According to Neil Barofsky, the treasury department's inspector general, in order for the U.S. government to break even on its investment in General Motors, the company's stock will have to hit at least $133.78 a share. Thanks to the massive auto industry bailout, the government currently holds a total of 304 million shares of common stock and $2.1 billion in preferred stock in the automaker. According to The Detroit News, Barofsky has said that he will keep a close eye on the GM IPO in order to
According to The Wall Street Journal, members of the U.S. Treasury are worried about General Motors' upcoming IPO. They aren't concerned for the automaker's stock price, or how even how many investors may decide to buy into the company – they're concerned about what country the money is coming from.
Now that General Motors has submitted the necessary paperwork for its IPO to the SEC, Forbes read through the entire 734 page filing and found this curious tidbit: "We have determined that our disclosure controls and procedures and our internal control over financial reporting are currently not effective." And yes, that means exactly what you think it means.
Bill Ford, executive officer for Ford Motor Co., seems to be taking a fairly realistic stance when it comes to arch-rival General Motors releasing its IPO. While speaking at the kickoff of this weekend's Woodward Dream Cruise, Ford said that he was certain that some of his company's investors would likely move to GM, but he isn't entirely concerned. Even though Ford stock has slid off from its 52-week high of $14.57 recently, the company's executive officer said that he doesn't spend his time fr
Yesterday, General Motors finally submitted its S-1 document to the Securities and Exchange Commission as the first official step towards becoming a publicly traded company again. As we found when Tesla went down this path earlier this year, an IPO means a company has to outline the potential pitfalls it faces going forward in addition to all of the positive moves it plans to make.
At this point, the only thing we know for sure about the General Motors initial public offering is that it will happen... eventually. With the United States government holding a 61-percent equity stake in the automaker, the political pressure is huge to make a stock sale occur sooner rather than later.
A year ago, General Motors needed a $50 billion U.S. government bailout to stave off liquidation. One year later, the Detroit-based automaker is on the precipice of filing for one of the largest initial public offerings in American history. Automotive News quotes unnamed sources who claim GM will file with the Securities and Exchange Commission by August 16. These anonymous sources reportedly added that the goal is to complete the company's IPO before the November elections - unsurprising when y
At some point in the not too distant future, General Motors will return to being a publicly traded company, with the timing likely to be based in part on both business and politics. In May, the automaker began soliciting investment banks to handle the sale of its stock. With what will likely be one of the largest public stock offerings of all time, the banks are undoubtedly salivating at the potential fees they will collect in the process.
Another piece of General Motors' IPO puzzle has been solved: in spite of CEO Ed Whitacre's desire to add a captive finance arm to GM's operations, the company looks set to go without. Acquiring in-house financing always stuck out in Whitacre's aggressive battle plan for getting an IPO done later this year and the hurdles of getting back in with GMAC required untangling enough knots to make King Gordius say, "Skip it..."
General Motors – or perhaps it was all those sources 'in the know' – had their drums beating about a possible IPO filing as early as last week. Here we are a week later and there's still no firm sign of a stock offering. Reuters, quoting a "source familiar with the situation," now reports that the filing has been pushed back to August due to some financial loose ends that GM would like to address before setting its shares free.
Soon-to-depart pay czar Kenneth Feinberg limited the cash remuneration available to General Motors executives, making stock options a go-to supplement for company leaders. It was reported last month that GM would hand out enough shares to top brass to create a $13 million payday for those on the list, with the windfall being totally dependent on the share price when the inevitable IPO hits.
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.
It pays to be an executive for General Motors. Actually, scratch that... it will soon pay to be an executive with General Motors, assuming that the automaker's upcoming Initial Public Offering takes place according to plan. According to our friends at TheDetroitBureau.com, a dozen top officials at the company could be looking at a payday totaling as much as $13 million or more, depending on the value of GM stock after the IPO.
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models