• 58
It looks like General Motors could file its first paperwork for an initial public stock offering as soon as next week. The IPO registration is the first step in the process of getting approval from the Securities and Exchange Commission to become a publicly traded company again. A stock sale could come as soon as November and probably no later than early 2011.

At this point it appears that most of the shares to be sold will come from the block held by the United States Treasury, which accounts for 60.8 percent of the automaker. The Treasury would like to start unloading its stake as soon as possible and preferably before this year's election. Roughly one third of the government's holdings are expected to be sold in what may well be the biggest IPO of all time. Depending on the IPO price, the sale could bring in anywhere from $10-20 billion for what would be about 20 percent of the company. At the time of its bankruptcy last year, GM's market capitalization was barely $700 million.

[Source: The Detroit News | Image: Stan Honda/Getty]


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 58 Comments
      • 5 Years Ago
      The future of GM? Bankruptcy or Profits? Based on recent developments, it is unclear if the company has dumped enough of its problems on the taxpayers to enjoy the possibility of a profitable future.

      As it is, the company has unloaded its retiree pension and healthcare benefits on taxpayers. Inasmuch as the company has already landed in bankruptcy due to its absurd generosity AND it still lacks truly new mangement, the probability of another bankruptcy is high.

      The Chevy Volt is GUARANTEED to fail.
      • 5 Years Ago
      Just mention GM and the trolls come out, geezus, give it a break.
      • 5 Years Ago
      So the government will now let Goldman Sachs make billions more with this IPO or whatever brokerage is going to handle this? because it's going to happen. This is too pathetic and fishy folks... GM is broke one year, goes BK the next, and now they are ready to go public again and everything's hunk-dory? The US Government is absolutely, and completely corrupt. The UAW is an F-ing joke, and King should be s*cking Obama's c@ck after this miracle financial bonanza it'll be for them.
        • 5 Years Ago
        There are places in this world where you would be on a government hit to do list right now.

        Let’s see, GT-R not ZR-1; see my prior comment, it is to those of your mentality.

        Go to Japan; their government is not corrupt (sarc).

        Please leave this country you hate so and don’t let the screen door hit you in the as&.
        • 5 Years Ago
        GM had acquired a massive debt load with absurd payout rates. The lenders kept lending and encouraging more lending because it had become almost a pyramid scheme of paying old debt with new at high rates.

        With bankruptcy most of that debt load was swept away. It isn't hard for them to have a radically different profit potential on just that alone. So yes, things can change overnight. Especially in the electronic/paper part of the economy.
      • 5 Years Ago
      the goverment should give the taxpayers 10 shares of the new gm stock for saving there butts. well im never going to buy another gm car again. a fromer saturn owner that has seen gm break they promise to compete with the Japaness and never grow the saturn brand by imporoving the cars year after year. hope they fall on there face
      • 5 Years Ago
      So GM is going public, again! Well what's going to happen when burn through their stack of cash? Bailout 2? Oh I forgot, the UAW are going to picket Toyota dealers and the US government will dig up some more dirt on Toyota, you know, just to keep the playing field level. If Honda or some other competitor gets too big for it's boots well they can sign up for some Toyota treatment too. So much for a free market economy. If GM survives (which it wont), it will not because they built, build or will build superior quality vehicles, it will be because the union thugs got their bought-and-paid-for goons in government to torpedo the competition. Sorta like what the North Korean's like to do. Mr. Stalin and mr. Marx would be proud.
      • 5 Years Ago
      The new symbol could be "BK", "FED", or if it will be on Nasdaq "FAIL".
        • 5 Years Ago
        First Federal Financial Corp and The Bank of New York Mellon Corporation wouldn't appreciate your lame joke.
        • 5 Years Ago
        The mom"s and dad's of your associates over there didn't do to well in the 40"s; good thing we were there to bail them out or right now insted of saying things that are putting down America you wold be saying:

        "Kann ich dringende Bitte live einen anderen Tag mein furer". Au revoir.
        • 5 Years Ago
        So according to you haters:
        The American government sucks
        The American President sucks
        The American Car companies suck
        And we as American workers suck.

        Well you know what doesn’t suck? American airports.
        Go to one; get on a plane and get the f… out of MY country you POS’s.

        Imagine, putting down every aspect of your own country; putting down your own government and leaders.

        Putting down the companies you mothers and fathers built because you fell for some hype that you saw on TV instead of praising our accomplishments and trying to make it better.

        You are the worst bums that God ever put breath in. Get out, get out now.
        • 5 Years Ago
        @GMuberalles +1 - well said, brother, very well said.

        @Sea Urchin - drop dead.
        • 5 Years Ago
        Urchin, the level of your stupidity makes Forrest Gump look look like Einstien.
        • 5 Years Ago
        Haters gonna Hate.
        • 5 Years Ago
        The above was to Sea urchin
        • 5 Years Ago
        @GMuberalles excellent post! I am not American but I have to agree. Why is it so popular to dump all over your own culture and traditions these days. If people spent half the energy working to make things better that they do complaining there would be nothing to complain about.

        @Salop Urchin C'est domage mon ami. Tu ne parle pas francais. Tu est un Troll!
        Mark Skubicki
        • 5 Years Ago
        Right on the only reason this failed company is allowed to thrive is that the Obama thug
        wants his Union thugs to collect their insane extortion level salaries, benefits packages.
        When buying a GM car(or Chrysler), that sells for 30,000 you are buying a 20,000 car an a 10,000 kickback to the wastes of genetic material union thugs.
        • 5 Years Ago
        Ok, you have to give Sea Urine some credit. He is being witty. I thought the GOV symbol was kind of funny.
      vm3041
      • 5 Years Ago
      Lol, no, I am not Michelle Obama, not even close.
      • 5 Years Ago
      $700 million at time of bankruptcy, $10-$20 billion estimates for IPO... Even if the IPO generates $5 billion, would that mean that a profit has been made on the money lent ?
        • 5 Years Ago
        700 Mil wasn't the money lent. It was the estimated stock worth. The government lent/gave over $40 bln. This IPO amount won't cover it, but this IPO amount is the not the full amount the government currently has. But if the estimated value of what they do release is correct, the amount of money given could be paid back in full with some pocket change left over.

        But since the detracters were able to spin GM giving $5 bln back as somehow not giving anything back, if GM is short one dollar, they'll have never paid a dime back when the spinning is done.
      Tmccrider2
      • 5 Years Ago
      Bring back Hudson, nash, studabaker.
      vm3041
      • 5 Years Ago
      Uh, wow, just read all 69 comments and I have never been as embarrassed to call myself an American as I am when reading the majority of the posts. America is where it is because of the AMERICANS that live here. If you don't like what you see, stop blogging about it and get off your lazy butts and do something about it. You all seem to be able to talk the talk, but don't have one iota of an idea of how to walk the walk.
      vm3041
      • 5 Years Ago
      Lol, no, I am not Michelle Obama.
      • 5 Years Ago
      Why do they keep using the picture with all Nissans in it?
    • Load More Comments