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Obama's re-election helps General Motors

by
A banner hangs on the front of the General Motors Co world headquarters announcing GM's return to NYSE in Detroit
A banner hangs on the front of the General Motors Co world headquarters announcing GM's return to NYSE in Detroit

DETROIT (WKZO) -- The re-election of President Obama is good news for General Motors.  It creates a clearer path for the government to begin selling some of its 32-percent stake in the automaker.

According to "Morningstar" analyst David Whiston, the Obama administration could unload the stake quickly and not have too much fallout.  On Monday, GM secured a new 11-billion dollar credit facility, adding to speculation that some of that money will be used to buy back some government shares.

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