DETROIT -- As General Motors prepares for an Initial Public Offering of its stock, the U.S. Treasury has accepted an offer for GM to buy back two-point-one billion dollars in preferred stock. With this repurchase, General Motors brings its total payback to the government to 9.5-billion dollars since emerging from bankruptcy in July 2009. Once this deal is completed General Motors, will own more than 60-percent of the company's primary common equity before its IPO.
