General Motors (GM) closed up 2% Wednesday, a day after a series of positive reports from banks involved in the company's initial public offering. GM will have a presence at the North American Auto Show beginning on Jan. 10. Overall implied volatility of 31 is at the low end of its one-month range, according to Track Data, suggesting low price movement.

CBOE Volatility Index-VIX closed down 42 cents to 17.06, below its 100-day moving average 21.12.

If you missed General Motors' (GM) initial public offering, don't fret. Feelings of being "on the outside" regarding GM's big, second debutante ball, of sorts, are both normal and rational.

They're especially justified when you consider that it was you -- the U.S. taxpayer -- who helped GM continue to exist. Without the U.S. government's prudent intervention, GM probably would not be open for business today

Even so, let the IPO process play itself outside. Institutional investors came in, got their typical, large initial pieces of the IPO pie from the bookrunner, and will likely flip their shares fairly early for a $1 or $3 premium -- if they haven't already -- and make a quick killing.

The long awaited General Motors initial public offering is coming. According to the Financial Times, GM shares will be priced on Nov. 17 and begin trading the next day.

GM common shares are expected to be priced at between $26 and $29 per share. GM plans to raise between $9.5 billion and $10.6 billion. If demand is strong enough GM will issue more shares.

In a Labor Day message to General Motors employees, his first companywide statement since becoming CEO, Dan Akerson pledged to cooperate with the United Auto Workers (UAW). "Coming from a union family, I know on a very personal level the good things that unions can do," said Akerson, GM's fourth chief executive since 2009.

The UAW will negotiate a new contract with GM next year, and it may attempt to restore losses it agreed to ahead of GM's bankruptcy. This is expected to be a challenge for Akerson, who has a reputation for telling subordinates to "stop complaining and start working."

A year ago Tuesday, General Motors filed for bankruptcy. Over the next few days, the U.S. Treasury and the automaker will consider a lead bank for a GM initial public offering (IPO). There are a complex set of variables at play when it comes to a GM IPO.

For starters, we have the GM-Treasury marriage. The government bailed out GM and now owns 61% of the company. This means that any IPO must take into account not only any shares sold to the pubic, but also disposition of the government's shares.