Two stories today that suggest it’s not so far-fetched:
Forbes on the feeding frenzy for GM’s Thursday initial public stock offering:
Demand for GM stock is so heavy that one person briefed on the IPO said orders are seven times the number of common shares that are up for sale.
GM announced Tuesday that it would raise the price range for common stock being sold this week to $32 to $33 per share, up from the range revealed two weeks ago, $26 to $29.
At $33 apiece, the total value of the 1.5 billion outstanding GM shares would be nearly $50 billion, up $6 billion in the last two weeks.
And Motor Trend on the Chevy Volt, its newly crowned Car of the Year:
In the 61-year history of the Car of the Year award, there have been few contenders as hyped — or as controversial — as the Chevrolet Volt. The Volt started life an Old GM project, then arrived fully formed as a symbol of New GM, carrying all the emotional and political baggage of that profound and painful transition. As a result, a lot of the sound and fury that has surrounded the Volt’s launch has tended to obscure a simple truth: This automobile is a game-changer.
If the government can come out of the automaker bailout experiment with minimal losses (and gains aren’t yet out of the question), it will be one of the few self-evident and politically viable economic policy victories that Obama can carry with him into his re-election effort.