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New GM Will Surprise People on the Upside: Expert

The new General Motors may surprise people on the upside when the company emerges out of bankruptcy, said Roger Altman, former Deputy Treasury Secretary and chairman of Evercore Capital Partners.

Altman praised Ed Whitacre as GM’s new chairman.

"I think he is a terrific choice,” Altman told CNBC. “Anyone who knows Ed knows that he’s a strong guy and knows how to make a profit — he will be a strong voice for GM.”

He said the new GM will have a clean balance sheet, further lower its labor cost, and continue to produce cars that have succeeded in the past.

"It will surprise people on the upside and it wouldn’t surprise me if it was able to do an IPO sooner than later,” he said.

Disclosure:

No immediate information was available for Altman or his firm.

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