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Government Motors: GM Stock Hits New Low, Taxpayer Loss Hits $35 Billion

Investors.com -- General Motors (GM) shares closed down 1.5% to 19.02 on Monday, hitting 18.85 intraday. That's the lowest since the U.S. auto giant came public again in November 2010 at 33 a share.

That raises the taxpayer loss on the GM bailout to just shy of $35 billion. Here's the math:

GM doesn't have to pay back anything else, but taxpayers are still out $26.4 billion in direct aid. The Treasury still owns 26.5% of GM — 500 million shares. The stock would have to rise to about 53 to break-even on that direct aid. At the current price, the Treasury's stake is worth just $9.51 billion. (Taxpayers lose $5 million for each penny that GM stock falls).

That would leave taxpayers out $16.9 billion. But the true cost is much higher.

President Obama let GM keep $45 billion worth in past losses...

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Submitted Jul 25, 2012 By: Packrsbeatdabrs

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RONALD777 Champion Author Houston Posts:2,412 Points:358,755 Joined:Nov 2007	Message Posted: Jul 27, 2012 1:43:05 PM Ignore RONALD777 Report Abuse Thank you Obama.
markbaily Champion Author Vancouver Posts:2,918 Points:382,510 Joined:Mar 2012	Message Posted: Jul 27, 2012 8:39:41 AM Ignore markbaily Report Abuse Typical US government. You guys should all come live in Canada.
gas_too_high Champion Author Columbus Posts:11,516 Points:1,928,465 Joined:Aug 2005	Message Posted: Jul 26, 2012 5:00:25 AM Ignore gas_too_high Report Abuse Had GM been allowed to go into Chapter 7 bankruptcy, most of its plants would have been bought up by other makers, who would have reemployed most of its workers. But the expensive UAW contracts would have been nullified. Even if the plants recertified with the UAW, negotiations would have started from scratch. The Obama bailout of GM (and Chrysler) was really a gift to the UAW, and an unfair one. Besides letting them keep some portion of their lavish contracts, other creditors, like bondholders, were stiffed. GTH
rahcat Champion Author Grand Rapids Posts:2,448 Points:658,200 Joined:Jan 2010	Message Posted: Jul 25, 2012 9:05:38 PM Ignore rahcat Report Abuse Bailouts don't work. Should have let them go belly up. Thanks Mr. President. Maybe it's time for you to into forced retirement.
nru Champion Author Twin Cities Posts:1,714 Points:978,700 Joined:Feb 2006	Message Posted: Jul 25, 2012 9:04:03 PM Ignore nru Report Abuse So let's just let the auto industry go the way of the dinosaurs and buy everything from CHINA - they could supply us with cars cheaper, and then after that we could buy our military hardware from them for cheap too - what a great country. Pocketbook, party, country - oh wait, that's not my oath - something about God, corps, country.... oh well, let's go to Wal Mart for some more Chinese stuff - cheaper than American - commies are great!!!
Dodge_Me Champion Author Atlanta Posts:2,214 Points:552,480 Joined:Mar 2006	Message Posted: Jul 25, 2012 9:02:41 PM Ignore Dodge_Me Report Abuse Thats not good, the volt did it. :-)
umitb Champion Author Indianapolis Posts:3,653 Points:839,440 Joined:Apr 2010	Message Posted: Jul 25, 2012 8:59:20 PM Ignore umitb Report Abuse ok
ty58 Veteran Author Akron Posts:320 Points:480,780 Joined:Jun 2011	Message Posted: Jul 25, 2012 8:58:58 PM Ignore ty58 Report Abuse it'll go back up
srchr Champion Author San Jose Posts:7,228 Points:1,615,075 Joined:Apr 2008	Message Posted: Jul 25, 2012 8:57:19 PM Ignore srchr Report Abuse pure politix - courting the union vote
aggietim Champion Author Fort Worth Posts:1,746 Points:690,375 Joined:Oct 2008	Message Posted: Jul 25, 2012 8:55:31 PM Ignore aggietim Report Abuse not good
Shakleelady31 All-Star Author Fort Wayne Posts:571 Points:397,850 Joined:Jan 2012	Message Posted: Jul 25, 2012 8:55:07 PM Ignore Shakleelady31 Report Abuse Interesting.
TFowler513 Champion Author Memphis Posts:3,824 Points:1,409,635 Joined:Mar 2008	Message Posted: Jul 25, 2012 8:50:44 PM Ignore TFowler513 Report Abuse More money down the tubes!!!
GAS1251 Champion Author Texas Posts:5,128 Points:1,622,230 Joined:Jun 2008	Message Posted: Jul 25, 2012 8:45:17 PM Ignore GAS1251 Report Abuse Lopks like Government motors is still a loser.
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Jul 25, 2012 8:42:53 PM Ignore jessek Report Abuse We knew that
jlisk1970_us Sophomore Author St. Louis Posts:233 Points:94,930 Joined:Feb 2012	Message Posted: Jul 25, 2012 8:41:29 PM Ignore jlisk1970_us Report Abuse Check out the dealerships. They won't sell the vehicles unless they are going to get plenty for it.
DrLyon Champion Author Michigan Posts:6,630 Points:1,207,230 Joined:May 2006	Message Posted: Jul 25, 2012 8:36:41 PM Ignore DrLyon Report Abuse What's up.... GM is building better cars... Come on stock market...
TxPDawg All-Star Author Austin Posts:648 Points:375,840 Joined:Mar 2011	Message Posted: Jul 25, 2012 8:34:25 PM Ignore TxPDawg Report Abuse 9.51 Billion dollars, that's billion with a B.. Now that's a lot of money. Send me some!!
Jeeputtputt Champion Author Ohio Posts:3,002 Points:677,465 Joined:Aug 2009	Message Posted: Jul 25, 2012 8:32:39 PM Ignore Jeeputtputt Report Abuse control freak vehicles = junk & high costs!!
Beaveronparade Champion Author Hartford Posts:2,096 Points:631,395 Joined:Mar 2011	Message Posted: Jul 25, 2012 8:31:46 PM Ignore Beaveronparade Report Abuse That's why so many people say, "No bailouts"!
saleboss Champion Author Phoenix Posts:3,924 Points:1,176,800 Joined:Feb 2006	Message Posted: Jul 25, 2012 8:27:47 PM Ignore saleboss Report Abuse I think we should let them go under for good this time!
Jeannemarie Champion Author Las Vegas Posts:27,700 Points:2,035,640 Joined:Aug 2005	Message Posted: Jul 25, 2012 8:26:35 PM Ignore Jeannemarie Report Abuse I really think they had no intention of paying anything back, just to keep their fat checks coming in.
Vette1967 Champion Author Albany Posts:5,947 Points:1,272,000 Joined:Jun 2009	Message Posted: Jul 25, 2012 8:26:08 PM Ignore Vette1967 Report Abuse Where did all that money go??
bigdipperMS Champion Author Mississippi Posts:1,502 Points:533,975 Joined:Apr 2011	Message Posted: Jul 25, 2012 8:25:12 PM Ignore bigdipperMS Report Abuse Another wonderful deal struck by Obomanation. Fire him in November!!!
mstearno Champion Author Dayton Posts:8,043 Points:1,727,235 Joined:Jan 2008	Message Posted: Jul 25, 2012 8:24:52 PM Ignore mstearno Report Abuse very good the original stock holders were run over by OBAMA the new one deserve the same
WIPACKERFAN Champion Author Chicago Posts:8,779 Points:1,838,475 Joined:Aug 2005	Message Posted: Jul 25, 2012 8:21:15 PM Ignore WIPACKERFAN Report Abuse Not good.
abcdMA Champion Author Worcester Posts:7,902 Points:1,570,980 Joined:Nov 2008	Message Posted: Jul 25, 2012 8:18:21 PM Ignore abcdMA Report Abuse and based on the "approved" account methods that are now employed at GM, exect a cash flow crisis and another bankruptcy filing in the relatively near future.
Tekkersmom57 Champion Author Syracuse Posts:1,854 Points:696,665 Joined:May 2010	Message Posted: Jul 25, 2012 8:17:27 PM Ignore Tekkersmom57 Report Abuse I don't understand how the CEOs and Executives at GM can possibly continue to receive the exorbitant amount of bonuses they had in the past. It just doesn't seem right that we, the American people bail them out and then pat them on the back and say....good job, here's a bonus!
SparkieMi Champion Author Kalamazoo Posts:3,239 Points:584,220 Joined:Sep 2011	Message Posted: Jul 25, 2012 8:15:42 PM Ignore SparkieMi Report Abuse Great post by mcmonsta!!!!!
BoerneWatch Champion Author San Antonio Posts:15,521 Points:2,449,940 Joined:Oct 2005	Message Posted: Jul 25, 2012 8:14:39 PM Ignore BoerneWatch Report Abuse Hold on there cowboys. Our President is touting how good a job he did investing our money in GM. The president of GM came on TV to tell us that they were now profitable. So how could the loss now hit $35,000,000,000.00?
petrpuck All-Star Author Hamilton Posts:559 Points:414,710 Joined:Nov 2011	Message Posted: Jul 25, 2012 8:13:14 PM Ignore petrpuck Report Abuse oh oh
Bonito Champion Author Dayton Posts:15,723 Points:3,002,920 Joined:Jun 2004	Message Posted: Jul 25, 2012 8:13:07 PM Ignore Bonito Report Abuse Though this was political! I get enough of this crap on TV!
naiiawah Champion Author Boise Posts:2,370 Points:685,100 Joined:Mar 2011	Message Posted: Jul 25, 2012 8:12:24 PM Ignore naiiawah Report Abuse Doh!
DEG Champion Author Las Vegas Posts:17,605 Points:3,491,680 Joined:Jul 2003	Message Posted: Jul 25, 2012 8:11:51 PM Ignore DEG Report Abuse Obama touts the bailout of GM; yet we taxpayers are continuing to pay for this poor decision.
itsjustme719 All-Star Author Hamilton Posts:611 Points:596,100 Joined:Dec 2010	Message Posted: Jul 25, 2012 8:08:25 PM Ignore itsjustme719 Report Abuse Time to fire some of the upper management!
mcmonsta Champion Author Honolulu Posts:3,207 Points:813,795 Joined:Sep 2009	Message Posted: Jul 25, 2012 8:06:27 PM Ignore mcmonsta Report Abuse make their executives pay it back with their cars houses investments...aren't they the ones who got GM there in the first place..or is there no blame any more!!!
Palantas All-Star Author Indianapolis Posts:803 Points:410,395 Joined:Sep 2011	Message Posted: Jul 25, 2012 8:06:23 PM Ignore Palantas Report Abuse Too bad. Seems they're making decent cars these days.
Cuzilla Champion Author Indianapolis Posts:12,178 Points:2,346,170 Joined:Sep 2005	Message Posted: Jul 25, 2012 8:04:07 PM Ignore Cuzilla Report Abuse I hope they collapse and take the UAW with them!
Bildawg Champion Author Ohio Posts:1,066 Points:477,970 Joined:Oct 2011	Message Posted: Jul 25, 2012 8:02:58 PM Ignore Bildawg Report Abuse blaa blaa
serrog Champion Author Nova Scotia Posts:5,544 Points:1,508,130 Joined:Oct 2008	Message Posted: Jul 25, 2012 8:02:40 PM Ignore serrog Report Abuse Still make a good car
letmathe Champion Author Chicago Posts:14,301 Points:3,129,020 Joined:May 2001	Message Posted: Jul 25, 2012 8:02:35 PM Ignore letmathe Report Abuse Focus2 ... thanks for the clarification.
Focus2 Champion Author Illinois Posts:7,885 Points:1,917,300 Joined:Mar 2006	Message Posted: Jul 25, 2012 8:00:15 PM Ignore Focus2 Report Abuse Bonanza said, Ford is the only American auto maker that did not take taxpayer money That is not true, as they also accepted a government loan.
GassyKat Champion Author Wisconsin Posts:10,079 Points:2,068,920 Joined:Sep 2005	Message Posted: Jul 25, 2012 7:58:49 PM Ignore GassyKat Report Abuse sigh
carloco75 Champion Author Richmond Posts:3,699 Points:596,465 Joined:Oct 2010	Message Posted: Jul 25, 2012 7:58:06 PM Ignore carloco75 Report Abuse Ouch...
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Jul 25, 2012 7:56:36 PM Ignore iceman11 Report Abuse Crazy
cokezero All-Star Author Philadelphia Posts:830 Points:401,510 Joined:May 2009	Message Posted: Jul 25, 2012 7:55:53 PM Ignore cokezero Report Abuse ok
KhelbenArunson Champion Author Michigan Posts:4,420 Points:712,890 Joined:Apr 2008	Message Posted: Jul 25, 2012 7:54:23 PM Ignore KhelbenArunson Report Abuse Hmmm
mitchell6597 Champion Author New Hampshire Posts:3,462 Points:728,360 Joined:Apr 2010	Message Posted: Jul 25, 2012 7:54:03 PM Ignore mitchell6597 Report Abuse Um, I bought a Toyota.....
seeyardee Champion Author Sacramento Posts:9,075 Points:1,800,505 Joined:Apr 2008	Message Posted: Jul 25, 2012 7:53:03 PM Ignore seeyardee Report Abuse Don't feel bad for the stock market investors. They've been making money for years. And what's $35 billion? One day of war?
CapNC Veteran Author North Carolina Posts:386 Points:357,640 Joined:Jul 2011	Message Posted: Jul 25, 2012 7:52:18 PM Ignore CapNC Report Abuse If I buy a new car it will be a Ford, took it like a man - didn't bend over for the nut in washington
aalix Champion Author Orange County Posts:23,162 Points:4,117,495 Joined:Aug 2001	Message Posted: Jul 25, 2012 7:50:23 PM Ignore aalix Report Abuse GM still a drain to taxpayers.