And for another reason why we can’t afford four more years of Barack Obama, General Motors again appears headed for bankruptcy.
Forbes.com is reporting that the company is continuing to lose market share and its stock price of $20.21 per share (as of Aug. 14) is 39 percent less than what it was on its heralded IPO oon Nov. 17, 2010 when it was selling for $33 per share.
Forbes is predicting that if things stay as they are the company will go bankrupt again and need another bailout within the next four years.
The government owns 500 million shares of GM which is 26 percent of the company so as of Tuesday the unrealized loss to the taxpayers was $16.4 billion.