As part of GM's Chapter 11 filing today, you the taxpayer now own 60% of General Motors. Congratulations. But who owns the rest of the "New GM?"
The US Treasury will initially own 60% of the "New GM," while the Canadian and Ontario governments together have 12% in exchange for $9.5 billion in financing. The United Auto Workers' health care trust fund owns 17.5% and the remaining 10% is owned by unsecured creditors in the form of bondholders, they're also being given warranties for a further 15%. We realize that this only adds up to 99.5%, we're assuming some rounding knocked off that last half percent. [source: Detroit News]