I just had a chance to read the story in Automotive News - it was very interesting.
I wasn't aware GM's stock had dropped below the IPO price and was so far away from the Government's break-even point. It was also interesting to read that Wall Street's concerned about GM's weak product pipeline and the recent turnover among their top managers.
Concerning Marchionne, I think his biggest concern at the moment is trying to refinance the Government's equity so Fiat can take a controlling interest in Chrysler and issue an IPO. It will be interesting to see if there's a long line of banks/investors who want to buy Chrysler bonds?
|