8 Good Reasons NOT to Call General Motor’s IPO a Success

ATLANTA— The General Motors initial public offering was completed yesterday to much fanfare, with GM raising $15.8 billion, the second highest IPO in history (second only to VISA in 2008).  Barack Obama called the IPO part of GM’s success story and declared: “we are finally beginning to see some of these tough decisions that we made in the midst of the crisis pay off.”  The U.S. Treasury sold 358 million shares as part of the IPO, raising $11.8 billion.  Democrats have been quick to call it a success, and progressives have been eager to declare Barack Obama pulled Michigan up off the mat with his bold actions.  …but is this really a success?  Read more of this post