GM Playing the IPO Game

Today, Thursday, November 18, 2010, General Motors started trading their stock on the New York Stock Exchange.

“The start of trading in GM shares represents the last step in a blockbuster initial public offering negotiated by the Obama administration that raised $20.1 billion after pricing the automaker’s shares at $33 each.”

100 million shares were sold in the first 20 minutes when the shares ranged between $35. and $36. a share.   Daniel Ackerman, the CEO (Chief Executive Officer) to be in September commented on CNBC in response to questions about prospects, including stock prospects, stated we are looking “at the long-term; “that’s the way we are playing the game.

Playing the game” is a sports and games idiom used in business a lot.  I guess one could say capitalism and business is a game with rules.

At any rate, this is an historic event and good for the U.S.

Advertisements

Tags:

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: