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Federal government sells more General Motors shares

by
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan in this file photograph taken August

DETROIT (WKZO) -- The U.S. Treasury sold over 17-million shares of stock in General Motors in February.

In a report released this week, the Treasury said it raised roughly 490-million dollars from the sale last month.  Since January, the Treasury has sold approximately 22.6-million shares, or seven-percent of the 300-million shares it's selling off.

So far, the department has recouped 29.8-billion of its 49.5 billion-dollar bailout for the automaker.  The Treasury has vowed to exit its stake in GM by March 2014.

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