U.S. Government Owns GM, but Don't Call it Nationalization

July 27, 2009

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To rescue the automaker from collapse, the U.S. government purchased sixty percent of General Motors (GM) stock. In less than a month, GM went in and out of bankruptcy. Government-appointed CEO Fritz Henderson says the “new GM” will be a leaner, greener company. Nancy Koehn, Professor of Business Administration at Harvard University's School of Business, says American's unease with a government-run GM is not surprising.