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Senator Stabenow Applauds Treasury Announcement to Sell Remaining GM Stock


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U.S. Senator Debbie Stabenow applauded the announcement that the U.S. Treasury Department would be selling 40% of its remaining shares of GM back to the company.

"Today's announcement is welcome news for General Motors and a testament to the resurgence of the American auto industry," said Stabenow. "Some wrote off Michigan workers and auto companies and said we should let the American automobile and millions of jobs vanish. Instead, over a million jobs were saved, and more are being created as the American auto industry comes roaring back."

Sen. Stabenow championed the auto rescue, including giving the closing argument on the Senate floor in favor of saving the American auto industry.

Treasury's plan will result in complete divestment of GM stock by March 2014. More on the plan can be found here.

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