Quote:
Originally Posted by URY914
So when do "we the people" sell it to someone else?
Think we''ll make money on the sale?
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WSJ had several pages on the GM filing today. US government owns 60%, Canada 12% IIRC.
Gov't will put in something on the order of $50 BILLION. For gov't stake to be worth anything, enterprise will have to be worth something on the order of $80BN in order for the taxpayer to breakeven on our 60% stake. GM's market capitalization at its recent peak in 2000 was only $56 BN.
In other words, we won't likely make a penny on this; quite the opposite. Its solely a way to buy votes - to the tune of $50BN. And I'm not done ranting about this.