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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:2,442 Points:364,705 Joined:Nov 2007	Message Posted: Jul 27, 2012 4:43:05 PM Ignore RONALD777 Report Abuse Thank you Obama.
markbaily Champion Author Vancouver Posts:2,948 Points:388,460 Joined:Mar 2012	Message Posted: Jul 27, 2012 11:39:41 AM Ignore markbaily Report Abuse Typical US government. You guys should all come live in Canada.
gas_too_high Champion Author Columbus Posts:11,544 Points:1,934,190 Joined:Aug 2005	Message Posted: Jul 26, 2012 8:00:25 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:2,473 Points:663,925 Joined:Jan 2010	Message Posted: Jul 26, 2012 12:05:38 AM 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:1,754 Points:984,200 Joined:Feb 2006	Message Posted: Jul 26, 2012 12:04:03 AM 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:556,980 Joined:Mar 2006	Message Posted: Jul 26, 2012 12:02:41 AM Ignore Dodge_Me Report Abuse Thats not good, the volt did it. :-)
umitb Champion Author Indianapolis Posts:3,681 Points:844,415 Joined:Apr 2010	Message Posted: Jul 25, 2012 11:59:20 PM Ignore umitb Report Abuse ok
ty58 Veteran Author Akron Posts:320 Points:485,280 Joined:Jun 2011	Message Posted: Jul 25, 2012 11:58:58 PM Ignore ty58 Report Abuse it'll go back up
srchr Champion Author San Jose Posts:7,259 Points:1,621,025 Joined:Apr 2008	Message Posted: Jul 25, 2012 11:57:19 PM Ignore srchr Report Abuse pure politix - courting the union vote
aggietim Champion Author Fort Worth Posts:1,756 Points:693,625 Joined:Oct 2008	Message Posted: Jul 25, 2012 11:55:31 PM Ignore aggietim Report Abuse not good
Shakleelady31 All-Star Author Fort Wayne Posts:571 Points:402,350 Joined:Jan 2012	Message Posted: Jul 25, 2012 11:55:07 PM Ignore Shakleelady31 Report Abuse Interesting.
TFowler513 Champion Author Memphis Posts:3,824 Points:1,414,860 Joined:Mar 2008	Message Posted: Jul 25, 2012 11:50:44 PM Ignore TFowler513 Report Abuse More money down the tubes!!!
GAS1251 Champion Author Texas Posts:5,153 Points:1,627,205 Joined:Jun 2008	Message Posted: Jul 25, 2012 11:45:17 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 11:42:53 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 11:41:29 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:6,650 Points:1,211,830 Joined:May 2006	Message Posted: Jul 25, 2012 11:36:41 PM Ignore DrLyon Report Abuse What's up.... GM is building better cars... Come on stock market...
TxPDawg All-Star Author Austin Posts:657 Points:380,995 Joined:Mar 2011	Message Posted: Jul 25, 2012 11:34:25 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 11:32:39 PM Ignore Jeeputtputt Report Abuse control freak vehicles = junk & high costs!!
Beaveronparade Champion Author Hartford Posts:2,105 Points:635,825 Joined:Mar 2011	Message Posted: Jul 25, 2012 11:31:46 PM Ignore Beaveronparade Report Abuse That's why so many people say, "No bailouts"!
saleboss Champion Author Phoenix Posts:3,929 Points:1,177,875 Joined:Feb 2006	Message Posted: Jul 25, 2012 11:27:47 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 11:26:35 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:5,972 Points:1,276,975 Joined:Jun 2009	Message Posted: Jul 25, 2012 11:26:08 PM Ignore Vette1967 Report Abuse Where did all that money go??
bigdipperMS Champion Author Mississippi Posts:1,519 Points:538,665 Joined:Apr 2011	Message Posted: Jul 25, 2012 11:25:12 PM Ignore bigdipperMS Report Abuse Another wonderful deal struck by Obomanation. Fire him in November!!!
mstearno Champion Author Dayton Posts:8,071 Points:1,732,210 Joined:Jan 2008	Message Posted: Jul 25, 2012 11:24:52 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:8,809 Points:1,844,425 Joined:Aug 2005	Message Posted: Jul 25, 2012 11:21:15 PM Ignore WIPACKERFAN Report Abuse Not good.
abcdMA Champion Author Worcester Posts:7,927 Points:1,575,955 Joined:Nov 2008	Message Posted: Jul 25, 2012 11:18:21 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:1,884 Points:702,165 Joined:May 2010	Message Posted: Jul 25, 2012 11:17:27 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:3,266 Points:589,360 Joined:Sep 2011	Message Posted: Jul 25, 2012 11:15:42 PM Ignore SparkieMi Report Abuse Great post by mcmonsta!!!!!
BoerneWatch Champion Author San Antonio Posts:15,546 Points:2,454,915 Joined:Oct 2005	Message Posted: Jul 25, 2012 11:14:39 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:419,310 Joined:Nov 2011	Message Posted: Jul 25, 2012 11:13:14 PM Ignore petrpuck Report Abuse oh oh
Bonito Champion Author Dayton Posts:15,761 Points:3,008,870 Joined:Jun 2004	Message Posted: Jul 25, 2012 11:13:07 PM Ignore Bonito Report Abuse Though this was political! I get enough of this crap on TV!
naiiawah Champion Author Boise Posts:2,395 Points:690,825 Joined:Mar 2011	Message Posted: Jul 25, 2012 11:12:24 PM Ignore naiiawah Report Abuse Doh!
DEG Champion Author Las Vegas Posts:17,625 Points:3,495,680 Joined:Jul 2003	Message Posted: Jul 25, 2012 11:11:51 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:612 Points:598,870 Joined:Dec 2010	Message Posted: Jul 25, 2012 11:08:25 PM Ignore itsjustme719 Report Abuse Time to fire some of the upper management!
mcmonsta Champion Author Honolulu Posts:3,232 Points:819,520 Joined:Sep 2009	Message Posted: Jul 25, 2012 11:06:27 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:414,595 Joined:Sep 2011	Message Posted: Jul 25, 2012 11:06:23 PM Ignore Palantas Report Abuse Too bad. Seems they're making decent cars these days.
Cuzilla Champion Author Indianapolis Posts:12,196 Points:2,350,255 Joined:Sep 2005	Message Posted: Jul 25, 2012 11:04:07 PM Ignore Cuzilla Report Abuse I hope they collapse and take the UAW with them!
Bildawg Champion Author Ohio Posts:1,066 Points:482,470 Joined:Oct 2011	Message Posted: Jul 25, 2012 11:02:58 PM Ignore Bildawg Report Abuse blaa blaa
serrog Champion Author Nova Scotia Posts:5,569 Points:1,513,105 Joined:Oct 2008	Message Posted: Jul 25, 2012 11:02:40 PM Ignore serrog Report Abuse Still make a good car
letmathe Champion Author Chicago Posts:14,316 Points:3,133,295 Joined:May 2001	Message Posted: Jul 25, 2012 11:02:35 PM Ignore letmathe Report Abuse Focus2 ... thanks for the clarification.
Focus2 Champion Author Illinois Posts:7,892 Points:1,919,340 Joined:Mar 2006	Message Posted: Jul 25, 2012 11:00:15 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:2,069,170 Joined:Sep 2005	Message Posted: Jul 25, 2012 10:58:49 PM Ignore GassyKat Report Abuse sigh
carloco75 Champion Author Richmond Posts:3,718 Points:601,255 Joined:Oct 2010	Message Posted: Jul 25, 2012 10:58:06 PM Ignore carloco75 Report Abuse Ouch...
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Jul 25, 2012 10:56:36 PM Ignore iceman11 Report Abuse Crazy
cokezero All-Star Author Philadelphia Posts:830 Points:401,510 Joined:May 2009	Message Posted: Jul 25, 2012 10:55:53 PM Ignore cokezero Report Abuse ok
KhelbenArunson Champion Author Michigan Posts:4,446 Points:718,615 Joined:Apr 2008	Message Posted: Jul 25, 2012 10:54:23 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 10:54:03 PM Ignore mitchell6597 Report Abuse Um, I bought a Toyota.....
seeyardee Champion Author Sacramento Posts:9,106 Points:1,806,455 Joined:Apr 2008	Message Posted: Jul 25, 2012 10:53:03 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:393 Points:362,780 Joined:Jul 2011	Message Posted: Jul 25, 2012 10:52:18 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:23,188 Points:4,123,345 Joined:Aug 2001	Message Posted: Jul 25, 2012 10:50:23 PM Ignore aalix Report Abuse GM still a drain to taxpayers.