Wednesday, August 18, 2010

GM: Today was the Day

They filed with our friends of at the SEC. An IPO. The same company that last did that in 1916. A bit hasty, especially when you consider that 30-40% of their sales are 'Fleet'. I'm not sure America has warmed up to spending $25k (28k if you want the LTZ!) on a Malibu that probably should be in the $17k range. Their cars are nice, but too expensive. Only government agencies spend 30% more on something they shouldn't have (see: Fleet Sales)

Never the less. Today GM goes for the gold in taking that leap to being a public company again. Welcome back GM? I think they want to think so and I think they want it in a very bad way.

Hasty, says I.

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