News

No More Government Motors?

December 20, 2012



General Motors plans to buy 200-million shares of stock from the federal government for about $5.5 million. In addition, the U.S. Treasury plans to sell all of its remaining shares on the open market starting next year. By 2014, the government will of sold all of its stock in GM, which will fall about $21 billion short of repaying the taxpayer loan that saved the automaker. WDET's Pat Batcheller talked to GM's Greg Martin about the government's exit strategy. Click on the audio link above to hear the conversation.