Our first of two articles on GM, begins here. Lately, Obama has been touting the success of GM - his only "success." But, what is the truth of his claims?

<<<  Picture from Huffinton Post along with its 5 reasons for not inventing in GM. 

Three years into their forced marriage with GM, the American taxpayers have seen the value of their investment in GM deteriorate by approximately $24 billion, largely due to continuing European losses. Exposure in Europe has contributed to crushing the value of GM's stock due to its chaotic and failing Opel unit in Germany. While government, journalists and Wall Street sympathizers have given the Obama Administration and GM leadership an almost incomprehensible pass on this value destruction and massive loss (presumably due to the macro-economic nature of the crisis), it's time to call for the accountability that this new Board was supposedly going to deliver . . . .  

GM's performance is an embarrassment to its Obama-appointed leadership and an indication that the Administration has not fixed the underlying problems there. Worse yet, when a possible solution to one of the biggest overhangs, GM Europe, was on the table, the new leadership nixed the deal. And now an unstable management team, which seems to be constantly reshuffling as it tries to find direction, does not inspire confidence. Unfortunately for the taxpayers, it appears the damage is done and the ability to pull out a recovery is all but passed. There is no reason to continue the market-timing gamble that sees taxpayer money risked on a company that should be allowed to sink or swim on its own, without government input. It's time to simply cut the losses and dump taxpayers' remaining stock and end this failed experiment once and for all. . . . .  you should read the full article at National Legal and Policy Center, here.  

Understand that GM stock, especially its IPO,  sold for 33 dollars per share nearly two years ago.  Today (8/27/12),  the stock is selling for $21.22,  a representative loss to the Obama Brain Trust of nearly 6.5  billion dollars if sold tomorrow morning.  Of course that is not going to happen,  but investors are buying and selling every day and all of this is under the banner of a huge financial loss to the taxpayers.  This is in addition to the $25 billion which will never be recovered for the taxpayers.