The American taxpayers, not so much.
Via Human Events:
General Motors (GM) Chief Executive Officer (CEO) Dan Akerson — a President Barack Obama post-bailout Crony Socialist appointee — is hard to confuse with someone in touch with the common man.
There’s Akerson’s palatial house. Or his second, palatial, beachfront condominium. Neither of which were used in the filming of Good Times. […]
Akerson’s latest oblivious iteration? That we’ve “gotten over” our looming titanic auto bailout loss:
The U.S. government got a stake in the restructured company, part of which was sold in an initial public stock offering about one year ago on Nov. 18, 2010. The government’s remaining 500 million shares would have to sell for around $53 per share for the U.S. to break even. Such a sale probably won’t come anytime soon. GM shares are trading around one-third less than the $33 IPO price.
The summer before the IPO, then-GM Chairman and CEO Ed Whitacre said government ownership was hurting the company’s sales. Whitacre said GM didn’t want to be known as “Government Motors.”
But Akerson said on Thursday that the new GM is now making money and has passed that stage.
“I do think that we’ve kind of gotten over that,” he said.