Topic: Itay Michaeli
General Motors stake owned by the US treasury will be sold over the coming year, assuring a multibillion-dollar loss for the federal government. General Motors will buy back $5.5 billion in shares, and the Treasury will have to sell the rest of the stock at a high price in order to break even on the $50 billion bailout GM received.
Ford Motor Co. will reduce its debt by another $4 billion as it continues to show signs of strength.
06/30/2010 01:36 pm