Did GM pay back the bailout money?
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Did GM pay back the bailout money?
In total, GM received $52 billion from the U.S. government, but only $6.7 billion of this amount was considered a loan. The company already paid back $2 billion, so this $4.7 billion is the last payment.
How much was given to GM in the bailout?
The U.S. bailout of GM and Chrysler, which received about $12.5 billion, saved 1.5 million jobs in the United States, according to the Center for Automotive Research.
How many jobs were saved by the GM bailout?
In a new report released Monday, the Center for Automotive Research (CAR) reckons that the federal government bailout of General Motors Co. (NYSE: GM) saved 1.2 million U.S. jobs and preserved $34.9 billion in personal income and social insurance (Social Security, Medicare) payments.
What happened to GM stock after bailout?
WASHINGTON — The federal government on Monday sold its remaining shares of General Motors Co. stock, ending the controversial $49.5-billion bailout of the automaker with an approximately $10.5-billion loss for taxpayers.
How much does General Motors still owe the government?
GM: repaid $23.1 billion of the $49.5 billion it got from the U.S. Treasury, including all of its outstanding loans. But Treasury still owns 500 million shares, or 32%, of GM stock.
What percentage of GM does China own?
SAIC-GM
| Type | Joint Venture |
|---|---|
| Headquarters | Shanghai , China |
| Area served | China |
| Products | Automobiles |
| Owner | SAIC Motor (50%) General Motors (50%) |
Did GM stock become worthless?
The old GM stock stopped trading on the New York Stock Exchange on June 1, 2009, the day that GM filed for bankruptcy. Each share of GM stock became a share in Motors Liquidation. While it was widely reported that the shares were worthless, those shares still traded, then and now, over the counter.
What happened to GM stockholders in 2009?
Isn’t it? The old GM stock stopped trading on the New York Stock Exchange on June 1, 2009, the day that GM filed for bankruptcy. Each share of GM stock became a share in Motors Liquidation. While it was widely reported that the shares were worthless, those shares still traded, then and now, over the counter.
Does the government still own GM?
U.S. taxpayers no longer own any of automaker General Motors. The Treasury sold the last of its remaining 31.1 million GM shares today. It started with 500 million shares in 2010. The taxpayer loss on the GM bailout is $10.5 billion.
