General Motors emerged from bankruptcy today and promises it is the beginning of a new age for America's leading car manufacturer. Canadian-born Ray Young, the child of Chinese immigrants, is one of the folks leading GM to what will hopefully be a return to profitability. Young was interviewed by CNBC this morning and rightfully noted that every product GM launches must be a winner if the company is going to succeed. Young also indicated that GM is planning on having an initial public offering of new shares in the next few months in order to repay loans to taxpayers.
GM has a long way to go and I wish Mr. Young well in achieving his mission.
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