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SANTA MONICA, Calif. — Because the one-year anniversary of General Motors' emergence from bankruptcy arrived last Saturday, Edmunds.com analysts are pondering the automaker's strategy behind a push toward an initial public offering for its new stock.

The site recognizes the progress GM has been made but questions the rush to have an IPO.

"This is certainly not the economic climate in which I'd want to have an IPO since it is likely to reduce the initial valuation of the stock," Edmunds.com chief executive officer Jeremy Anwyl declared on Wednesday.

"Negativity about the economy continues to swirl about and the psychological effect is putting a damper on all things it touches; what may be the most significant IPO in history will not be immune," Anwyl continued.

He went on to ask, "One can't help but wonder: what is the rush?"

In a report on AutoObserver.com, senior editor Bill Visnic and other Edmunds.com analysts explored the following possibilities:

—Is there pressure from current shareholders like the government and the UAW VEBA trust who are anxious to liquidate their shares?

—Is GM trying to go public while the company has a fair amount of positive momentum in anticipation that the future may not be quite as positive?

—Is the timing political, targeted to happen before the next election so that the current administration can take credit for seeing the process from start to finish?

"Regardless of whether any of these possibilities hold any weight, GM executives must have reasons for expediting the IPO," Anwyl emphasized.

"The company would benefit from clarifying its reasoning publicly and openly in order to build trust and credibility and to resolve public curiosity," he added.

Edmunds.com senior economist Rebecca Braeu did some calculations on how an IPO would correlate into federal government action stemming from loans given to GM.

"When GM stock is offered, the U.S. government can sell all or a portion of its 60.8 percent stake in the ‘new' GM," Braeu figured.

"This would free up TARP funds that could be applied to something else, like unemployment benefits which may provide a measurable boost to the economy," she suggested.

"The big question is whether the government will receive payback of its $49.5 billion investment in GM," Braeu concluded.