GM to File for IPO During Week of Aug 16!

GM has made an announcement that they will be filing their IPO during the week of August 16th. The filing will occur after the expected date for its second quarter results. GM's latest vehicles can be test driven at a Sarasota Chevrolet Dealer. GM's second quarter results must be good, which is likely why the company decided on this week to hold its IPO. A great second quarter result will allow the IPO a greater chance of success. Ford, a major domestic competitor, will not be holding an IPO because the company did not declare bankruptcy. Ford's latest models that have helped the company turn the tide and improve profits can be found at a number of Chicago Ford Dealers.

It will be interesting to see if the IPO will allow GM to have the same level of recent success that Ford has been experience. Foreign competitors and dealers have their hands full such as AZ Volkswagen and BMW. Both Ford and GM are implementing different stages of their new turnaround programs that are designed to help both companies emerge from the lack of profitability over the past 5 or so years.

GM will hold the IPO to reduce the United States government's $50 billion investment into the company. GM hopes to completely eliminate the government's bailout amount so that the company will become privately owned once again. GM hopes to time its IPO to preceed November elections, an unknown source said.

GM recently announced the purchase of AmeriCredit as a new captive finance operation. GM is also in talks with other major banks for other consumer credit options, and the more secure GM's financing options are, the better the IPO will likely be. GM will buy AmeriCredit for $3.5 billion which will comprise the core of its captive financing operation. GM previously sold GMAC off in 2006 which was its former in-house financing operation.