So with the GM IPO

Alan · Nov 19, 2010

And we're STILL $9 Billion in the hole.:doh:

http://www.reuters.com/article...01118

Rueters said:

(Reuters) - General Motors Co may have the world's biggest initial public offering, but U.S. taxpayers were more than $9 billion underwater on the government-funded restructuring at its current share price on Thursday.

A breakdown of the paper loss follows.

* The U.S. Treasury loaned GM about $49.86 billion from late 2008 through 2009 to restructure the company and finance its move through bankruptcy and beyond.

* Before accounting for the Treasury proceeds from the IPO, GM had repaid about $9.74 billion to the government. Those repayments included unused loans, the purchase of Treasury preferred shares, and dividends and interest. That left taxpayers owed a little more than $40.1 billion.

* Including overallotments, Treasury will recover more than $13.6 billion by selling 412.3 million common shares, leaving taxpayers owed about $26.5 billion. Treasury would need to sell its remaining 500.1 million share-stake at an average price of about $53 for taxpayers to be repaid.

* With GM shares trading at $34.50 Thursday afternoon on the New York Stock Exchange, taxpayers were facing an $18.50 per-share deficit on their remaining stake, or about $9.25 billion.

SOURCES: Treasury public reports, GM SEC filings
Click to expand...

Droopy · Nov 19, 2010

This post is hidden to guests.
To view this post, please log in.
If you are not a member, you will need to sign up.

cd4th · Nov 19, 2010

This post is hidden to guests.
To view this post, please log in.
If you are not a member, you will need to sign up.

Just Piddling · Nov 19, 2010

This post is hidden to guests.
To view this post, please log in.
If you are not a member, you will need to sign up.

DIXIEDOG · Nov 19, 2010

This post is hidden to guests.
To view this post, please log in.
If you are not a member, you will need to sign up.

Alan · Nov 20, 2010

This post is hidden to guests.
To view this post, please log in.
If you are not a member, you will need to sign up.

Log in or Sign up

So with the GM IPO

Alan Proud Infidel

Droopy Well-Known Member

cd4th Shoot first, shoot again

Just Piddling .

DIXIEDOG Prostaff for Taylor worms

Alan Proud Infidel

Share This Page