{"id":67549,"date":"2013-12-10T07:53:07","date_gmt":"2013-12-10T07:53:07","guid":{"rendered":"https:\/\/armbanks.am\/2013\/12\/10\/239913\/"},"modified":"2024-12-15T13:08:44","modified_gmt":"2024-12-15T13:08:44","slug":"us-government-lost-around-10bn-on-gm-bailout-bbc","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2013\/12\/10\/67549\/","title":{"rendered":"US government lost around $10bn on GM bailout: BBC"},"content":{"rendered":"<p><strong>YEREVAN, December 10. \/ARKA\/.<\/strong> The US government has sold its remaining shares in General Motors, leaving it with a loss of around $10bn (\u00a36bn) on the bailout of the car maker.<\/p>\n<p>The US Treasury spent $49.5bn bailing out GM in 2008 and 2009, and took a 61% stake in the car maker.<\/p>\n<p>Treasury Secretary Jack Lew said the move prevented the collapse of the US auto industry and saved a million jobs.<\/p>\n<p>&#8220;With the final sale of GM stock, this important chapter in our nation&#8217;s history is now closed,&#8221; he said.<\/p>\n<p>GM filed for bankruptcy protection in June 2009, making it the biggest failure of an industrial company in US history.<br \/>\nThe reorganisation saw it slash 13 car plants and 27,000 employees in the US.<\/p>\n<p>Since emerging from bankruptcy, GM has reported 15 profitable quarters, has almost $27bn in cash and is considering rewarding shareholders with a dividend payment.<\/p>\n<p>The government began selling its shares in GM in November 2010 and last month said it expected to sell its remaining shares by the end of the year. \u20130&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US government has sold its remaining shares in General Motors, leaving it with a loss of around $10bn (\u00a36bn) on the bailout of the car maker<\/p>\n","protected":false},"author":1,"featured_media":157161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[13576,13391,13577,12757],"class_list":{"0":"post-67549","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-auto-industry","10":"tag-bbc","11":"tag-us-government","12":"tag-usa"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/67549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=67549"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/67549\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/157161"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=67549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=67549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=67549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}