Installment loans via the working class may get a hefty payment through Gm IPO

GM has submitted the paperwork for what was expected for a while. A General Motors Initial Public Offering has just been filed, although particular facts are not known yet. Up to now, what is for sure is that General Motors will offer preferred shares, but how many shares is not clear. The business will get some debt settlement relief from it, and also the U.S. Treasury is visiting the some of their debt from Gm wiped clean. The company is getting closer to its independence, and could also get some huge money quick. Article source – Taxpayer short term loans to be paid soon after GM IPO by Personal Money Store.

Gm Initial public offering to begin soon

General Motors filed for a General Motors Initial Public Offering today. The IPO might be quite the fast cash loans, as outlined by the New York Times. The company will be offering preferred shares. The total number of shares probably won’t be known for awhile. Chairman and CEO Ed Whitacre had previously announced that he would retire once the company was back on track, which he most recently announced he was going to do by the end of the year. Lots of debt could be paid off by this initial public offering.

Probably motivated to pay off debt

The Treasury is likely going to get a large payment on the installment loans for bad credit they lent the company. The shares the Treasury owns in GM could be involved in the IPO, as outlined by CNN Money. The American government has 60.8 percent of all General Motors stock, and also the Canadian government owns an additional 11.67 percent. Gm has paid back $7 billion of the loans they received from the Treasury.

In black

General Motors, with this Initial Public Offering, will get at least part way to paying the debt the company owes to the United States of America government. General Motors is profitable again, so they probably won’t need one more cash til payday loan from the working class. The IPO would have to clear about $67 billion for taxpayers to break even on the auto bailout.

Further reading

NY Times

nytimes.com/2010/08/19/business/19auto.html?_r=1

CNN

money.cnn.com/2010/08/18/news/companies/gm_IPO/