Who Says The Auto Industry Is Back?

From The Detroit Free Press:

The U.S. Treasury Department boosted its estimate of government losses in the $85 billion auto bailout by $170 million.
In the government’s latest report to Congress this month, the Treasury upped its estimate to $23.77 billion, up from $23.6 billion.
Last fall, the government dramatically boosted its forecast of losses on the rescues of General Motors Co., Chrysler Group LLC and their finance units from $14 billion to $23.6 billion.
Much of the increase in losses is due to the sharp decline of GM’s stock price over the last six months.
GM closed Monday at $24.23, down 0.6 percent. It’s down 35 percent over its 52-week-high of $37.23, but the Detroit automaker has rebounded from a low set last year of $19.05. The government’s most recent cost estimate is based on GM’s closing price of $21.29 as of Nov. 30.