U.S. To Sell Remaining Shares In General Motors This Year

There will be a $10 billion loss, but tens of thousands of saved jobs, and a profitable company.

The earlier-than-expected exit – the government previously predicted April 2014 – frees GM next year from compensation limits on its top executives, a Treasury-imposed condition that CEO Dan Akerson has said makes it harder to recruit new executives and to retain others. How this might affect current salaries, the make-up of the executive ranks or CEO succession planning remains to be seen.

In all, taxpayers lent $49.5 billion to GM and as of Thursday had recouped $38.4 billion. If GM’s stock stayed at its Thursday close of $38.12 for the rest of the year, the Treasury would recoup another $1.2 billion.

By: Alan

Alan Colmes is the publisher of Liberaland.