On Wednesday, General Motors filed for a public stock offering that would enable the federal government to start selling its stake in GM. Currently, the federal government holds 61 percent of the car company. A year ago, the car-making giant was looking at bankruptcy... in the second quarter of this year, they announced a $1.3 billion proffit. Has the government succesfully turned GM around?
Nick Bunkley, who writes about the auto industry for The New York Times, explains what the IPO means for GM and the government.