mobile-menu-icon
GM Authority

US Treasury Divested Another $1.2 Billion GM Shares In October 2013

The United States Treasury disclosed in its monthly report to Congress this week that it had recovered about $37.2 billion of its investment in General Motors through repayments, stock sales, dividends, interest and other income, with the latest addition coming from divesting $1.2 billion worth of shares of the automaker.

In 2009, Uncle Sam held onto 60.8 percent of the automaker. Today, it’s said to be as low as 7 percent.

Former staff.

Subscribe to GM Authority

For around-the-clock GM news coverage

We'll send you one email per day with the latest GM news. It's totally free.

Comments

  1. 7%??? more like 4%. roughly 70 million shares

    Reply
  2. Finally! Soon there will be absolutely no control from the government (besides EPA & CAFE)! Hopefully this means there are plans to bring Pontiac back without having that damn Obama interfering. To all the people who say that there isn’t a place for Pontiac anymore, I completely disagree. A brand that Bob Lutz was describing (i.e. Limited Edition Brand, Niche, Premium Performance, Quality) would work! A Grand Prix sedan/coupe on AWD/RWD Sigma ll, Grand Am sedan/convertible on AWD Alpha and Bonneville sedan/coupe/wagon on RWD Alpha sold at Buick/GMC Dealers. . .

    The GP, GA and Bonny don’t have to be the same as other comparable cars in the GM lineup (Lets say Bonneville vs. SS) If Pontiac used some of their older distinctive styling (Not plastic body cladding, but rather 1997-2009 styling. The Grand Prix should have some resemblance to the 97-08 models, The Grand Am should have some resemblance with the 2010 G6, and The Bonneville should have some resemblance of the 2005 Bonneville) with GM’s new interiors that would be great! Resemblance, not the same. The little things like: Front & Rear Fascias, Headlights, Tail lights, Spoilers, Rims, Twin Port Grille, Twin Spoke Side Mirrors,

    2.5L Turbo I4 (VVT & iVVL) 325HP & 335LB-FT
    3.6L S/C V6 (VVT, SIDI & AFM) 430HP & 450LB-FT
    6.0L S/C V8 (VVT, & AFM) 550HP & 565LB-FT

    Reply
    1. Maybe if Pontiac made money.

      Reply
      1. Manoli, 2007-2010 was when Pontiac didn’t make money. But that was because they built the G6 out of leftover GM parts, the Torrent was cheap and plastic, the Solstice was cool but plastic too, the Vibe well was a Toyota to start, the G5 and G3 were terrible ideas from the beginning. But you can’t tell me that Pontiac didn’t make any money. The 97-08 Grand Prix’s are everywhere (I am a proud owner of 3!!! 2, 00′ GT/01 GTP Special Edition built at Fairfax and 1 07′ GT in Oshawa) The G6 did sell in quite some numbers but that was it. The Grand Am sold very well, even for a small yet, not terrible car. The Bonneville did great in the 90’s and 00’s. (I am also a proud owner an 04′ GXP built at Hamtramck) The Trans Am also did great in the 90s.

        Reply
  3. @ Evan… Not cool to bring politics into the forum, but since you did…

    That “damn Obama”, as viewed by many of us, saved GM.

    My father in law was an executive for GM. He once told me that every election, the upper management reminder to donate to the republican party… They don’t do that any more.

    The auto industry, after many decades of in house war, has finally morphed into a cooperative relationship between management and labor… They had to, in order to survive. Maybe someday the American people, and government, will wise up and do the same.

    Reply
  4. You’re trying to defend the W-bodies by saying the G6 was built of leftover parts; despite the fact it was built on a newer, stronger, and more rigid platform.

    Lets not forget, Pontiac wasn’t making money even before 2007.

    “but the Feds said ‘ how much money have you made on Pontiac in the last 10 years?’ Well, the answer was ‘nothing.’ So, it goes. And when the guy who is handing you the check for 53 billion dollars says I don’t want Pontiac, drop Pontiac or you don’t get the money, it doesn’t take you very long to make up your mind,” – Lutz

    Source: http://gmauthority.com/blog/2013/10/bob-lutz-the-government-forced-the-shutdown-of-pontiac-video/#ixzz2kqcZsoGt

    That means than since 2000 (10 years before the brand was closed), Pontiac was a drain on GM’s resources. The Grand Prix of that time, the Bonneville, ALL OF THEM were unprofitable.

    It doesn’t matter what Pontiacs you own or how many of those plastic heaps you see on the road. They never made a dime for GM. GM has no reason to bring the unprofitable junk back just to appease a few people.

    And for the record, before you say ‘I’m in denial’ (of what?), I have a passing interest in Fieros. They were far more unique and handled better than any W-body Grand Prix, but even I can see the writing on the wall.

    Consumer habits have changed, and HP isn’t as strong a selling point as it was 20 years ago. Theme-oriented brands like Pontiac are simply uncompetitive and meaninless if all they offer is high HP and nothing else.

    It’s a tech-driven automotive world out there, not a wrench-driven one…and a HUD isn’t enough.

    Reply
    1. Whatever you say. . .

      My Pontiac’s aren’t “plastic heaps.” You must mean the Grand Am and Aztek. As for the G6, I’m not retarded! I know the G6 was on the epsilon! What I am talking about is how the G6 shared so much with the Aura and Malibu! The Grand Prix, Regal, Impala, Monte Carlo all had their own styling and personalities. The Grand Prix was very profitable! Pontiac was GM’s third best selling brand until 2007! Where did you get the HUD idea? Yes I love them but I never said anything about it. Your draining my resources. STFU you troll. . . . .

      Reply
  5. I’m with you Evan… Overall all, the Pontiac’s were no more plastic than the other divisions.

    The Pontiac division, was the non boring division. All divisions were losing money by 2007.

    My wife and I own 3 Pontiac’s, and they are not like any other GM division brands, or most brands in America… and one of them is a G6.

    Reply
    1. Yeah! I am not saying the G6 is a bad car, it just was very similar to the very well done Aura and Malibu! The G6 was okay from 2005-2006, but should have gotten the 2009.5 design in late 2007 and then redesigned completely for 2009. You are very right how all divisions were losing money by 2007, that’s why GM filed for chapter 11! I know this is getting old, but I still wish that Oldsmobile were still here instead of Buick. I don’t see Buick getting anywhere, unless they market some Pontiac-like vehicles into their lineup. Which would be okay, but still not the same as Pontiac itself. . .

      Reply
      1. Not every brand was losing money on its products (especially not GMC, with its highly profitable lineup of BOF vehicles). There was A LOT happening outside of brand sales that triggered chapter 11. As much as I think it would be cool to bring Pontiac back, I’m not about to be consumed by the butthurt of it no longer existing.

        Reply
  6. No, seriosuly look at your 01′ Grand Prix dash. That IS a plastic heap.

    In case you forgot, this is what it looks like:
    http://carphotos.cardomain.com/ride_images/2/3573/2741/21431370018_large.jpg

    And the Grand Prix made money? Don’t lie to us and you enjoy deluding yourself. The link to Lutz saying that Pontiac was unprofitable is here:
    http://gmauthority.com/blog/2013/10/bob-lutz-the-government-forced-the-shutdown-of-pontiac-video/#ixzz2kqcZsoGt

    Who am I going to believe? Lutz who was part of GM’s management and his comments about Pontiac, of you who just says the Grand Prix was profitable without any evidence?

    You seem to be big on believing things without evidence. Might want to get that problem checked out.

    Also, it doesn’t matter if Pontiac moved lots of units in 2007 if their return on each unit sold was at a loss. It’s a fruitless practice that did nothing to pay for the money GM wasted propping up a dying brand.

    The HUD thing came from a post you made a while back where you felt that fact that your GP has an HUD was somehow newsworthy, or even something to be proud of.

    Try again. I’ve not felt threatened, or even bothered by the loss of the unprofitable Pontiac brand. You’re certainly not making me care about the brand by saying untruths about it’s how unprofitable it was.

    Reply
    1. The HUD in all my cars is something to be proud of! It’s now only in super high end GM vehicles (i.e Corvette’s, Denali’s, Cadillac’s) and at the time it was something to be proud of in a Pontiac, it is still a very nice feature to have. But besides the point, the interior quality of the 97-03 wasn’t great but it was certainly one of the better ones GM made at the time. There is really only one plastic piece that is big enough that is worthy of note taking (the dash panel that goes around the radio/ac-heat/gauges). The leather trimmed door panels are also a very nice addition to make the GP feel very solid and well built. The leather seats are very quality made and super comfortable. I certainly don’t care what else you have to say, because it’s all rude and BS! Oh and btw, you might want to get that checked out, you f***ing retard. . . .

      Reply
      1. Suit yourself. But don’t lie next time and believe that you won’t get caught.

        Reply
  7. Grawdaddy… Sometimes it’s worse insulting a man’s car, than it is insulting his wife or girlfriend. Surely, old age hasn’t addled your capacity to respect another persons pearl, by not calling it a pig. Maybe you’re one, who like many others, think that foreign brands are superior than domestic American cars. Perhaps your a fan of autos, that are like BMWs?… Which to me, are over hyped, over priced, and over here. An old codger, like me, can take someone being told, that my auto is a p.o.s. My response is… “Who gives a frak what you think”, but many of the bright minds of youth, are not at the point of responding, by the around the block, response of… Go frak yourself.

    What has been lost on this thread, Is the time honored virtue of respect, and the main intention of Manoli’s article, which is… GM is diminishing the controversial government loan.

    I gave my opinion earlier, which resulted in a draw of likes, dislikes. The result only points out, by a micro of the macro, we are truly a divided nation. What pisses me off, more than any other issue today, Is the outsourcing of manufacturing, and the intentional, perpetual, bad mouthing of American products. This attitude, has just about destroyed the economic heart of the Midwest… To which I respond proudly… “If you don’t like our domestic products that much… Go frak yourself”.

    Reply
    1. A few pointers; as I think you are sorely missing/ignoring them:

      1) There is no need for self-censorship. Say “go fuck yourself” next time.

      2) I don’t care about American manufacturing capacity, the American mid-west, or America’s social class system, as I am not an American. Those matters are for Americans to resolve.

      3) Every car sold in my county is an “import”, even those from the D3.

      4) I wouldn’t be on GMA if I didn’t hold that GM’s products were in some ways superior than other automakers. I would also be deluding myself if I didn’t hold that some of GM’s are inferior to those from other automakers.

      5) If you feel that “insulting” an inanimate object is cause for anger of the owner of that object, then please see a psychoanalyst.

      6) Respect is earned, NEVER distributed freely. I extend this personal axiom from everyday life into GMA and elsewhere, and I don’t care if you don’t respect the axiom either; you’d be proving my point.

      Reply
  8. WOW… Bet you’re a lot of fun at parties.

    Not an American… Well… In that case. Go fuck yourself, fuck you, and fuck the country of your origin. Do you feel better now?

    You’re a sadist, and I’m not a masochist so… Let’s fuckin have a knock down drag out fight everytime you and I are posting.

    Reply
  9. Everyone keep this crap up and we will ban comments altogether.

    Reply
  10. @Manoli..

    My apology Manoli… To you and your staff. Won’t happen again.

    The Greek side was on slow boil.

    Reply

Leave a comment

Cancel