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Government Motors: GM Stock Hits New Low, Taxpayer Loss Hits $35 Billion

Investors.com -- General Motors (GM) shares closed down 1.5% to 19.02 on Monday, hitting 18.85 intraday. That's the lowest since the U.S. auto giant came public again in November 2010 at 33 a share.

That raises the taxpayer loss on the GM bailout to just shy of $35 billion. Here's the math:

GM doesn't have to pay back anything else, but taxpayers are still out $26.4 billion in direct aid. The Treasury still owns 26.5% of GM — 500 million shares. The stock would have to rise to about 53 to break-even on that direct aid. At the current price, the Treasury's stake is worth just $9.51 billion. (Taxpayers lose $5 million for each penny that GM stock falls).

That would leave taxpayers out $16.9 billion. But the true cost is much higher.

President Obama let GM keep $45 billion worth in past losses...


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Submitted Jul 25, 2012 By: Packrsbeatdabrs
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Government Motors: GM Stock Hits New Low, Taxpayer Loss Hits $35 Billion Back to Topics
REPLIES (newest first) Post a Reply
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RONALD777
Champion Author Houston

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Message Posted: Jul 27, 2012 3:43:05 PM

Thank you Obama.
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markbaily
Champion Author Vancouver

Posts:3,741
Points:675,185
Joined:Mar 2012
Message Posted: Jul 27, 2012 10:39:41 AM

Typical US government. You guys should all come live in Canada.
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gas_too_high
Champion Author Columbus

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Message Posted: Jul 26, 2012 7:00:25 AM

Had GM been allowed to go into Chapter 7 bankruptcy, most of its plants would have been bought up by other makers, who would have reemployed most of its workers.

But the expensive UAW contracts would have been nullified. Even if the plants recertified with the UAW, negotiations would have started from scratch.

The Obama bailout of GM (and Chrysler) was really a gift to the UAW, and an unfair one. Besides letting them keep some portion of their lavish contracts, other creditors, like bondholders, were stiffed.

GTH
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rahcat
Champion Author Grand Rapids

Posts:4,320
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Message Posted: Jul 25, 2012 11:05:38 PM

Bailouts don't work. Should have let them go belly up. Thanks Mr. President. Maybe it's time for you to into forced retirement.
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nru
Champion Author Twin Cities

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Message Posted: Jul 25, 2012 11:04:03 PM

So let's just let the auto industry go the way of the dinosaurs and buy everything from CHINA - they could supply us with cars cheaper, and then after that we could buy our military hardware from them for cheap too - what a great country. Pocketbook, party, country - oh wait, that's not my oath - something about God, corps, country.... oh well, let's go to Wal Mart for some more Chinese stuff - cheaper than American - commies are great!!!
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Dodge_Me
Champion Author Atlanta

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Message Posted: Jul 25, 2012 11:02:41 PM

Thats not good, the volt did it. :-)
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umitb
Champion Author Indianapolis

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Message Posted: Jul 25, 2012 10:59:20 PM

ok
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ty58
Veteran Author Akron

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Message Posted: Jul 25, 2012 10:58:58 PM

it'll go back up
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srchr
Champion Author San Jose

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Message Posted: Jul 25, 2012 10:57:19 PM

pure politix - courting the union vote
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aggietim
Champion Author Fort Worth

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Message Posted: Jul 25, 2012 10:55:31 PM

not good
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Shakleelady31
All-Star Author Fort Wayne

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Message Posted: Jul 25, 2012 10:55:07 PM

Interesting.
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TFowler513
Champion Author Memphis

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Message Posted: Jul 25, 2012 10:50:44 PM

More money down the tubes!!!
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GAS1251
Champion Author Texas

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Message Posted: Jul 25, 2012 10:45:17 PM

Lopks like Government motors is still a loser.
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jessek
Champion Author Detroit

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Message Posted: Jul 25, 2012 10:42:53 PM

We knew that
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jlisk1970_us
Champion Author St. Louis

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Message Posted: Jul 25, 2012 10:41:29 PM

Check out the dealerships. They won't sell the vehicles unless they are going to get plenty for it.
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DrLyon
Champion Author Michigan

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Message Posted: Jul 25, 2012 10:36:41 PM

What's up....
GM is building better cars...
Come on stock market...
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TxPDawg
Champion Author Austin

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Message Posted: Jul 25, 2012 10:34:25 PM

9.51 Billion dollars, that's billion with a B.. Now that's a lot of money. Send me some!!
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Jeeputtputt
Champion Author Ohio

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Message Posted: Jul 25, 2012 10:32:39 PM

control freak vehicles = junk & high costs!!
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Beaveronparade
Champion Author Hartford

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Message Posted: Jul 25, 2012 10:31:46 PM

That's why so many people say, "No bailouts"!
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saleboss
Champion Author Phoenix

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Message Posted: Jul 25, 2012 10:27:47 PM

I think we should let them go under for good this time!
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Jeannemarie
Champion Author Las Vegas

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Message Posted: Jul 25, 2012 10:26:35 PM

I really think they had no intention of paying anything back, just to keep their fat checks coming in.
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Vette1967
Champion Author Albany

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Message Posted: Jul 25, 2012 10:26:08 PM

Where did all that money go??
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bigdipperMS
Champion Author Mississippi

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Message Posted: Jul 25, 2012 10:25:12 PM

Another wonderful deal struck by Obomanation. Fire him in November!!!
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mstearno
Champion Author Dayton

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Message Posted: Jul 25, 2012 10:24:52 PM

very good
the original stock holders were run over by OBAMA
the new one deserve the same
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Jul 25, 2012 10:21:15 PM

Not good.
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abcdMA
Champion Author Worcester

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Message Posted: Jul 25, 2012 10:18:21 PM

and based on the "approved" account methods that are now employed at GM, exect a cash flow crisis and another bankruptcy filing in the relatively near future.
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Tekkersmom57
Champion Author Syracuse

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Message Posted: Jul 25, 2012 10:17:27 PM

I don't understand how the CEOs and Executives at GM can possibly continue to receive the exorbitant amount of bonuses they had in the past. It just doesn't seem right that we, the American people bail them out and then pat them on the back and say....good job, here's a bonus!
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Jul 25, 2012 10:15:42 PM

Great post by mcmonsta!!!!!
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BoerneWatch
Champion Author San Antonio

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Message Posted: Jul 25, 2012 10:14:39 PM

Hold on there cowboys.

Our President is touting how good a job he did investing our money in GM.

The president of GM came on TV to tell us that they were now profitable.

So how could the loss now hit $35,000,000,000.00?
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petrpuck
All-Star Author Hamilton

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Message Posted: Jul 25, 2012 10:13:14 PM

oh oh
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Bonito
Champion Author Dayton

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Message Posted: Jul 25, 2012 10:13:07 PM

Though this was political! I get enough of this crap on TV!
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naiiawah
Champion Author Boise

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Message Posted: Jul 25, 2012 10:12:24 PM

Doh!
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DEG
Champion Author Las Vegas

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Message Posted: Jul 25, 2012 10:11:51 PM

Obama touts the bailout of GM; yet we taxpayers are continuing to pay for this poor decision.
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itsjustme719
Champion Author Hamilton

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Message Posted: Jul 25, 2012 10:08:25 PM

Time to fire some of the upper management!
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mcmonsta
Champion Author Honolulu

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Message Posted: Jul 25, 2012 10:06:27 PM

make their executives pay it back with their cars houses investments...aren't they the ones who got GM there in the first place..or is there no blame any more!!!
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Palantas
All-Star Author Indianapolis

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Message Posted: Jul 25, 2012 10:06:23 PM

Too bad. Seems they're making decent cars these days.
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Cuzilla
Champion Author Indianapolis

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Message Posted: Jul 25, 2012 10:04:07 PM

I hope they collapse and take the UAW with them!
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Bildawg
Champion Author Ohio

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Message Posted: Jul 25, 2012 10:02:58 PM

blaa blaa
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serrog
Champion Author Nova Scotia

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Message Posted: Jul 25, 2012 10:02:40 PM

Still make a good car
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letmathe
Champion Author Chicago

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Message Posted: Jul 25, 2012 10:02:35 PM

Focus2 ... thanks for the clarification.
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Focus2
Champion Author Illinois

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Message Posted: Jul 25, 2012 10:00:15 PM

Bonanza said, Ford is the only American auto maker that did not take taxpayer money

That is not true, as they also accepted a government loan.
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GassyKat
Champion Author Wisconsin

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Message Posted: Jul 25, 2012 9:58:49 PM

sigh
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carloco75
Champion Author Richmond

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Message Posted: Jul 25, 2012 9:58:06 PM

Ouch...
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iceman11
Champion Author Ontario

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Message Posted: Jul 25, 2012 9:56:36 PM

Crazy
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cokezero
All-Star Author Philadelphia

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Message Posted: Jul 25, 2012 9:55:53 PM

ok
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KhelbenArunson
Champion Author Michigan

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Message Posted: Jul 25, 2012 9:54:23 PM

Hmmm
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mitchell6597
Champion Author New Hampshire

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Message Posted: Jul 25, 2012 9:54:03 PM

Um, I bought a Toyota.....
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seeyardee
Champion Author Sacramento

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Message Posted: Jul 25, 2012 9:53:03 PM

Don't feel bad for the stock market investors. They've been making money for years. And what's $35 billion? One day of war?
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CapNC
Champion Author North Carolina

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Message Posted: Jul 25, 2012 9:52:18 PM

If I buy a new car it will be a Ford, took it like a man - didn't bend over for the nut in washington
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aalix
Champion Author Orange County

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Message Posted: Jul 25, 2012 9:50:23 PM

GM still a drain to taxpayers.
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