Treasury Is Said to Pick Lead Bank for GM Offering as Soon as This Week

[camaro5]

The U.S. Treasury and General Motors Co. may choose a lead underwriter for the automaker’s initial public offering as soon as next week, two people familiar with the matter said yesterday.

GM, 61 percent owned by the U.S., must decide soon on an underwriter in order to sell shares publicly by the fourth quarter, said the people, who asked not to be identified revealing private information. The Treasury, which helped pay for the automaker’s restructuring last year, probably will have more say than the automaker in the selection, the people said.

Chief Executive Officer Ed Whitacre, appointed chairman when GM emerged from bankruptcy in July, has said the automaker may sell shares to the public as early as this year. GM needs to begin shortly to sell stock before the Nov. 2 congressional elections, said Joe Phillippi, president of AutoTrends Consulting in Short Hills, New Jersey.

http://preview.bloomberg.com/news/20...next-week.html

Get your mice ready guys and gals!


c

[Apex Motorsports]

Thats good the hear. They need to be free of the .gov as soon as possible.

[Captain Awesome]

Originally Posted by Apex Chase

Thats good the hear. They need to be free of the .gov as soon as possible.

Not gonna happen anyime soon unless you've figured out a way to get the courts to uphold that the secured creditors should have been served before the unsecured creditors. We're going to be suffering from the illegal way the company was divided up for decades.