GM Goes Public Again


This morning, General Motors started offering shares for sale for the first time since it emerged from bankruptcy protection last year.

As of today, the U.S. taxpayers' stake in the company will drop by more than half. Because GM was able to command a higher price than it anticipated — launching at just over $35 instead of in the high 20s as many expected — it was able to raise a substantial amount for the federal government. As a result, the government’s portion of GM equity dropped from around 60% to roughly 26%.

Many who opposed the bailout have referred to GM as “Government Motors,” and that’s a label GM would like to lose for good. Still, the New York Times says, GM shares will have to trade north of $53 for the federal government to earn back all the money it poured into the Detroit automaker.

G.M. Shares Surge on Market Debut (New York Times)

By Patrick Olsen | November 18, 2010 | Comments (0)


Post a Comment 

Please remember a few rules before posting comments:

  • If you don't want people to see your email address, simply type in the URL of your favorite website or leave the field empty.
  • Do not mention specific car dealers by name. Feel free to mention your city, state and brand.
  • Try to be civil to your fellow blog readers. This blog is not a fan or enthusiast forum, it is meant to help people during the car-buying process and during the time between purchases, so shoppers can keep a pulse on the market.
  • Stay on topic. We want to hear your opinions and thoughts, but please only comment about the specified topic in the blog post.
view posting rules

If you have a TypeKey or TypePad account, please Sign In

Search Results

KickingTires Search Results for

Search Kicking Tires

KickingTires iPhone App