The United States Treasury Department is resisting General Motors’ push to sell its entire stake in the carmaker.
The U.S. Treasury kept GM afloat with a $50 billion bailout in 2009 and now owns 26.5 percent of the largest U.S. carmaker.
According to the Wall Street Journal, GM executives are frustrated with that ownership and with the nickname “Government Motors”. Executives believe that the U.S.’s shadow affects its reputation and the company’s ability to recruit talent because of pay restrictions imposed by the government. Executives are also unhappy with the continued restrictions on corporate jet use.
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