Washington — The Obama administration said Wednesday it will sell 200 million shares — or 40 percent of its remaining stake in General Motors Co. — back to the automaker and announced plans to completely exit the Detroit automaker by March 2014.
The Detroit automaker said it will purchase 200 million shares of GM stock held by Treasury for $5.5 billion — or $27.50 per share — nearly $2 above the stock’s closing price on Tuesday. GM shares jumped sharply on the news and were up 7.5 percent to $27.36, or $1.90, early afternoon in very heavy trading.
The U.S. Treasury, after more than a year of refusing to say when it might start selling its remaining stake in GM, said it willannounce a written plan in January to shed its remaining 300 million shares over the next 12 to 15 months, likely in a series of small stock sales.
The Treasury’s move is intended to minimize the impact of the stock sale on the share price — and the government’s state will shrink from 26.5 percent to less than 19 percent — but the exit could be completed far more quickly.
The exit plan may prove to be a boost to GM’s lagging stock price and to some car buyers, who have avoided GM because of the “Government Motors” label.
Read More at detroitnews.com . By David Shepardson.
Photo Credit: Geoff Livingston (Creative Commons)








Corrupt Media Cheer For Homosexual Rights
More explosive evidence of the media bias driving the campaign to change America’s culture and Judeo-Christian foundations has emerged.
Speaking at a “gay journalists” event in New York City last Thursday night, Natalie Morales of the NBC Today Show declared: “Many of us here in this room—the media—we are responsible for opening the world’s eyes to these issues and the stories that have brought about such change. When you think 18 years ago when this organization was founded—think of where the country was back then. And now, 50 percent—according to the Pew poll that we talked about on the news today—support gay marriage, and…some other polls put that number even higher. [This] reflects a change in attitudes in this country.”
This was not just an event where journalists “came out of the closet” for homosexual rights; it was a fundraiser for the cause. Our media paid big money to participate as sponsors and hosts.
My associate Peter LaBarbera and I covered the homosexual rights fundraiser, held in New York City under the auspices of the National Lesbian & Gay Journalists Association (NLGJA), and saw first-hand that it was a “who’s who” of media stars from every major news organization in the U.S. They included Matt Lauer and Savannah Guthrie of NBC, Gayle King of CBS News, Christine Romans of CNN, Amy Robach of ABC News, and Amanda Drury of CNBC.
The really big star of the evening was Natalie Morales of NBC’s Today Show, who told LaBarbera in a brief interview: “I think what’s happening here is this is a new civil rights movement…And I believe that they should be allowed to get married and love equally.”
In her remarks to the gathering, she joked about getting a lesbian kiss. “Now I have to say I’m a little flustered because on my way in here I was actually in the ladies room, and making out with a woman,” she said at the start of her remarks. “She insisted I was Jane Velez-Mitchell [of HLN]…Seriously she was screaming and shouting, ‘Jane, Jane, Jane!’ And I was like ‘I’m not…’ But I just gave in because we all know HLN stands for the ‘Hysterical Ladies Network.’ And …it was a good kiss, I’ll give her that.” She also commented on the “queens” in the audience of the reception being held in the Prince George Ballroom. CNN’s Javier Morgado introduced her.
While the atmosphere was festive and “gay,” the New York papers were catching up with news about a new strain of bacterial meningitis breaking out in the gay community. This was something that nobody wanted to talk about, at least publicly.
Contessa Brewer, formerly an anchor at MSNBC, was a major star, posing for pictures before declaring her support for homosexual rights and homosexual marriage and denouncing opponents of such as the equivalent of racists. She wanted my associate Peter LaBarbera to know, in a brief interview captured on camera, that she felt this way even though she was the daughter of a Baptist preacher.
Here is the transcript:
NBCUniversal was the big host, with other media sponsors Bloomberg, CNN, CBS News, Fox News, BuzzFeed, The New York Times, and Newsday. Company sponsors were Vodka maker Voli, JetBlue, Heineken, Hillshire, Eli Lilly and Company, General Motors, the Greater Philadelphia Tourism Marketing Corporation, and Fleishman-Hillard.
The new president of the NLGJA is Jen Christensen of CNN, who previously worked on CNN’s “Special Investigations Unit.” She says, “We are not an advocacy group,” referring to the NLGJA. But the entire evening was advocacy. There was no pretense of being even-handed in covering the homosexual rights movement, of which they are clearly a major part.
It is worthwhile to examine the nature and depth of the bias as the Supreme Court takes up important court cases on homosexual rights because of the influence of the major media in bringing the country to this point in time. This event was concrete evidence of the bias from those in the media who have driven the campaign for homosexual rights for decades.
Morales was ecstatic: “What a difference a year makes. Think about where we were just even a year ago—all that has happened in the news for the LGBT [Lesbian, Gay, Bisexual, Transgender] community in particular: the repeal of the military’s ban on gays and lesbians, the widening support for same-sex marriage. The world seems to be evolving slowly but surely—from the President changing his position [on same-sex marriage] last year, to most recently this week…former Secretary [of State Hillary] Clinton now saying gays and lesbians are full and equal citizens and deserve the rights of citizenship. And last week of course Republican Senator Rob Portman said he now supports gay marriage because he wants his son, who is gay, to have the same rights to love equally. I mean this of course is 2013 but it is happening.”
Even though this event featured all kinds of media celebrities, you will not find the media reporting on themselves because it would blow their cover—and blow the whistle on the bias they are implementing on a day-to-day basis. That is why Peter LaBarbera and I covered the event. We figured the media would not hesitate to pat each other on the backs.
Now that the nature of the bias is evident for everyone to see, however, the bias will take another turn as journalists will ignore the evidence that the major media have taken one side of the debate. What is significant is the lack of any real major media opposition to this bias.
Photo credit: wstera2 (Creative Commons)