GM IPO: Fund Managers Stick With Ford

The Street ^ | 11/181/10 | Robert Holmes

[Nachum]

BOSTON--General Motors(GM), which raised at least $20.1 billion in an initial public offering, is to carmaker Ford(F) what financial company Citigroup is to JPMorgan(JPM), some mutual-fund managers say. (Snip) Frank Ingarra, co-portfolio manager at Hennessy Funds, says he finds better opportunities in other automotive stocks rather than trying to buy into something "where the government is only selling a small part of its position." "Whenever the government is involved in something, I get uneasy," Ingarra says. "A lot of the money raised goes back to the government, to the unions, and to all of these other entities."

[Nachum]

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[scooby321]

GM stock or products will never buy.