A source "close to the situation" confirmed that General Motors are planning to list on the New York Stock Exchange and the Toronto Stock Exchange after an initial public offering. The IPO is expected to raise close to $20 billion, making it one of the biggest IPOs ever. The US government currently holds 61% of GM shares after a $50 billion dollar bailout last year. If the sale of GM shares is really as successful as anticipated, the government will be able to sell the bail-out of GM to voters in the upcoming midterm elections, where the issue is sure to be contentious. Government says that it's nothing short of a coincidence that the IPO is planned to occur a few weeks before the midterm elections. Read more: Reuters
While we have your attention...
An increasingly rare commodity, quality independent journalism costs money - though not nearly as much as its absence.
Every article, every day, is our contribution to Defending Truth in South Africa. If you would like to join us on this mission, you could do much worse than support Daily Maverick's quest by becoming a Maverick Insider.
Click here to become a Maverick Insider and get a closer look at the Truth.
"Look for lessons about haunting when there are thousands of ghosts; when entire societies become haunted by terrible deeds that are systematically occurring and are simultaneously denied by every public organ of governance and communication." ~ Avery Gordon