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Government divesting General Motors stock

A view of the General Motors headquarters at the Renaissance Center in Detroit, Michigan is seen in this file photograph taken August 25, 20
A view of the General Motors headquarters at the Renaissance Center in Detroit, Michigan is seen in this file photograph taken August 25, 20

WASHINGTON, DC (WKZO) -- The U.S. Treasury is selling off the final shares of stock in General Motors.  The sale of over 101-million shares began Thursday.

The U.S. government and taxpayers received over 912-million shares of the automaker in exchange for a 49.5-billion dollar bailout in 2008.  The remaining shares of the automaker have an estimated value of 3.7-billion dollars.

The Treasury has picked up the sale of GM stock since the first of the year and currently owns just seven-percent of the company that was dubbed "Government Motors" after the bailout.

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