33 Articles
Report
GM stock prices finally eclipse $33 IPO price

General Motors has reached an important milestone this morning: the price for one share of the company has climbed to over $33. That's higher than the Initial Public Offering price from 2010. At roughly 12:15PM Eastern today, GM shares were up $0.97 on the day, some 2.99 percent, for a total of $33.36. The Detroit Free Press

Report
Feds expect greater loss on auto bailout

The saga of the U.S. Treasury's involvement with General Motors has become the theater of call and response: the call is Treasury announcing how much it stands to lose on its bailout of GM, the response is a turgid chorus of "Government Motors!" and "They should have died!" peppered with a few defenders trying to make themselves heard. Well, here we go again, since the latest Treasury report filed state

Report
Treasury has no plans to sell remaining GM stock quite yet

General Motors stock has been languishing for months, failing to climb past $30 per share since July of last year. Trading at around $22 per share today, the optimism that surrounded the company's emergence from bankruptcy and initial public offering

Report
One year after IPO, GM stock is down by a third

It's been a full year since the General Motors Initial Public Offering, and the company's stock isn't performing as well as anyone in Detroit or Washington, D.C. would like. As The Detroit News notes, the stock has dipped by 30 percent from its initial price, thanks in part to troubles in Europe and internal dissatisfaction with the company's profit margins. As of last Wednesday, the company's stock fell by 10.9 percent to $22.31

Report
U.S. hesitant to sell its GM stock due to low price

The United States government still has a vested interest in the success of General Motors. In fact, the U.S. government is sitting on 500 million shares, which are currently worth about $14.3 billion dollars based on current prices. There is a problem, though, as the U.S. Treasury Department was hoping to get a larger pile of green for its GM investment.

Report
Delphi files for $100 million IPO

2009 was a rough year for most companies in the automotive industry. Delphi, a major automotive parts supplier, saw things a little differently. After entering bankruptcy in 2005, Delphi was able to climb out of its Chapter 11 hole in 2009. Now, two years later, Delphi is heading to Wall Street, and it looks like the parts supplier is about to make it rai

Rasmussen Reports: More Car Buyers Looking For "American"

A Rasmussen Reports poll fielded in November – before General Motors' IPO – finds a rise in the preference of "American-built" vehicles, as well as a willingness to accept U.S.-built Toyota and BMW products as the same as buying an "American" product.

GM blue-block logo is down, but not out

GM's Renaissance Center headquarters shortly before the new sign was unveiled

Report: Saudi prince claims to own 1% of GM

The dust is beginning to settle around the General Motors IPO, and we're finally getting a sense of exactly who is holding onto big slices of the company. The New York Times is reporting that Saudi Prince Walid bin Talal has managed to snag a full one percent of the automaker with a massive $500 million investment. The prince has a long history of backing various American companies through Kingdom Holdings, including Citigroup. T

Former Car Czar Rattner settles with SEC, sued by Cuomo

Former White House Auto Industry Task Force member Steven Rattner is being sued by New York State Attorney General and Governor-elect Andrew Cuomo for allegedly paying kickbacks to win investments in the state's pension fund.

GM stock opens up, revving Camaro accompanies opening bell

All of General Motors' top brass were in person on Wall Street this morning to witness the company's return to public life. In fact, GM took over the New York Stock Exchange with a giant banner hung on the outside of the building and the revving engine of a Chevrolet Camaro SS accompanying the traditional morning bell that opens trading at 9:30 AM. John Neff

GM raises stock prices and increases size ahead of IPO

If you've been squirreling away your pennies in anticipation of General Motors' IPO, we've got news for you. The company released a statement this morning announcing that it has increased its stock price from $26 to $29 per share to $32 to $33 per share. Additionally, General Motors is now planning to offer 80 million shares worth of junior preferred stock at a combined value of $4 billi

Report: Ralph Nader urges government to postpone GM IPO

Ralph Nader has written a letter to President Barack Obama, urging him to delay General Motors' IPO. According to The Detroit News, his fear is that the automaker is still the "same old arrogant GM" and that the government stands to lose a bundle on the sale of its stock.

General Motors announces Q3 profit of $1.96 billion ahead of IPO

General Motors posted its last financial report before the company's initial public offering of stock next week. In it, the company reported that in the third quarter of 2010, it earned a net income of $1.96 billion on a total of $34.06 billion in revenue. That puts the automaker's 2010 figures at $4.16 billion of net income on $98.17 billion in revenue, though GM does say th

Autoblog Podcast #203 - SEMA, Mercedes CLS Shooting Brake and money for Chrysler and GM

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Report: China's SAIC Motors will buy shares of GM IPO

While General Motors may be jetting around the globe in an attempt to woo investors, one company has made it clear it wants to snap up plenty of GM stock once The General goes public. Chinese manufacturer SAIC Motor President Chen Hong is currently in the States to negotiate with the American automaker about procuring GM shares. His company currently packs around $5.7 billion in cash or cash

GM to buy back $2.1 billion of Preferred Stock, improve financial position

General Motors has just announced a series of actions intended to improve its financial position and make it more attractive to investors ahead of its Initial Public Offering. Perhaps the most intriguing is word that it plans to purchase $2.1 billion of Preferred Stock from the United Stated Department of the Treasury at a sum that is $700 million more than the recorded value of those stocks.

Will GM's electric vehicle policy be dictated by the success of its IPO?

2011 Chevrolet Volt – Click above for high-res image gallery

Will GM's EV policy be dictated by the success of its IPO?

2011 Chevrolet Volt – Click above for high-res image gallery

Is the New GM a Buy?

After next month's elections, General Motors will rev up its engines to go on the road and try and sell its initial public offering of common stock to savvy investors, especially the big institutional investors with millions of dollars, hundreds of millions in some cases, to put into a stock they like.

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