November 3rd, 2010
04:06 PM ET

GM to sell shares worth $13 billion

General Motors says it will sell 365 million shares in $13 billion initial public offering at an estimated $26 to $29 per share.

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Filed under: General Motors
soundoff (9 Responses)
  1. Squidly

    And what will I get in return?

    November 3, 2010 at 4:23 pm | Report abuse |
  2. IndypendentJones


    November 3, 2010 at 7:37 pm | Report abuse |
  3. phil

    Curse of the old H1 Hummers.

    November 3, 2010 at 9:04 pm | Report abuse |
  4. Jim Brieske

    Wait. Let me understand this. So GM received 50 billion dollars of taxpayer money. Now they want taxpayers to buy 13 billion dollars of the 50 billion dollars they already own.
    Isn't that like a stranger coming up to ya as you're getting out of your car and asking you, do you want to buy a car? You ask, what car? And he points at your car and says, this car.
    Hey phil. I posted this morning and left. Gotta go now too. Post later.
    Oh I like the name Wilson better than Avon, was it Barksdale?

    November 3, 2010 at 10:19 pm | Report abuse |
    • tomcat

      Hey Jimbo, gm sells the shares then turns around a pays Uncle Sam back, in return uncle sam gives back some of the shares they're holding. In time gm will pay back all the money and recieve their stock shares back. At this time gm is selling shares that they own not shares that were sold to uncle Sam.

      November 4, 2010 at 12:50 am | Report abuse |
  5. Gilbert


    November 4, 2010 at 12:24 am | Report abuse |
  6. Jim Brieske

    tomcat. Thanks. That makes sense but GM is just attempting to get money directly from citizens and cutting out the government middleman.
    Maybe if the government gave the 50 billion dollars worth of their shares to the people then the people would buy GM cars since they have stock.
    To me that makes more sense than attempting to peddle 13 billion dollars of stock people won't buy. Plus it cuts out the government from being in the car making business.

    November 4, 2010 at 1:30 am | Report abuse |
  7. Dan Hamrick

    My understanding is the 50 billion loan from the tax payers was needed to get GM 'over the hump'.
    GM now appears to be over the hump, or nearly so. The IPO is cash needed ot move on.
    Don't worry, we taxpayers will get or money's worth. GM will repay in their own way.

    November 4, 2010 at 10:13 am | Report abuse |