Ally CEO Dishes on Repaying Bailout Funds

Carpenter Expects Taxpayers to Profit; Expansion of GM Financial Would Be 'Strategic Suicide'

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BY APARAJITA SAHA-BUBNA

For Ally Financial Inc. Chief Executive Michael A. Carpenter, the road to independence has some big potholes.

Ally, 74%-owned by the U.S. government, is in the midst of planning its initial public stock offering, the first step in the unwinding of its $17 billion federal bailout. The company picked its lead underwriters last week, and last year said it was considering going public sometime this year.

Complicating matters is Ally's former owner, General Motors Co.

The auto maker plans to expand GM Financial, its finance arm, potentially setting the stage for a showdown with Ally, which funds about 80% of ...

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