Topic - General Motors Chapter 11 Reorganization

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  • FILE - In this Thursday, Jan. 10, 2013 file photo, the logo for General Motors decorates the entrance to a former UPS facility as GM announced plans to open an information technology center in the building, in Roswell, Ga. The U.S. government ended up losing $10.5 billion on its bailout of General Motors, but still says Monday, Dec. 9, 2013 that the alternative would have been much worse. (AP Photo/David Goldman, File)

    Treasury sells last shares in 'Government Motors'

    Say goodbye to "Government Motors." The Obama administration announced Monday the Treasury Department has sold its remaining shares in General Motors at more than a $10 billion loss for taxpayers, about five years after providing the country's top automaker with a $49.5 billion bailout in exchange for a majority stake in the company that helped it earn the nickname "Government Motors."

  • GM set to buy back bailout stock

    General Motors moved Wednesday to shed its "Government Motors" nickname, buying back a chunk of its stock from the federal government as the Treasury Department announced plans to eliminate its losses in the company's stock by early 2014.

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