Littmann on GM IPO

Senior Economist David Littmann is the primary source for a Detroit Free Press article today regarding GM’s IPO, saying it is in “fine shape.”

Littmann said investors are attracted to the stock offering due to GM’s cost-cutting following bankruptcy last year.

“They’re finally focusing on what they should have been focusing on a generation ago,” Littmann said.

GM’s long-term financial stability, however, is not certain.

“There’s no confidence that any tax cuts across the board would be permanent,” Littmann explained. “Without consumer confidence, the U.S. economy cannot grow at or above the 3 percent threshold that would reduce unemployment.”

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