thumbdown:thumbdown:thumbdown:thumbdown:thumbdown:thumbdown:thumbdown:thumbdown [/COLOR][COLOR=blue][/COLOR] [/QUOTE]
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