General Motors Plans For Initial Public Stock Offering – To Repay Bailout Money

General Motors is moving closer to terminating the term “Government Motors” as they filed plans to go public and begin selling common shares as soon as this Fall.

As you already know, GM has resurrected from bankruptcy and has come out a leaner company posting profits again. GM hopes to raise up to $16 billion in the stock sale which would be among the largest public offerings in history. The IPO will generally pay taxpayers back (recover from the 61% stake in GM) for the supplied bailout money.

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General Motors Posts $865 Million Q1 Profit

General Motors Co. has posted a first-quarter net income of $865 million putting them back on an expected turnaround for making a full year’s profit which they have not seen since 2004.

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GM to Announce Full Loan Payback Today

Ever had that great feeling of paying off a credit card or loan on your car? Well, that’s how General Motors will feel this week when they finish payments to the U.S. and Canada for the $5.8 billion remaining in loans from the original $6.8 billion borrowed.

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Koenigsegg Could Be Buyer of Saab

Speculation is arising that Koenigsegg, the Swedish supercar maker, is obtaining Saab from GM. As part of GM’s road back to financial health, they have slapped a for-sale sign on the Saab brand some time ago.

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GM Agrees to Sell Saturn Brand to Penske

Saturn owners are some of the most loyal automotive consumers that you will find. The initiation of that same type of loyalty was rolled out in a car company that was just “different” as their slogan stated at one time, “Saturn: A Different Kind of Car Company”.

Current owners of Saturn vehicles begged and pleaded for General Motors not to sell the brand off but despite all of the efforts and GM’s current bankruptcy status, the Saturn brand has to find a new owner. Since the bankruptcy status of General Motors has taken first place in recent news headlines, we witness massive changes in what was one of the biggest automotive companies around. General Motors has said today that they will agree to sell the Saturn brand to Penske. As you may already know, Penske is owned and run by entrepreneur Roger Penske, who seeks to purchase Saturn for $100 to $200 million.

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Hummer Brand Being Sold to Chinese Machinery Company

Just yesterday we announced General Motors filing chapter 11 bankruptcy and just today they have found a buyer for the Hummer brand. Hummer will continue to live on through a Chinese industrial firm.

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General Motors (GM) Files for Chapter 11 Bankruptcy

 

We all knew this was coming as it was only a matter of time unfortunately. General Motors or GM, has filed for bankruptcy today. The chapter 11 filing comes about as economic conditions continue to effect corporations not only in the United States, but around the world.

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GM Being Prepped for Bankruptcy Next Week

So you may think the government is going to run GM and Chrysler… you may be right.

The Obama administration is preparing to send GM into bankruptcy as soon as next week (May 25^th- 29^th). Under the plan it would include an additional injection of $30 billion in capital. What’s another $30 billion compared to the billions already spent to bailout other companies right?

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