On Air Now

Now Playing

Our Playlist »

Listen

Listen Live Now » 94.1 FM Jackson, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
81° Feels Like: 84°
Wind: WSW 12 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Thunderstorms Early 68°

Tomorrow

AM Clouds/PM Sun 81°

Sun Night

Mostly Clear 65°

Alerts

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.

Comments