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Click here to visit the new home of Politics Daily!(Nov. 17) -- Punctuating an astonishing turnaround, General Motors will offer its stock to the public Thursday in what could be the biggest IPO in U.S. history. As investors line up to place their bets, it's striking to think that just 16 months ago the automaker was on its deathbed. With that in mind, who deserves credit for GM's revival? Business writers wrestle it out: It's an Amazing Turnaround Story, writes Halah Touryalai at Forbes: GM stock has become such a hot item that underwriters stopped taking orders for the IPO yesterday, which was more than seven times oversubscribed, ...
Ready to shake up the floundering auto industry, and determined to fire someone other than Timothy Geithner, President Obama announced a dramatic layoff at General Motors, consisting of a single individual...The company's CEO, Rick Wagoner.The Obama administration has forced the longtime head of General Motors to resign and said yesterday that it would withhold additional federal aid to the auto industry unless the ailing companies undertake changes they so far have been unwilling or unable to make.Wagoner's nine rocky years at GM were characterized by multiple failures-- from ignoring the ...
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