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The News From Automotive News - WASHINGTON (Reuters) -- The Treasury Department said today it will begin another round of sales of the General Motors Co. stock it acquired during the government's bailout of the U.S. auto sector. The move follows a registration statement by GM last month making it easier for the Treasury to sell its remaining 241.7 million shares, or nearly 18 percent, of common stock of the No. 1 U.S. automaker. It also will bring GM a step closer to eliminating the stigma of its government ownership. GM executives have chafed under the tag of "Government Motors" since its 2009 government-sponsored bailout and bankruptcy that left the U.S. Treasury with 60.8 percent ownership of the Detroit automaker. After GM's November 2010 IPO, the Treasury's share of GM's common stock fell to 32 percent. Last week, GM came within 56 cents of its IPO price of $33 after it reported better-than-expected first-quarter earnings. "We are pleased with the progress to date and will continue exiting this investment in accordance with our previously announced plan and timetable, and in a manner that maximizes returns for taxpayers," Tim Massad, Treasury assistant secretary for financial stability, said in a statement. In December, the Treasury said it would fully exit its GM investments within the following 12 to 15 months, "subject to market conditions." But it gave no specific dates for the resumption of share offerings. Also in December, GM repurchased 200 million shares of its common stock from the Treasury. At the time, Treasury said the sale was for $5.5 billion. By the end of March, the U.S. government had recovered $30.4 billion of the $49.5 billion used to bail out GM under the Troubled Asset Relief Program, the TARP special paymaster said recently. It is unlikely that the taxpayers will be fully repaid for the TARP bailout as Treasury exits. Treasury officials have said the goal was not to turn a profit on owning GM shares, but rather to save U.S. jobs. Executives at GM have said that putting this issue behind them will improve the company's image and boost sales as they believe some consumers have held the bailout against them. GM today offered no fresh comment to the Treasury move. A spokesman said the company stood by the comments of CEO Dan Akerson from last December. Akerson at the time said Treasury's move to exit GM ownership "is an important step in bringing closure to the successful auto industry rescue," and "further removes the perception of government ownership." The automaker's shares were not much moved by the news. GM shares fell 27 cents to close at $31.83 today on the New York Stock Exchange. While Treasury now owns nearly 18 percent of GM shares of common stock, its ownership is about 16.4 percent of GM's diluted shares. Ford v. Government Motors Ford Motor Company saved itself the old fashioned way - it had enough foresight to borrow $23 billion and invested in new engines (ecoboost) and new products (entire lineup is new in five years since 2008).    This last quarter (Q1 2013), Ford had double the effective profit of Government Motors and did so on about 10% fewer units sold.   Leave it to Government to invest in the loser and still failed company. On balance Ford is more profitable, more efficient, has more modern powertrains and has more modern technology.   It has the best selling vehicle in the world (Ford Focus) and best selling vehicle in the United States for over 34 years (Ford F-Series).    Its latest hybrid, the Ford C-Max has outsold the Chevrolet Volt EVERY MONTH it has been on the market and sales continue to build. Ever since 2008, Ford has continually out-earned Government Motors - each and every quarter the company that saved itself has done BETTER than the company that the taxpayers were FORCED to save.   And a little know fact is that Ford, Honda, and Toyota had a plan to save ALL suppliers and the related jobs and GM refused to participate before they went bankrupt.    The very reason that was given to save GM was to save jobs and GM intentionally subverted a private option plan that would have saved the company without taxpayer dollars! The Reality This article gives you some of the information about the Government Motors deal, but it leaves out significant FACTS that should cause taxpaying Americans (50% of the population that actually pays income taxes) to want to scream bloody murder! According to CBSNews on April 10, 2013, for the American taxpayers to be made whole just on the $49.5 billion GIVEN to the failed automaker, GM, the remaining shares of stock now lingering like a pile of ripe dog crap would have to be sold for $75 dollars each. At the close of business today, Government Motors shares were selling for $31.83.    The American taxpayer is going to get soaked to the tune of $43.17 on each share. This same source also contradicts the Automotive News report about outstanding shares - CBS notes that 255 million shares are outstanding and that will be the figure that I report as FACT. The Stock Sale Soaking The American Taxpayer stands to lose $11,008,350,000 (that's $11 billion or nearly 25% of the initial investment) just on the stock sale.    But Wait!   There's More Bad News Since the ENTIRE GM bailout was deficit spending, the bailout cost us interest that we had to pay on the full balance and then the incremental balances thereafter.   And we will be paying interest on the unpaid $11 billion for eternity since it will never be paid off. Interest costs to carry the entire $49.5 billion in debt used to bailout GM for approximately 2 years was at best $1 billion per year.   Then there was a sell down in stock over several increments.   For the sake of ease in understanding, let's say that $500 million in the two successive years was accrued in interest.  But Wait!   Even More Bad News! The unethical and unprecedented bankruptcy proceedings that allowed Government Motors to take all of the un-used loss credits of a defunct company (without paying for them) means that Government Motors has $24 billion in losses to use to offset against future profits.   Since tax offsets mean lost revenue for taxpayers due to lower taxes paid, this will cost us $24 billion in taxes. More Insanity We have not even factored in administrative costs associated with creating the bailout plan.   We know that this government does nothing cheap so let's book $1 billion for related costs of forcing GM into bankruptcy. Net Screwing of the Taxpayer Losses from stock sales:  $11 billion Interest costs to date:  $3 billion Unlawful loss credits: $24 billion Administrative costs: $1 billion TOTAL COSTS TO DATE:  $39 billion Interest costs on all costs for the next decade at current rates of interest $7.8 billion TOTAL DECADE COST $46.8 billion We could stand to lose every penny we invested into Government Motors. We Saved Jobs? Please consider these FACTS.... $2 billion of the $49.5 billion of American Taxpayer dollars was diverted to Germany to prop up Opel - a division of GM in Europe. $5-7 billion has been diverted by Government Motors to expand production in CHINA! In June 2012, Government Motors Chairperson Dan Akerson says that 70% of Government Motors' production is done overseas! The only party in the GM bankruptcy that made money was the UAW who replaced stock and bond holders as the group to be paid first turning bankruptcy law on its head.   The UAW donates money to the Democrat National Committee who is the party in power in Washington.   Coincidence? And, even more shocking - GM went bankrupt - President Obama FORCED GM into bankruptcy to save the UAW donations - Mitt Romney advocated a controlled bankruptcy using private financing - Obama saved half of GM.   Pontiac, Saturn, and Saab were killed off and HUMMER was sold at a loss to the Chinese.    And we will be screwed for every penny of the $49.5 billion we invested in a company that under-performs EVERY year since!