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William Maley Staff Writer - CheersandGears.com December 9, 2013 'Government Motors' is no more. Today, the U.S. Treasury sold its remaining shares of General Motors, ending a four-year ownership of the automaker. The Treasury says it recouped $39 billion of its original $49.5 billion investment into GM. “The U.S. Treasury’s ownership exit closes just one chapter in GM’s ongoing turnaround story. We will always be grateful for the second chance extended to us and we are doing our best to make the most of it. Today is not dramatically different from the hundreds of preceding days during which we have worked to make GM a company our country can be proud of again,"said GM CEO Dan Akerson in a statement. “Continued investments, innovation, and job creation are just some of the “returns” of a healthy GM and domestic auto industry. Our work continues uninterrupted, and we will keep our sights squarely on our customers and transforming the way we do business.” GM's North American President, Mark Reuss told reporters that this could help bring more customers into the showroom and help improve the company's image. “I think probably some people will begin to consider us right away, maybe the next day.” Source: Automotive News (Subscription Required), General Motors William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. -
William Maley Staff Writer - CheersandGears.com December 9, 2013 'Government Motors' is no more. Today, the U.S. Treasury sold its remaining shares of General Motors, ending a four-year ownership of the automaker. The Treasury says it recouped $39 billion of its original $49.5 billion investment into GM. “The U.S. Treasury’s ownership exit closes just one chapter in GM’s ongoing turnaround story. We will always be grateful for the second chance extended to us and we are doing our best to make the most of it. Today is not dramatically different from the hundreds of preceding days during which we have worked to make GM a company our country can be proud of again,"said GM CEO Dan Akerson in a statement. “Continued investments, innovation, and job creation are just some of the “returns” of a healthy GM and domestic auto industry. Our work continues uninterrupted, and we will keep our sights squarely on our customers and transforming the way we do business.” GM's North American President, Mark Reuss told reporters that this could help bring more customers into the showroom and help improve the company's image. “I think probably some people will begin to consider us right away, maybe the next day.” Source: Automotive News (Subscription Required), General Motors William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster. View full article
