White House looks forward to divesting from GM

Jan 19, 2011

The rise in GM’s stock price since the “new” GM issued its IPO in mid-November looks to be on target for the automaker to cut the apron strings from the Feds, according to the U.S. Treasury.

In a January 11 interview with Ron Bloom of the Treasury department, Bloom said the White House is happy with GM’s IPO performance and that the Obama administration looks forward to divesting the U.S. from its remaining investment in GM.