This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Washington Seeks GM IPO Adviser: Report

NEW YORK ( TheStreet) The U.S. government is interviewing investment banks to advise the Treasury Department on a GM (GM - Get Report) IPO, according to a published media report.

Wall Street firms vying for the role include Greenhill & Co., Lazard and Perella Weinberg Associates, according to the report, published on Saturday on The Wall Street Journal's Web site. The Journal reports that the Treasury Department declined to comment.

GM, which enjoyed an April sales hike of 6.4%, recently announced that the company is years ahead of schedule in repaying bailout loans received under the Troubled Asset Relief Program (TARP).

The government, however, still holds almost 61% of GM's common equity after its $50 billion bailout of the auto giant last year. An IPO would enable Washington to recoup its stake in the company, although GM has been vague on when an offering will happen.

The Journal reports that an IPO is still several months away, at the earliest.

GM, which lost $4.3 billion in the second half of 2009, recently said that it will likely be profitable for the first quarter, as well as the current year.

-- Reported by James Rogers in New York

Follow James Rogers on Twitter and become a fan of on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GM $33.02 0.00%
AAPL $111.60 0.00%
FB $93.80 -0.49%
GOOG $646.67 0.00%
TSLA $212.84 -1.30%


Chart of I:DJI
DOW 17,131.86 +47.37 0.28%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,838.6430 +8.1730 0.17%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs