US Treasury To Sell Remaining Geneal Motors Company (GM) Stake

The US government is exiting the auto business. The US Treasury announced that it would sell its remaining 2.2% stake in General Motors Company (NYSE:GM) by the end of the year, ahead of consensus expectation that it would sell the stocks in 2014. Treasury officials said that the exact timetable will depend on market conditions, report Jeff Bennett and Eric Morath for The Wall Street Journal. US Treasury’s stake in GM remains controversial When the US first bailed out the auto industry in 2009, Treasury took a 61% stake in General Motors Company (NYSE:GM), a move that remains extremely controversial. While…