Government Motors Goes Public

[I AM NOT THAT GUY 5,715]

DETROIT (AP) - Thirteen months ago, General Motors was fighting for its life in bankruptcy court. Now, the automaker is laying the groundwork to sell stock to the public once again with the eventual goal of ridding itself of government ownership.

General Motors Co. filed the first batch of paperwork required to hold an initial public offering of stock late Wednesday. The 700-page document submitted to regulators laid out reasons, and risks, to investors considering buying GM stock.

The filing, called an S-1, was short on specifics. GM didn't say how many shares would be sold or when, although experts say the IPO could come as early as October. It also didn't say how many shares GM's majority owner, the U.S. government, plans to unload.

Such a sale would eventually lead to the government shrinking its big stake in the automaker, something GM is eager to see.

http://www.breitbart.com/article.php?id=D9HMAP700&show_article=1

[Deputy Purple 1,294]

Wait a minute....

I thought GM had commercials on TV that claimed they paid back every penny that the Government lent to them.

Oh, now I remember. Didn't the Government agree to a small bit of cash and the rest in stock. Then GM claims that you paid the Gov't off early. What a creative interpretation of the truth!

[BobandXiaomei 14]

Wait a minute....

I thought GM had commercials on TV that claimed they paid back every penny that the Government lent to them.

Oh, now I remember. Didn't the Government agree to a small bit of cash and the rest in stock. Then GM claims that you paid the Gov't off early. What a creative interpretation of the truth!

Oh but they did. Using the same accounting sytle that got them into trouble in the first place.

[Deputy Purple 1,294]

Oh but they did. Using the same accounting sytle that got them into trouble in the first place.

I guess we know where Enron's former accountants work now!!!!

[spookyturtle 9,466]

This is good news. It's good to see GM on it's way to recovery.

[Mr. Big Dog 10,747]

This is good news. It's good to see GM on it's way to recovery.

This ain't good news for the right fringe. They wanted GM to fail. They wanted them workers on the streets and in the unemployment lines so they can bash the administration even more for not doing enough to bring down unemployment. Once the government did step in to keep GM from going under, they wanted the government to keep their majority stake in the comapny so they can sit there and complain about the government now being in the autombile business. What they surely don't want is the strategy pursued by the administration to succeed. If GM succeeds, and all indications are that they're on the right track, the action taken by the Obama administration will be validated. Private sector jobs saved, people kept employed and in their houses. With the IPO, the taxpayer is actually on the way to be made whole on the deal and then some. That, while great for the country and the economy, is the worst outcome for the right fringe. They want America to fail.

[spookyturtle 9,466]

It certainly seems that there are a lot of Americans who want America to fail. I want the country to be successful and prosper. I think that most people don't know or remember when GM was the largest corporation and employed about 500,000. Poor managing for decades led to ruin. I want to see it successful again, along with Ford and Chrysler.

[Mr. Big Dog 10,747]

It certainly seems that there are a lot of Americans who want America to fail. I want the country to be successful and prosper. I think that most people don't know or remember when GM was the largest corporation and employed about 500,000. Poor managing for decades led to ruin. I want to see it successful again, along with Ford and Chrysler.

Word!

[one...two...tree 2,762]

It certainly seems that there are a lot of Americans who want America to fail. I want the country to be successful and prosper. I think that most people don't know or remember when GM was the largest corporation and employed about 500,000. Poor managing for decades led to ruin. I want to see it successful again, along with Ford and Chrysler.