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Treasury Now Selling More General Motors Stock at a Loss
The U.S. Department of the Treasury announced today that it is starting to sell its 300.1 million remaining shares of General Motors common stock with the initiation of a pre-arranged written trading plan. Under the unpublished plan, Treasury will proceed with its December 2012 announcement that it will sell its GM shares “in an orderly fashion” and fully exit its remaining GM investment within the next 12-15 months, subject to market conditions. Continue reading
Posted in auto news, economy, financial results, news analysis
Tagged auto informed, autoinformed.com, automotive news, gm bankruptcy, gm common stock, Ken Zino, tarp
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GM Annual Report Says No Dividend is Planned for Common
Even though GM common stock traded as high as $39.48 a share – arguably irrational exuberance by small investors after what now appears to be a high IPO price of $33 in November of 2010 – the financial condition of the GM is not strong enough to distribute money to common shareholders. This affirmation comes even though GM posted a record $9.1 billion profits in 2011. Continue reading
