Federal Government Far From Breaking Even on GM Bailout
The share price would have to triple
General Motors stock would have to sell for $95.51 per share for taxpayers to break even on bailing out the company, according to a government watchdog's report released Wednesday.
That price is about three times what GM shares are selling for now, even after a 25 percent increase in the price so far this year.
"There's no question that Treasury, the taxpayers, are going to lose money on the GM investment," Special Inspector General Christy Romero, author of the July quarterly report to Congress, said in an interview.