Assessing the bailouts

posted by
February 15, 2011
Liberty Unbound
by Bruce Ramsey  
Posted in Commentary

"As I write, the new GM has had three quarters in the black, the latest one earning five and a half cents of operating profit on each dollar of sales. That’s quite respectable. In November 2010, GM became a public company again with a stock offering. GM planned to offer the stock at $26 to $29, depending on the market, but demand was so strong that it sold the shares at $33; and as I write, the stock is trading above that. The stock offering reduced the Treasury’s stake in GM from 60.8% to one-third. If the US government can sell its remaining stock at $53, it will break even." (02/14/11)

http://libertyunbound.com/node/481  

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