General Motors is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market, according to a commentary in Forbes on Thursday. The federal government currently owns 500,000,000 shares of GM, or about 26 percent of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share last Tuesday Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion. The government's GM stock is currently worth about 39 percent less than it was on November 17, 2010, when the company went public at $33.00/share. It is doubtful that the Obama administration would attempt to sell off the government's massive position in GM while the stock price is falling, according to the commentary. GM is unlikely to look at bankruptcy before the election, but, given current trends, the company could easily do so again before the end of a second Obama term, according to the commentary.
