WASHINGTON—The Ontario government has sold its final 36.7 million shares of General Motors Co. it received as part of Canada’s $10 billion government bailout of the Detroit automaker.
WAYNE, MI—Saving the American auto industry was the right thing to do, President Obama told workers at the Ford assembly plant here last week, adding that the industry has created some 500,000 jobs over the past five years.
DETROIT—The Treasury Department yesterday sold the last of its shares of GM stock, underscoring the domestic auto industry’s rebound from the deepest downturn since the Great Depression.
DETROIT—The Treasury Department will sell its remaining stake in General Motors in the next year or so, winding down a $50 billion bailout that saved the iconic American car giant but also set off a heated debate about government intervention in private business.