Reuters reports that General Motors Co. will file registration papers with the Securities and Exchange Commission for an initial public stock offering at some point during the week of August 16, most likely in the wake of the publication of its second quarter earnings figures.

The filing would be the first step toward the stock offering, which would be greated toward reducing the degree of ownership the federal government maintains in the company after a bailout in 2009 that totaled $50 billion.

The date of the filing would indicate completion of the process before mid-term elections are held in November, according to the Reuters report, which cited two individuals with "direct knowledge of the preparations."

Additionally, GM is negotiating with Bank of America Corp., JP Morgan Chase Co., and Wells Fargo Co. to arrange consumer financing for more credit-worthy buyers. This would address concerns of investors who are fearful that GM customers might not have access to financing equal to that of competing automakers.

On Thursday, July 22, GM announced its plans to purchase AmeriCredit Corp. for $3.5 billion in cash to form what it described as the "core" of a captive finance operation, reversing the position the company took when it sold GMAC in 2006.

These moves, plus rumors that GM is negotiating a $5 billion revolving line of credit, are solid indicators that the company's recovery from bankruptcy is proceeding steadily and is on course.