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GAO says GM and Chrysler are 'unlikely' to pay back funds |
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| Nov 04, 2009 03:00 PM UTC |
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Via BloggingStocks:
Filed under: General Motors (GM)  "Treasury's own analysis suggests that the circumstances necessary for the companies to reach market capitalizations high enough for Treasury to fully recovery its equity investments are unlikely," a Government Accounting Office report on the taxpayer-funded bailouts of General Motors and Chrysler found.The problem is this: In order for taxpayers on General Motors to be made whole, GM will have to hit a market capitalization of $66.9 billion. The highest GM's market cap has ever been is $57 billion -- and that was in 2000, when circumstances were very, very different. Continue reading GAO says GM and Chrysler are 'unlikely' to pay back funds GAO says GM and Chrysler are 'unlikely' to pay back funds originally appeared on BloggingStocks on Wed, 04 Nov 2009 10:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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