General Motors Shares Slide Despite Rising Profits

06/07/2011 05:18 pm ET | Updated Aug 07, 2011
  • David Kiley AOL Autos

The new General Motors today is holding its first shareholders meeting since emerging from bankruptcy in 2009 and issuing shares to the public last November. Not all the shareholders, though, will fit in the room: There are about 138 million of them.

That's because taxpayers in the U.S. still own 26% of the Detroit automaker, owing to the U.S. Treasury and Canadian government bailout of the company in 2009 with funds from the Troubled Asset Relief Program.

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