No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

Government Motors flaming out – both figuratively and literally

by @ 18:52 on April 19, 2011. Tags:
Filed under Business, Politics - National.

Item #1 (H/Ts – Kevin and Fausta) – The same Chevrolet Volt involved in a garage fire last week burst into flames a second time Monday.

Item #2 – The Wall Street Journal reports that the US Treasury is looking to dump the remainder of its holdings in Government Motors (500,065,254 shares) over the summer. At the current trading price of $29.51, that would mean we the taxpayers lost over $14 billion on just the auto-manufacturing part of the GM bailout while (assuming GM makes it to the end of 2014 and the UAW fully cashes out), the entity that was most-responsible for the collapse of Old GM, the UAW, would make $12.55 billion on the deal.

That led Warner Todd Huston to unveil the last car from the current version of GM – the Government Motors WeeKan.

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