G.M. CEO to feds: We’re tired of being “Government Motors” so how about selling your shares?

Hot Air ^ | 8/7/2010 | Allahpundit

[Nachum]

They’re preparing an IPO and want the feds’ shares — all of the feds’ shares — to be part of it. Treasury’s considering it, but you know how it is: Once you’ve got hold of something special, it’s … so hard to let go.

“We want the government out, period,” Mr. Whitacre said in comments after speaking at an automotive conference in northern Michigan. “We don’t want to be known as Government Motors.”…

Eliminating government ownership, he said, would be good for employee morale and would improve G.M.’s image. While unusual, selling all the shares during an initial offering is not unheard of. The credit card giant Visa raised about $19 billion during an offering in March 2008. The risk of a large offering, analysts said, is that interest among buyers could wane as the sale approaches, causing the price to fall. A Treasury spokesman, Mark Paustenbach, declined to comment on Thursday. The department issued a statement in June saying that G.M. would control the timing of the offering but that the Treasury would “retain the right, at all times, to decide whether and at what level to participate in the offering, should it occur.”…

Mr. Whitacre dismissed concerns by some analysts that G.M. was moving too fast. Many have speculated that the Obama administration, whose decision to help G.M. and Chrysler last year was widely unpopular, wants the offering to occur before the November elections.

[Nachum]

And when they do, the mission will be complete. Billions lost to the taxpayer and Union ownership of GM. I will NEVER buy another GM product. Ever.

[HiTech RedNeck]

An all union owned GM which really, truly was not in hock to Uncle Sam wouldn’t be the worst thing in the world. The union would then have to eat its own dog food.

[Vince Ferrer]

Fine, but next time no bailout though.

[April Lexington]

I'm needing a new Cadillac soon but there is absolutely no way I'm buying a car from Obama... Not going to happen. No how. No way...

[3boysdad]

Ditto. I too will never buy a GM product ever again. Ever!

F^ck em.

[BobP]

...Billions lost to the taxpayer and Union ownership of GM

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They don’t call Zer0 Zer0 for nothing. Zero has zero understanding of the Capitalist system. Everything he knows about Communism is make believe designed to take down the Free World during the Cold War.

The libturds built Zer0 up as their messiah, and now he's looking like a one-term failure who will have a worse reputation than Jimmy Carter.

The 'working man' has been pushed into a corner. His savings are gone, his children's futures are being destroyed for no good reason. And it won't get better until the foriegn occupier is out of the White House.

We expect a leader to be effective in his job, not just a public relations artist who is "all hat and no cattle."

WAKE UP AMERICA!

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Obama, all hat and no...

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[Nachum]

How about a Lincoln?

[Nachum]

http://www.lincoln.com/mkz/home.asp

[Frantzie]

F GM! GM is owned by the UAW scum. The bond holders were cheated and the common stockholders took it in the neck. Common usually gets wiped out but the theft from the bond holders never happens in a country with laws.

GM can go to hell along with Chrysler.

[April Lexington]

Never been a Ford guy but, as of now, its the only patriotic choice. I hear this is the last year for the Town Car. I'm not crazy about supporting the Germans (even though I am one). And the Jag just isn't the car it used to be (which may be a good thing...) SO, I guess I'm walkin’

[csense]

“We want the government out, period,” Mr. Whitacre said

Looks like Mr. Whitacre has just resigned...

[TigersEye]

The devil don’t give refunds, son.

[When do we get liberated?]

I have owned 27 GM cars and there is no way in hill I will own 28. Even though that Camaro calls me...Guess there is a 5.0 2011 Mustang in my future!

[The Comedian]

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[Vendome]

Frickin Ponzi Scheme.

Sell it back to GM and let’s get this over with.

That Volt is a dog of car and no one is going to buy that POS, unless they like the smell of crap.

[rawhide]

Why would any investor buy GM stock, since the government can step in and declare how much you will get for these shares, if GM starts to go under again?

[Vendome]

Can’t you make something out stone and wood? Like the Flintstones?

[Spktyr]

Go look at the Hyundai Equus and Genesis.

[J Edgar]

LOL
Sure the day CommieCrate give up control of anything voluntarily is the day Lenin rises from the dead! Ain't going to happen.

[Psycho_Bunny]

I already gave GM money and didn’t receive a car so, they can go to hell.