Money-Losing Stock Sale Reinforces "Government Motors" Stigma
Washing away the stink of favoritism and failure is a long ways away
The financial analyst and automotive communities responded to the government's planned exit of General Motors Co. Wednesday with overwhelming support.
The Detroit-based automaker's stock hit a 52-week high, and GM is another step closer to being a government-free company for the first time in years.
But GM is most likely far from shaking its "Government Motors" label, according to officials.