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Posts Tagged ‘obama

General Motors at NationalizedYet, ReprivatizedYet

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General Motors is bankrupt and the federal government has taken a controlling stake. NationalizedYet and ReprivatizedYet have been updated

NationalizedYet may need a third column between ‘yes’ and ‘no’, for companies where the executive branch has been acting like the owner, even without a formal majority interest. Chrysler, Citibank, and Bank of America could fall into that category.

A capital infusion around May 21 may have given the government a majority stake in GMAC, but it seems a formal announcement of GMAC’s new capital structure may not come until further fundraising is completed. For now GMAC still lives in the ‘no’ column

Written by gojomo

2009-06-02 at 00:55

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