WASHINGTON, DC (WKZO) -- The U.S. Treasury department is reportedly accelerating its sell-off of stock in General Motors.
According to documents filed on Tuesday, the government has 101-million remaining shares of GM stock, which it intends to sell by March. The taxpayers’ ownership stake in the Detroit automaker, which was once more than 60-percent, is now down to 7.3-percent.
The government’s sell-off has picked up as of late. After selling an average of 19-million shares in the early part of the year, the government has sold more than 25-million shares since May.