Cash from a public offering could help GM pay back loans from the U.S. and Canadian governments, Boudreau said. GM said it repaid $2.4 billion to the U.S. Treasury.
The small uptick in the economy, combined with a new leadership team and internal pressure within GM to make a profit could provide the automaker the jolt it needs, Boudreau said. U.S. sales rose 16.8 percent for GM in the first quarter of 2010.
Boudreau gave GM a 3, on a scale of 1 to 10, on its progress so far, saying he has seen the needed changes in upper-management but it waiting for the change to filter down into the "middle market."
The company reported $57.5 billion in revenue for 2009 with a loss of $4.3 billion for the last half of the year.