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Federal government sells more General Motors shares

by

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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