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.


Nick Bunkley

Produced by:

Blakeney Schick

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.