One reason I'm thankful for you: - Edit 1
Before modification by nossy at 20/04/2011 06:56:58 PM
I see your posts, become annoyed and then immediately go to read a reasonable source on the matter. See, now this doesn't sound so crazy to me:
"Planning for the sale of our remaining GM stock is still at an early stage, and the IPO lock-up does not expire until late May," a Treasury spokesperson said. "At that point, we will consider all of our options, based on our twin goals of protecting taxpayers' interests and exiting as soon as practicable."
...
The size and form of a summer share offering is under discussion at Treasury. A final decision hasn't been made by Treasury Secretary Timothy Geithner, who would need to sign off on a big sale. If GM shares dive, Treasury could decide to hold off longer. Unlike in the IPO, when the government, banks and GM worked closely together on the deal, the government has more leeway to decide how to proceed because GM has already gone public."
It could be years before the stocks are at the $53 a share that would make the government money (or break even). Do we keep the stocks and all the flack that comes with that choice or sell and get the govt out of it, even if there is a loss?
I'm not naive enough to miss the fact that they want to sell before 2012, but seriously, what's the better choice?
"Planning for the sale of our remaining GM stock is still at an early stage, and the IPO lock-up does not expire until late May," a Treasury spokesperson said. "At that point, we will consider all of our options, based on our twin goals of protecting taxpayers' interests and exiting as soon as practicable."
...
The size and form of a summer share offering is under discussion at Treasury. A final decision hasn't been made by Treasury Secretary Timothy Geithner, who would need to sign off on a big sale. If GM shares dive, Treasury could decide to hold off longer. Unlike in the IPO, when the government, banks and GM worked closely together on the deal, the government has more leeway to decide how to proceed because GM has already gone public."
It could be years before the stocks are at the $53 a share that would make the government money (or break even). Do we keep the stocks and all the flack that comes with that choice or sell and get the govt out of it, even if there is a loss?
I'm not naive enough to miss the fact that they want to sell before 2012, but seriously, what's the better choice?