By all accounts, the initial public offering of General Motors stock yesterday was a huge success. Demand for the shares was five times the initial allocation, prompting the company both to raise the amount it sold and raise the price. At the end of the day, GM stock [NYSE:GM] closed higher than the initial price. Everyone's happy, including President Barack Obama. He issued a statement from the White House saying that the robust market demand for GM shares indicated a bright and profitable future ahead for domestic automakers--and that it vindicated his decision to rescue the company 18...
Corvette Could Go Hybrid, Says GM Head Engineer; World To End?
Last week, Karl-Friedrich Stracke, GM's vice president of global vehicle engineering, set to rest rumors of a mid-engine next-generation Chevrolet Corvette. That got a lot of attention among Corvette fans. But a footnote to the story was that Stracke said not only that a hybrid Corvette was...John Voelcker