The Freep says GM has appointed a Vice President of diversity. And they’ll need one. GM’s post-IPO ownership roster shapes up to be quite, well, diverse. China’s SAIC appears to be gung-ho for the IPO. And it’s not just the Chinese government that likes the idea of owning a little bit of America.
Reuters reports that Kuwait Investment Authority (KIA), a sovereign wealth fund, has indicated their interest in purchasing part of General Motors. Bader al-Saad, KIA’s Managing Director, thinks he might be getting a deal: ” If it is feasible for us we will look in it…if it is something cheap, we are interested of course.” If the KIA were to buy a stake in GM, it would be rather interesting. A quick look at the Wikipedia page for the KIA shows that that they also hold a significant stake in Daimler AG; almost 7 percent of the Stuttgart company. What is to stop the KIA acting like a bridge between GM and Daimler? Daimler needs the economies of scale and some European technology wouldn’t go amiss at GM. Yes, it is a bit farfetched. What is not so far-fetched is that all this talk that GM needed to be rescued because one day we might need them to build tanks and halftracks, sounds sillier by the minute.