The U.S. Treasury Department said that it expected to sell its remaining shares of General Motors Co. by the end of the year, a plan that may leave taxpayers with a shortfall of about $10 billion on the automaker's 2009 bailout, Reuters reported yesterday. Treasury said yesterday that it had completed the sale of 70.2 million shares of GM stock and to date had recouped $38.4 billion from the $49.5 billion taxpayer-funded rescue of the Detroit company. At current prices, Treasury would recoup another $1.2 billion from its remaining stake of 31.1 million shares, bringing its total recovery to $39.6 billion. Treasury said that its initial cost basis for the GM shares was $43.52 per share. Treasury previously said that it expected to exit by April 2014, but analysts had expected it to move up the final sale date.
