Treasury sells almost 1x3 of remaining GM stock

When we last checked the status of the federal government's stake in General Motors in September, it owned about 7.3 percent - roughly 101-million shares worth about $3.7 billion - of the automaker. In October, the Fed sold almost a third of its remaining stake, or 29- to 30-million shares valued at about $1.2 billion, The Detroit News reports. Currently the government owns around 71-million shares. Before the latest sale, the Treasury had recorded a loss of about $9.7 billion on 811 million of the 912-million shares it bought from GM as part of the company's 2009 bailout.

Autoblog , Treasury sells almost 1x3 of remaining GM stock, Treasury sells almost 1x3 of remaining GM stock