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GM stock lower amid report of quick govt sale

April 20, 2011

Seems that everything Obama touches turns to crap…

(AFP) – 22 hours ago

NEW YORK — A report that the US government plans to sell off much of its remaining stake in General Motors this year despite the firm’s lackluster share price caused investors to flee the stock Tuesday.

After the Wall Street Journal reported a government sale could come within the next six months, GM’s shares fell by nearly 1.3 percent to end at $29.59.

The government sale would “almost certainly” mean that US taxpayers would take a loss from a politically controversial $50 billion rescue of the auto giant in 2009, according to the paper.

More here.

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