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How GM IPO won over US funds with vows of change 11/19/10

http://www.reuters.com/article/idUSN1813486220101118

By Soyoung Kim, Clare Baldwin & Kevin Krolicki; Reuters ~ Nov 19, 2010

 

·         U.S. mutual funds emerged as surprise bulwark in GM IPO 

·         GM vows of change, balance sheet reform won converts 

·         Sovereign wealth funds balked at higher GM share price

 

NEW YORK/DETROIT, Nov 18 (Reuters) - One of the first signs General Motors Co (GM.N) was driving toward a record-setting IPO with booming demand from U.S. investors came from an unlikely indicator: a sudden shortage of chocolate mousse at an investor meeting.

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