On Air Now

Listen

Listen Live Now » 94.1 FM Jackson, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
64° Feels Like: 64°
Wind: SSE 9 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Scattered Thunderstorms 78°

Tonight

Scattered Thunderstorms 68°

Tomorrow

Thunderstorms 84°

Alerts

U.S. Treasury speeds sales of General Motors stock


The General Motors world headquarters is seen in downtown Detroit, Michigan in this May 31, 2009 file photo. REUTERS/Rebecca Cook
The General Motors world headquarters is seen in downtown Detroit, Michigan in this May 31, 2009 file photo. REUTERS/Rebecca Cook

WASHINGTON, DC (WKZO) -- The U.S. Treasury department is reportedly accelerating its sell-off of stock in General Motors.

According to documents filed on Tuesday, the government has 101-million remaining shares of GM stock, which it intends to sell by March.  The taxpayers’ ownership stake in the Detroit automaker, which was once more than 60-percent, is now down to 7.3-percent.

The government’s sell-off has picked up as of late.  After selling an average of 19-million shares in the early part of the year, the government has sold more than 25-million shares since May.

Comments