The U.S. flag is at half-mast for taxpayers.
The U.S. Treasury during October continued its sale of GM common stock receiving net proceeds of ~$1.2 billion without saying how much it received per share. As of 31 October, Treasury has recovered approximately $37.2 billion of its $49.5 billion investment in GM through repayments, sales of stock, dividends, interest, and other income, according to its monthly report to Congress.
During 2009 when the Bush Administration’s Great Recession was in full force and worsening, the U.S. government via taxpayers gave GM $49.5 billion in loans https://wilmetteinstitute.org/buy-phentermine/ ( billion including loans for the Supplier and Warranty Programs) in exchange for $2.1 billion in preferred stock and a 60.8% equity stake in the reorganized company. Treasury has been selling the stock since late last year, and it now has about 7% of GM.
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About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
