http://www.dcclothesline.com/2015/01/09/much-gm-bailout-really-cost/
Now on to the Chevy Volt. We did not subsidize the volt, however Obama did give the battery maker money to build a factory. GM had the choice of hiring a US battery maker or a Korean one. They chose the Korean company. Nice thank you for the US taxpayers, huh? Obama gave them 2.4 billion from the stimulus. Hell, I could build firebombs for a hell of a lot less. Some empty ketchup bottles, a buck worth of gas and an old rag and viola! Total cost to date 33.036 billion.
Last but not least how much did we lose on our 50% stake? We have already sold some at a loss and we must sell the remainder at 55 dollars a share to break even. The current price of GM stock is 22 dollars a share. That means if we were to sell our 500 million shares, we would lose 16.5 billion dollars. That makes a grand total of 49.536 billion. 536 million more than we gave them.
http://www.bing.com/search?q=gm share prices&form=AGWTDF&pc=MAGW&src=IE-SearchBox
And how did
GM show their appreciation? The decided to build a brand new 540 million dollar engine plant that
would hire 500 workers……in Mexico. Then they packed up some of their parts plants and moved them to China. Don’t you just want to give Obama a big hug?