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Carlos Osorio/APOTTAWA – The Harper government’s push to deliver a balanced budget despite the burden of low oil prices has attracted fresh attention to a potential stockpile of federal cash: a multi-billion-dollar taxpayer stake in the auto business.
The government’s remaining 73.4 million shares in General Motors are now worth more than $3.4 billion in total, thanks to the combined effect of a solid stock price and a weakened Canadian dollar.
In fact, once the Canadian exchange rate is factored in on the U.S.-priced stock, its per-share value is higher than it has been in more than five years.
The government needs to make $4 billion in proceeds from its remaining shares to break even on its initial investment, which would leave it only $600 million short if it sold the stock at current values.
Earlier this month, Ottawa became the only North American government still holding stock acquired as part of the 2009 effort to bail out the then-sputtering automaker.
Ontario’s recent sale of its last GM holdings may add to the federal government’s temptation to offload some — or all — of its own stock…
4.5 year – 2.50%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-06-13. Click on the link above to get more details or apply online.
90 days – 1.75%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2014-12-19. Click on the link above to get more details or apply online.
Ottawa’s multibillion-dollar stake in General Motors could help slay the deficit
– canadianbusiness.com
OTTAWA – The Harper government’s push to deliver a balanced budget despite the burden of low oil prices has attracted fresh attention to a potential stockpile of federal cash: a multi-billion-dollar taxpayer stake in the auto business.
The government’s remaining 73.4 million shares in General Motors are now worth more than $3.4 billion in total, thanks to the combined effect of a solid stock price and a weakened Canadian dollar.
In fact, once the Canadian exchange rate is factored in on the U.S.-priced stock, its per-share value is higher than it has been in more than five years.
The government needs to make $4 billion in proceeds from its remaining shares to break even on its initial investment, which would leave it only $600 million short if it sold the stock at current values.
Earlier this month, Ottawa became the only North American government still holding stock acquired as part of the 2009 effort to bail out the then-sputtering automaker.
Ontario’s recent sale of its last GM holdings may add to the federal government’s temptation to offload some — or all — of its own stock…
The government’s remaining 73.4 million shares in General Motors are now worth more than $3.4 billion in total, thanks to the combined effect of a solid stock price and a weakened Canadian dollar.
In fact, once the Canadian exchange rate is factored in on the U.S.-priced stock, its per-share value is higher than it has been in more than five years.
The government needs to make $4 billion in proceeds from its remaining shares to break even on its initial investment, which would leave it only $600 million short if it sold the stock at current values.
Earlier this month, Ottawa became the only North American government still holding stock acquired as part of the 2009 effort to bail out the then-sputtering automaker.
Ontario’s recent sale of its last GM holdings may add to the federal government’s temptation to offload some — or all — of its own stock…
40 days – 2.75%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 0000-00-00. Click on the link above to get more details or apply online.
