General Motors Stock Begins Trading Thursday

Ad Feedback

General Motors returns to the stock market on Thursday, less than two years after its landmark bankruptcy.

The turnaround marks a new phase for the auto giant since the controversial government bailout in 2009. The total price of the company's bailout was $50 billion. GM has already paid or promised to pay back $9.5 billion.

Its initial public stock offering is the largest in U.S. history. The reason? The company is making money and is in the black for the first time in six years.

The government is expected to make about $13.6 billion when GM stock starts trading again on the New York Stock Exchange.

The auto giant unveiled its newest cars at the annual auto show in Detroit this week. Car buyers who said they never considered GM during the bailout may give the company a chance.

"Supporting the American auto industry required tough decisions and shared sacrifices, but it helped save jobs, rescue an industry at the heart of America's manufacturing sector, and make it more competitive for the future," President Barack Obama said.

An independent study released this week said the government bailout of GM saved more than 1.4 million jobs.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

 CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.