GM back on the stock market

U.S. and Canadian governments start selling off their stake in the automaker

Shares of General Motors hit the open market on Thursday and were available to investors for US$33 a piece. The automaker, which filed for bankruptcy last June, had become known as “Government Motors” in recent years thanks to bailouts worth billions of dollars from the Canadian and U.S. government. Now, those same governments are hoping to make at least some of that money back by selling their stake in the company. The U.S. government plans to sell 400 million of its shares in GM, reducing its ownership from 61 per cent to 31 per cent. Canada, on the other hand, is planning a more modest sell-off of just twenty per cent of its shares. For Canada to break even on its $9.5 billion bailout of the automaker, share prices would need to reach $43. In their first hour of trading on Wednesday, the stock was priced at just over $35 on both the New York and Toronto stock exchanges.

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GM back on the stock market

  1. Dear Canadians – Instead of buying GM stock, can you please buy Arizona and make us a colony?

    With the strong Loonie and a non-insane fiscal policy you can buy anything you want. What would you prefer to buy? An old economy company headquartered in a city you captured then abandoned in 1812. Or, would you rather buy an entire state that offers year-round golf with green fees payable in worthless US Dollars?

    Our central government hates us and sues us all of the time anyhow. We want to be Canadians now. If you don't wish to buy Arizona, you may invade and conquer us. If you do not wish to invade, we will attack ourselves and surrender to Canada.

    For your act of kindness, you will get an average hockey team that used to be called the Jets. Plus, you will get the oldest professional football team in North America, besides the Argonauts. And, a state employee, that you select, will be assigned to rub sun tan lotion on you to assure an even tan. See personal advice regarding colonization at <a href="http://www.disunderstand.com” target=”_blank”>www.disunderstand.com . Thank you in advance for your wise purchase of Arizona.

  2. Dear Canadians – Instead of buying GM stock, can you please buy Arizona and make us a colony?

    With the strong Loonie and a non-insane fiscal policy you can buy anything you want. What would you prefer to buy? An old economy company headquartered in a city you captured then abandoned in 1812. Or, would you rather buy an entire state that offers year-round golf with green fees payable in worthless US Dollars?

    Our central government hates us and sues us all of the time anyhow. We want to be Canadians now. If you don't wish to buy Arizona, you may invade and conquer us. If you do not wish to invade, we will attack ourselves and surrender to Canada.

    For your act of kindness, you will get an average hockey team that used to be called the Jets. Plus, you will get the oldest professional football team in North America, besides the Argonauts. And, a state employee, that you select, will be assigned to rub sun tan lotion on you to assure an even tan. See personal advice regarding colonization at http://www.disunderstand.com . Thank you in advance for your wise purchase of Arizona.

    • Arizona is already being overrun by an illegal accumulation of foreigners, for which your federal government has made it its mission to expressly prevent you from enforcement of its own laws. So, no thanks: No sale, and we reject your unilateral surrender.

      But we appreciate your overly generous description of our fiscal policy as non-insane. Less, maybe, but it's not non.

      Adios, amigo.

    • Can you imagine products packaging with three languages . The last time we have complaints from Quebec for not having enough French in our Olympic, imagine how long the program be if we have three? We will freeze our butts off.

      • Agreed, however … Vous pouvez jouer au golf toute l'année en Arizona.

  3. Arizona is already being overrun by an illegal accumulation of foreigners, for which your federal government has made it its mission to expressly prevent you from enforcement of its own laws. So, no thanks: No sale, and we reject your unilateral surrender.

    But we appreciate your overly generous description of our fiscal policy as non-insane. Less, maybe, but it's not non.

    Adios, amigo.

  4. The Volt is a real winner, good luck with that stock.

  5. The Volt is a real winner, good luck with that stock.

  6. Can you imagine products packaging with three languages . The last time we have complaints from Quebec for not having enough French in our Olympic, imagine how long the program be if we have three? We will freeze our butts off.

  7. Let us just hope that the quality of their engine will improve this time, or we will be in the sink. The last time, after a year their car started developing problems, hopefully they overhauled not only their cars but their engineers too.

  8. Let us just hope that the quality of their engine will improve this time, or we will be in the sink. The last time, after a year their car started developing problems, hopefully they overhauled not only their cars but their engineers too.

  9. Agreed, however … Vous pouvez jouer au golf toute l'année en Arizona.

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