Ex-auto task force head optimistic about GM IPO

By KEN THOMAS

WASHINGTON

The former head of the Obama administration's auto task force says he's optimistic about General Motors' expected initial public stock offering.

Steve Rattner said at a Washington book event Monday that investment bankers underwriting the deal "feel pretty good" about the upcoming IPO. He says there have been some questions about the company's long-term relationship with the United Auto Workers union but Wall Street is positive about the company going public.

GM has not officially announced a date or price for the IPO, but it has been expected for November.

Rattner has been promoting "Overhaul," his first-person account of the Obama administration's rescue of General Motors, Chrysler and the U.S. auto industry.