Treasury Considers Limiting Foreign Investment In GM IPO
Hide your kids, hide your wife, and hide your husband. News and further developments surrounding GM’s impending IPO continue to leak out and this time, it concerns The U.S. Treasury. According to reports, the Federal financial arm has recently voiced concerns about foreign investors potentially buying too many shares in our favorite automaker. Because of the issue, the Treasury is considering limiting foreign investments in General Motors. Say what?! Continue Reading.
Getting To Know General Motors CEO Dan Akerson
This is the week when Dan Akerson officially takes the helm as CEO of General Motors, replacing Ed Whitacre. In hindsight, the timing was fairly predictable, although not many expected it. Whitacre was never intended to lead The General’s charge for the indefinite future, as his task was to restore the company back to profitability and, given the past two quarterly earnings, he has succeeded.
The GM board of directors, on which Akerson has served since July 2009, knew they would need to officially reveal the next CEO. The job required somebody who could successfully market the company to potential investors when it was time for the all-important Initial Public Offering (IPO), something Akerson is more than capable of: he has the attributes that should sit well with the wealthy crowd, given that they didn’t watch their previous shares of GM vaporize through bankruptcy.
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Delphi Dump, Err, Plant Re-Examined As Casino Plans Drawn
With Toyota’s problems piling up, the press has been slow to unearth (quite literally) the latest discovery of The General’s corporate indiscretion, namely several decades of waste dumping at a former Ohio factory, the location of which is now being considered for a new casino. (more…)
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