GM's IPO

Look who is getting ready to get back into the stock market. GM is allegedly starting the work to become an IPO by the November election. IPO is an initial public offering.

Recall that GM was kicked out of the DOW after declaring bankruptcy. It was a huge deal with all kinds of jobs at stake and calls against the government for socializing corporations and such.

The filing before the election would be a boost for Obama. It would show that his economic policies have produced some benefit. It would also throw mud in the face of the rabid extreme right always quick to condemn. GM goes from bankruptcy to re-entering the market as a publicly held corporation.

Reuters: GM plans to file for IPO during week of Aug 16-sources

By filing with the SEC in August, GM is aiming to complete its IPO before the November U.S. elections...