WORLD> GM Goes Bankruptcy
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WORLD> GM Goes Bankruptcy
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US gov't wants to sell automaker stock: Official
(Agencies)
Updated: 2009-07-28 00:20 DETROIT: The head of the Obama administration's autos task force says the government wants to sell its shares in General Motors Co and Chrysler Group LLC as soon as possible. Task force chairman Ron Bloom told a congressional panel meeting Monday in Detroit that the government is eager to dispose of the shares. The US government owns 61 percent of the new General Motors and 8 percent of Chrysler. Together the companies have received $65 billion in federal aid. Both recently emerged from bankruptcy protection. Bloom was testifying before a panel overseeing auto industry bailout money. Treasurers from GM and Chrysler also are scheduled to testify. |
