GM workers, retirees urged to diversify

\GM has not issued stock since emerging from bankruptcy last summer more than 60 percent owned by the U.S. government. GM recently offered its 79,000 U.S. employees, 9,000 Canadian employees and 517,000 retirees a chance to register for its initial public offering, which is expected to occur in November.

But experts warned the greater GM community not to get too carried away investing in the company they work for, the Detroit Free Press reported Wednesday.

Case in point: GM itself, which went bankrupt last year.

"GM employees should consider this IPO as they would any other investment. They should prioritize, diversify and consider inves

ting in other assets not related to their place of employment," said Sudip Datta, a professor of finance at Wayne State University.

In addition to considering diversification on its own terms, "The government will try to unload its shares in months to come, with has the potential to depress the price of GM stock after the IPO," Datta said.

opyright 2010 United Press International, Inc. (UPI).