Friday, September 24, 2010

Speaking of Automakers and Bailouts...

What an awful investment. Watchdog: Taxpayers won't be repaid until GM shares hit $133
The federal government would have to sell its General Motors stock for $133.78 a share -- or $40 more a share than the highest stock price the automaker ever achieved for its old stock -- in order for taxpayers to get back the money they sank into the automaker, a federal watchdog says.
Are you kidding me? $133 per share? GM closed at 75 cents today. I think it is going to be a bit of a stretch to imagine we will ever get any of that money back.

And no, I still won't buy a car from Government Motors.

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