GM IPO may still mean Government Motors

Discussion in 'Politics and other "Messy" Stuff' started by Nathan, Nov 15, 2010.

  1. Nathan

    Nathan Founder

    Mar 30, 2009
    Short North
    +10,050 / 0 / -0
    The GM IPO is slated for this coming Thursday and while this is the start of the US Gov't unloading their 43% stake in GM it looks like other governments may be picking up some rather large chunks of GM stock. Automotive News is reporting that China's SAIC Motor Corp Ltd that if approved by Chinese regulators will have them making up to a billion dollar purchase. The Wall Street Journal said several sovereign wealth funds in the Middle East and Asia are also expected to invest in the automaker's IPO, giving foreign investors an estimated 4 percent stake in GM.

    These announcements come on the heels of GM announcing they are getting back into IndyCar racing with Roger Penske by backing the building of engines by the Penske owned Illmor Engineering.

    So much for Baseball, Apple Pie and Chevrolet...I guess now it will be Baseball, Lo Mein and Chevrolet.

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