A GM stock offering before November?

That would be nice.

GM may file for an IPO in mid-month, aiming to complete the deal before November. I was for the bailout when I thought it unlikely that the government would get its money back, because if GM had gone down it would have taken the parts companies with it, which would have been bad news for the whole industry. But of course the bailout has been an albatross around Obama’s political neck.

No word yet on valuation, but if the IPO values the government’s 60% stake at anything near the $50B we put into the deal, the administration is going to come out looking pretty smart: and the opponents of the deal as dumb and pusillanimous.

Author: Mark Kleiman

Professor of Public Policy at the NYU Marron Institute for Urban Management and editor of the Journal of Drug Policy Analysis. Teaches about the methods of policy analysis about drug abuse control and crime control policy, working out the implications of two principles: that swift and certain sanctions don't have to be severe to be effective, and that well-designed threats usually don't have to be carried out. Books: Drugs and Drug Policy: What Everyone Needs to Know (with Jonathan Caulkins and Angela Hawken) When Brute Force Fails: How to Have Less Crime and Less Punishment (Princeton, 2009; named one of the "books of the year" by The Economist Against Excess: Drug Policy for Results (Basic, 1993) Marijuana: Costs of Abuse, Costs of Control (Greenwood, 1989) UCLA Homepage Curriculum Vitae Contact: Markarkleiman-at-gmail.com

3 thoughts on “A GM stock offering before November?”

  1. Obama may end up looking smart to anyone who is looking but will he be smart enough to capitalize on it? He seems to think people are aware of what he is doing without his getting out there and shouting about it. No Drama Obama needs to learn to get dramatic about his accomplishments and his goals. Talk to voters like they're eight years old and repeat, repeat, repeat. Then repeat it again some more.

  2. I can see the wingnut talking points already. If the government makes a profit, that will be another case of Obama meddling with the economy and taking money out of the hands of honest businessmen. If they take a loss, even a tiny one, that will confirm the bailout was a terrible idea. Sometimes being reality-based is such a handicap.

  3. This will yield as much credit for the correct and shame for the wrong as did the 2002 Iraq debate.

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