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Nov 3, 2009 - Get Out And Vote!

How appropriate that on election we have a story about how the US Treasury is considering options for divesting itself of our stake in the auto industry. One of the options it is focuing on is on a series of public offering.

Taxpayers have sunk more than $50 billion in bailout and bankruptcy financing in GM and more than $14 billion in Chrysler this year.

About half of the debt was wiped out in bankruptcy at both companies.

The government received 9.85 percent equity in Chrysler, and 60.8 percent equity and $2.1 billion of preferred stock in GM, and $13.8 billion in debt obligations between the two companies.

Yep, that sure is an attractive IPO. I can't see anything wrong with this plan, can you? 

Read more at reuters.com

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Stocks of individual interest
Toyota  79.12  +0.87
GM        0.55    -0.07
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3:58 am | Categories: ar index, automotive news Permalink | Alert Administrator

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