Final Note

GM is no longer ‘Government Motors’

Kai Ryssdal Dec 9, 2013
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Final Note

GM is no longer ‘Government Motors’

Kai Ryssdal Dec 9, 2013
HTML EMBED:
COPY

This final note on the way out, in which we learn the federal government is officially out of the car business.

The Treasury Department sold what was left of its stake in General Motors today. That part of the auto bailout didn’t work out so well for taxpayers. We invested $49.5 billion four years ago.

As of today’s sale, we’ve gotten $39 billion out of it. $10.5 billion in red ink all told.

Or, if you want to break it down farther…

We lost about $10 million a day on the thing.

Saved a whole bunch of jobs, though.

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