General Motors Files For Public Offering

Thursday, August 19, 2010

In this handout image provided by General Motors, The first pre-production Chevrolet Volt is on the assembly line at the Detroit-Hamtramck manufacturing plant March 31, 2010 in Detroit, Michigan. (John F. Martin/General Motors (via Getty Images))

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.

Guests:

Nick Bunkley

Produced by:

Blakeney Schick

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