Treasury could sell GM shares in summer or fall

[Viva_La_Revolution]

Source: Reuters

The Treasury could sell a big chunk of its remaining 33 percent stake in General Motors Co (GM.N) in the summer or fall, a person with knowledge of the matter said on Monday, although doing so may lead to more losses for it on the automaker's bailout.

No decision has been made yet on the exact timing or size of such a sale, two sources with knowledge of the matter said.

Sources have previously told Reuters that a follow-on share sale could be worth about $10 billion -- but since GM shares have dropped below their $33 IPO price, some have suggested that the sale could be smaller.

Read more: http://www.reuters.com/article/2011/04/19/us-gm-followon-idUSTRE73I0IE20110419?WT.tsrc=Social%20Media&WT.z_smid=twtr-reuters_%20com&WT.z_smid_dest=Twitter

[Aerows]

1. I said it a day before the IPO

and I'll say it again - anyone investing in GM made a bad decision. All the money was made in the market in the few days after IPO. Anyone still holding shares after that was left holding the bag. GM share prices would have to hit $53/share for the government to break even on that deal. The momentum to fuel buying is long gone, and frankly, share prices have nowhere to go but down.

[SlimJimmy]

2. Agreed. And since the original IPO was only offered to certain

"investors" like Chase and Wells Fargo, who will gladly sell their shares for a profit, the game was rigged from the beginning.