General Motors laid out a plan in bankruptcy court Thursday that includes an Initial Public Offering of stock next year. When the troubled automaker comes out of bankruptcy this month or next, the federal government will be the majority owner. According to the Wall Street Journal, the plan envisions the government ending its ownership position no later than 2018. That’s a lot longer timetable than most Americans are thinking about.
Rasmussen Reports national polling has found that 80% want the government to sell its stake as soon as possible, and 64% favor a proposal that would force the government to sell the auto company within a year. Even in Michigan where the troubled auto giant is headquartered, 69% want the government to get out of auto company ownership as soon as possible. - Rasmussen Story
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