The government refused to let go of GM.

Alan · Sep 18, 2012

http://www.marketwatch.com/story/general-motors-pushing-us-to-sell-stake-report-2012-09-17

CHICAGO (MarketWatch) -- The Treasury Department is resisting General Motors' push for the government to sell off its stake in the automobile maker, The Wall Street Journal reports. Following a $50 billion bailout in 2009, the U.S. taxpayers now own almost 27% of the company. But the newspaper said GM executives are now chafing at that, saying it hurts the company's reputation and its ability to attract top talent due to pay restrictions. Earlier this year, GM GM -1.41% presented a plan to repurchase 200 million of the 500 million shares the U.S. holds with the balance being sold via a public offering. But officials at the Treasury Department were not interested, as selling now would lead to a multibillion-dollar loss for the government, the newspaper noted.
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The loss of cash? I'm willing to bet it's also the loss of power.

And GM can't hire the best because they can't pay as well as the other companies? Go figure. Just another sign our government is clueless.:head_on_wall:

n2ratfishin · Sep 18, 2012

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ACBass · Sep 18, 2012

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Alan · Sep 18, 2012

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ACBass · Sep 18, 2012

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Alan · Sep 18, 2012

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Hunt22-250 · Sep 18, 2012

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ACBass · Sep 18, 2012

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The government refused to let go of GM.

Alan Proud Infidel

n2ratfishin Well-Known Member

ACBass Well-Known Member

Alan Proud Infidel

ACBass Well-Known Member

Alan Proud Infidel

Hunt22-250 Scuba Steve

ACBass Well-Known Member

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