"The Treasury, which rescued GM with a $49.5 billion bailout and once held a 61 percent majority stake, "will likely look at another (stock) sale in August, after second-quarter earnings are announced, Akerson said.
The Obama administration has made clear it is eager to exit GM — but hasn't laid out a precise timetable.
Asked if GM is considering buying back its stock, Akerson paused for eight seconds before declining to answer directly. "But we have a lot of cash," he added.
At the current stock price, U.S. taxpayers would be out more than $12 billion on GM's bailout. Still, Akerson believes that, in the end, taxpayers will see the government made the right call in saving the automaker, as well as crosstown rival Chrysler."
What a joke!!