General Motors is Head For Bankruptcy -- Again

Forbes ^ | 8/15/2012 | Louis Woodhill

[Harley]

President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized

[cynwoody]

You know, sources that fail to master English tend not to get too much credibility.

The title's correct on Forbes.

[cableguymn]

I bought ford in 2008 for right around a buck.. I still have the shares. I sure wish I had the big $$ to buy that day. 12 to 1 return on your money is nothing to laugh at.

[A.A. Cunningham]

bankruptcy

gm

[SaraJohnson]

I hope it’s dead. We can’t afford to prop it or any other crap corporation up anymore.

[martin_fierro]

My pie. Where it be?

[morphing libertarian]

nice return