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Federal Government Reduces Stake in General Motors to 7.3%

Federal Government Reduces Stake in General Motors to 7.3%

Sep 19 2013, 1:30pm CDT | by

, US government sells off more GM stock

The United States treasury has recently sold another block of stock shares it owns in General Motors. This is part of the stock that the federal government purchased when it bailed GM out during the...

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49 weeks ago

Federal Government Reduces Stake in General Motors to 7.3%

Sep 19 2013, 1:30pm CDT | by

, US government sells off more GM stock

The United States treasury has recently sold another block of stock shares it owns in General Motors. This is part of the stock that the federal government purchased when it bailed GM out during the financial crisis a few years ago. With the latest selloff of GM stock, the government has reduced its stake in the company to 7.3%.

The U.S. Treasury sold more than 110 million shares between may six and September 13. The selloff of stock raised over $3.82 billion. After the selloff, the federal government owns 101 million shares of stock.

The US government took a 60.8% stake in GM for $49.5 billion when the government bailed out the company in 2009. The government has recovered about $35.4 billion the investment so far.

 
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1 day ago

2015 GMC Yukon XL Denali Long-Term Intro: It’s Mega Supreme

Aug 28 2014 5:49pm CDT | Source: Car and Driver

Astute marketing by GM has split the fraternal truck twins Chevrolet and GMC into different market segments, at least in the typical consumer’s mind. In the full-size-SUV category, an invisible wall stands between the value-conscious Chevy Tahoe and Suburban and the better-dressed GM ...
Source: Car and Driver   Full article at: Car and Driver
 

 
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1 day ago

Chevy announces new Z71 package for Tahoe and Suburban

Aug 28 2014 5:38pm CDT | Source: Autoblog

Filed under: SUV, Chevrolet After what we're guessing was an unintentional leak via a press photo, Chevrolet has confirmed that it will be offering its long-lived Z71 trim on both the 2015 Tahoe and Suburban. The company wouldn't offer any additional details on what the packages would add to the full-size, body-on-frame SUVs, instead indicating that a more formal announcement that would be made in late September. The Z71 trim is current ...
Source: Autoblog   Full article at: Autoblog
 

 
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1 day ago

Watch This Unstoppable Beater Truck Make A Flood Its Bitch

Aug 28 2014 4:51pm CDT | Source: Jalopnik

Parts of Colorado were besieged by biblical flood waters in September of 2013. Some how, some way, this old GM made from parts of what looks like at least four different pickups picks the perfect line from one safe spot to another. It's downright inspiring to ...
Source: Jalopnik   Full article at: Jalopnik
 

 
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1 day ago

Ram Heavy Duty

Aug 28 2014 11:00am CDT | Source: Top Speed

The Ram Heavy Duty has been around since 1981 when Dodge introduced the three-quarter and one-ton trucks. The Ram was available with an innovative, 5.9-liter, Cummins turbo-diesel, something GM and Ford trucks couldn’t boast. The old Cummins turbo-diesel saw Ram Heavy Duty sales grow, thanks to its direct-injection fuel system, turbocharger, and greater power outputs than the competition.Four generations of trucks later, the Ram Heavy Duty is still powering ahead o ...
Source: Top Speed   Full article at: Top Speed
 

 
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1 day ago

Suzuki Recall, Car Health Tracker, 2015 Mustang Production: What’s New @ The Car Connection

Aug 28 2014 9:30am CDT | Source: The Car Connection

From The Car Connection: 2010-2013 Suzuki Kizashi Recalled For Spiders (It's A Trend) 2014 may be remembered as the Year of the Recall. GM's "Switchgate" fiasco kicked things off, affecting millions of vehicles in the U.S. and abroad. Other automakers followed suit. Kickstarter Of The Day: FIXD, A Health Tracker For Your C ...
Source: The Car Connection   Full article at: The Car Connection
 

 
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1 day ago

GM will relocate next-gen Cadillac SRX production to U.S.

Aug 28 2014 9:19am CDT | Source: Driving Canada

GM has announced it will move production of the next-generation Cadillac SRX from its current Mexico plant to one in Tennessee. Formerly a Saturn plant, it’s located in Spring Hill, nearly 100 miles east of Volkswagen’s facility in Chattanooga. GM is currently in the retooling process before production of the next-generation SRX kicks off. In addition to the SRX, GM will build its new family of Ecotec en ...
Source: Driving Canada   Full article at: Driving Canada
 

 
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1 day ago

Ford officially kicks off 2015 Mustang production

Aug 28 2014 8:21am CDT | Source: Driving Canada

Ford begins building the sixth generation of its 50-year-old Mustang sports car today at a Michigan plant that will export it to more than 120 countries. For the first time, a right-hand-drive version will be made, for sale in more than 25 markets such as the U.K., Australia and South Africa, the Dearborn, Michigan-based automaker said in a statement. The 2015 Mustang starts at $24,425, a 4.7 percent increase from this year’s base model. Ford wants to ...
Source: Driving Canada   Full article at: Driving Canada
 

 
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2 days ago

Buick Envision spied fully disrobed in China

Aug 27 2014 5:34pm CDT | Source: Autoblog

Filed under: Spy Photos, China, Crossover, Buick, Design/Style The Buick Envision crossover is supposed to have its big reveal on August 28 and be on display at the Chengdu Motor Show, but apparently the new midsize crossover just can't wait to meet its public. Car News China caught a completely undisguised example parking outside of the convention center where the show is held. The Buick designers are going right down the middle with the styling with nothi ...
Source: Autoblog   Full article at: Autoblog
 

 
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2 days ago

Connected Utility Vehicles: Chevy Adds Wireless Charging, 4G LTE to Suburban and Tahoe

Aug 27 2014 4:03pm CDT | Source: Car and Driver

The 2015 Tahoe gets some techy new options this fall. A burbdozer with a V-8 may not be the predominant family vehicle of choice anymore, but Chevrolet still makes a heavy margin on its Tahoe and Suburban SUVs. As such, it behooves GM to keep refining the tech plowed into what’s fundamentally a mid-twentieth-century design. The latest additions to the stalwart duo? OnStar with 4G LTE connectivity, plus wireless mobile-phone charging ...
Source: Car and Driver   Full article at: Car and Driver
 

 
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2 days ago

Cadillac to Debut the ATS-V Sedan at the LA Auto Show

Aug 27 2014 2:00pm CDT | Source: Top Speed

The ATS-V is one of the more-anticipated Caddys since the completely redesigned CTS made itself seen at the 2013 New York Auto Show. It’s not too hard to predict what this M3/M4 fighter will bring to the party, but there is still a slight debate on what will power it. Essentially everyone agrees that the ATS-V will use the 3.6-liter, twin-boosted V-6 that we all fell in love with in the CTS Vsport, but there is some dis ...
Source: Top Speed   Full article at: Top Speed
 

 

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Shane is a self described car aficionado. He loves muscle cars, but also knows how green cars work. He has years of experience in testing cars and writes about cars with deeply felt emotions.

 

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