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Slump at GM Is Trouble for Obama
Rick Newman, US News & World Report
He's been running ads bashing President Obama for car dealerships that were forced to close after the General Motors bailout and bankruptcy restructuring in 2009. But GM's bigger problem may be a stock price that's in retreat, prolonging the day on which U.S. taxpayers will get back their remaining $26.5 billion investment in the company.GM is a vastly better company than it was three years ago, when massive losses forced it into an unusual Chapter 11 filing, with Uncle Sam providing much of the funding needed for a fresh start. But the automaker has hit a rough patch this...
He's been running ads bashing President Obama for car dealerships that were forced to close after the General Motors bailout and bankruptcy restructuring in 2009. But GM's bigger problem may be a stock price that's in retreat, prolonging the day on which U.S. taxpayers will get back their remaining $26.5 billion investment in the company.GM is a vastly better company than it was three years ago, when massive losses forced it into an unusual Chapter 11 filing, with Uncle Sam providing much of the funding needed for a fresh start. But the automaker has hit a rough patch this...
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