U.S. Treasury Initiates Sale of Remaining GM Stock

At today’s GM share price of $29 or so, 300 million shares are worth about $8.7 billion. The Treasury received $5.5 billion from its December sale to GM. The federal government poured $49.5 billion into GM in 2008-2009, but won’t recover most of that unless GM stock should suddenly triple in price.

Today’s announcement from the Treasury department claims that the government has so far recovered $387 billion of the $418 billion (about 93%) it distributed under the Troubled Asset Relief Program (TARP).

GM’s shares are down about 1.1% today, at $29.16 in a 52-week range of $18.72 to $30.68.