It’s been a long time since General Motors stock could be purchased, but the company has announced an initial public offering next month.

 

General Motors Chairman Ed Whitacre said that the company’s stock will debut at a price somewhere between $20 to $25 a share when its initial public offering takes place next month.

 

Workers, retirees and dealers will have to invest a $1,000 in order to buy shares.

 

John Christie, President of the GM Retirees Association told WWJ it’s a welcome move.

“I hope it’s being viewed as an olive branch of sorts, to at least some retirees. It’s not one-size-fits-all — not everybody’s going to be interested. In fact, Christie says he doesn’t believe there will be a big rush by retirees to get into the market.  Read more...