Rumor has it that Sergio Marchionne is planning on taking Chrysler public once again. What if the IPO fails? Well, then a chunk of the company could go to the UAW.
While regular General Motors shareholders get to ride the wave below the IPO price, the swells holding the preferred mandatory convertible shares get dividends totaling $59.4 million.
General Motors officially kicked its IPO old school today, plotting to hawk $13 billion in shares Nov. 18. Original G also popped up to $2.1 billion in net income last quarter. Mad cheddar. [GM]
GM's IPO needs to be priced at $133.78 per share for taxpayers to make their money back. Good luck with that. [AP]
New General Motors CEO says not to expect the IPO to pay back taxpayer bailout money. Also, the sky is blue. [CNBC]
General Motors won't start the hard sell of its shares to investors, called a "road show," until Nov. 3, one day after mid-term elections, and the actual IPO now expected Nov. 18. Why? Politics, of course.
Tesla Motors CEO Elon Musk responds to a reporter's question following the company's IPO on Tuesday. Maybe now he'll be able to afford a fashion consultant — mixing plaids and check is always a bad idea. Photo Credit: Mark Lennihan/AP