Gov't needs $133.78 a share to recover GM money - Yahoo! Finance The above isn't new but at least the press is picking up on this again. Maybe more people will realize that GM's statements in their ads awhile ago under Whitacre were extremely deceptive. There was also GM bailout payback to take several years: CEO - Yahoo! News which is again not new news. I wonder why watchdog groups and competitors don't run attack ads against GM to dispel the the misleading message "We have repaid our government loans in full — with interest — five years ahead of the original schedule."
The Securities & Exchange Commission (SEC) contemplated litigating because of GM's false and misleading advertising for a short time. SEC doesen't cotten to lies that cause stock purchasers to rely on the false story. Problem is, GM's a U.S. gvt owned business now. So one Federal branch would in essence be suing the other. Yes, that can be done, but when the bottom line requires the dust to settle quick, and for GM to get out from under at all cost, it would never come to pass.
Not to defend GM, but wasn't the 50 Billion for all automakers (including energy efficiency loans/grants and such)? And, the stocks owned by the government are paying dividends, are they not. *edit*. Seems about 700 million paid in interest and dividends so far. Truth cuts both ways. Before I get ticked at GM (again), I'd like to see the accurate numbers. *also: the number calculated is only considering the common shares. As I read it if the government sold their preferred shares the dollar amount would be less. However, I still don't believe the government will recoup the full cost. Just not miss it by as much as the post/article implies.
the accurate numbers are not pretty Is now the time to Buy GM Stock? GM leadership and the Titanic have things in common. .
