GM’s On The Road To Repaying Its Bailout

By Scott Sarvay

January 27, 2011 Updated Jan 27, 2011 at 5:43 PM EST

DETROIT (Indiana’s NewsCenter) - Some refer to it as "Government Motors" but, GM appears to be on the road to getting rid of the federal government as its main investor.

The U.S. Treasury Department still owns about half of its original 61-percent of the automaker.

But, the Wall Street Journal reports, the remaining shares could be sold within a year.

That's the word from an Obama Administration representative.

The sale of the stock would depend on the performance of GM, and the financial markets.

The US invested nearly $50 billion in GM in 2009, to help it through bankruptcy.




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