US treasury report to Congress says US$811 million in GM stock sold


AP

DETROIT–The Treasury Department said in its August report to Congress that it sold US$811 million worth of GM common stock last month.

The report, dated Tuesday, says the government has recovered about US$35.4 billion of the US$49.5 billion bailout it gave the Detroit automaker. That means taxpayers are still US$14.1 billion in the hole.

The Treasury says the price per share of stock sold in July and August will be revealed at a later date.

GM stock sold within a range of US$33.50 to US$37.18 in August. At the midpoint of US$35.34, the government sold roughly 23 million shares. In July, the government sold US$877 million worth of stock. At the midpoint of US$35.56, it sold roughly 25 million shares.