The GM Plan

DocHudson

DocHudson

Seat Belts Save Boobs
I'll sell my Shares

I'll sell my shares for exactly what they are worth F---ing ZERO. If this isnt the most outrageous thing yet.
The unions want more from USa, it'll cost $40.00 A MONTH TO PLUG IN A VOLT that these idiots think i'll pay $40K for.
Invest in Government Motors, You have got to be kidding.
Yup, this pisses me off.:patriot:
 
Tilted

Tilted

..
GM Posts $1.33 Billion Profit in Sign of Growing Strength

General Motors posted its biggest quarterly profit since 2004, a day ahead of an expected IPO filing that would open the gates for the U.S. government to slash its stake in the automaker.

The top U.S. automaker reported second-quarter net earnings of $1.3 billion, compared with $865 million in the first quarter. The second-quarter profit was the largest since 2004.

The results reflected a 47 percent surge in global production from the depressed levels of a year earlier when GM began operating under bankruptcy protection in a restructuring that included $50 billion in U.S. government funding.

The stronger profit also showed the gains GM has made from cost-cutting during bankruptcy and stronger sales in overseas markets led by China.

Revenue rose to $33.2 billion from $31.5 billion in the first quarter, boosted by stronger results in North America.
Click to expand...
 
Tilted

Tilted

..
Larry Gude said:
I thought they already did a rather thorough public offering? :evil:
Click to expand...

Good point.

DocHudson said:
I'll sell my shares for exactly what they are worth F---ing ZERO. If this isnt the most outrageous thing yet.
The unions want more from USa, it'll cost $40.00 A MONTH TO PLUG IN A VOLT that these idiots think i'll pay $40K for.
Invest in Government Motors, You have got to be kidding.
Yup, this pisses me off.:patriot:
Click to expand...

Wait - if you owned GM shares, I thought the government bailed you out. No? Are you meaning to tell me that the company didn't get bailed out - that it went bankrupt anyway, and its owners were mostly wiped out? I wonder who got bailed out then.
 
DocHudson

DocHudson

Seat Belts Save Boobs
Was a joke

Tilted said:
Good point.



Wait - if you owned GM shares, I thought the government bailed you out. No? Are you meaning to tell me that the company didn't get bailed out - that it went bankrupt anyway, and its owners were mostly wiped out? I wonder who got bailed out then.
Click to expand...

Was a joke, Since my money bailed out GM, i should have gotten stock. Since i haven't seen my stock i'll sell same.
 
DocHudson

DocHudson

Seat Belts Save Boobs
All About The Unions, Period

UNIONS, and their heathcare was all the was saved. Non Union Contractors got SCREWED.
 
DocHudson

DocHudson

Seat Belts Save Boobs
OPP's

There is only ONE reason a company announces a IPO and then delays it. They Do Not Have Anything To Offer To An Educated Public. At the same time the head of the Company bails out. Wake Up.
 
Tilted

Tilted

..
GM to List on NYSE, TSX After IPO

General Motors will list its shares on the New York Stock Exchange and Toronto Stock Exchange after its initial public offering, a source familiar with the situation said on Wednesday.

The IPO, intended to repay a portion of the automaker's government bailout, has been dubbed "Project Dawn," the source said.

The source declined to be named because preparations for the IPO remain private.

The number of shares to be sold by the U.S. government, the governments of Canada and Ontario, the United Auto Workers union healthcare trust and other shareholders has not been determined, the source said.

Sources previously told Reuters the IPO could raise as much as $20 billion, making it one of the biggest IPOs ever.

The U.S. Treasury plans to sell about 20 percent of the 304 million GM shares it holds, reducing its stake in the top U.S. automaker to below 50 percent, sources have said.
Click to expand...

Once again, the preliminary numbers point to some fishiness. There's zero chance that an IPO involving only 20% of the ownership interest in GM would raise $20 Billion at this point (or in the near future, i.e. when this IPO will happen).

If this report is correct, you watch - we're eventually going to find out that the UAW fund, and perhaps the Canadian and Ontarian governments, are getting to sell a larger portion of their interest than the U.S. government is. They're going to get they're money back (using that term loosely) sooner than the U.S. taxpayer is.
 
Larry Gude

Larry Gude

Strung Out
Tilted said:
GM to List on NYSE, TSX After IPO



Once again, the preliminary numbers point to some fishiness. There's zero chance that an IPO involving only 20% of the ownership interest in GM would raise $20 Billion at this point (or in the near future, i.e. when this IPO will happen).

If this report is correct, you watch - we're eventually going to find out that the UAW fund, and perhaps the Canadian and Ontarian governments, are getting to sell a larger portion of their interest than the U.S. government is. They're going to get they're money back (using that term loosely) sooner than the U.S. taxpayer is.
Click to expand...

I find your suspicion of your fellow man so unseemly.
 
Tilted

Tilted

..
SamSpade said:
Not being well informed on stocks and investments, this totally surprised me.

GM has never been publicly traded? How is this different?
Click to expand...

The GM that you are thinking of - the one that was publicly traded for a long time - is dead and gone (probably not technically yet, but pretty much). It went kaput just as it would have had there been no 'bailout'.

What we refer to now as GM is a new entity that has a similar name. It owns most of the old GM's assets and maintains much of the old GM's operating mechanism, but it doesn't have some of the old GM's liabilities. It does still have some (hand-picked) of those liabilities, e.g. ones that had been owed to the UAW fund.

The point being, this is technically a different entity (than the old GM). It has never been publicly traded, hence the IPO.
 
Larry Gude

Larry Gude

Strung Out
Tilted said:
The GM that you are thinking of - the one that was publicly traded for a long time - is dead and gone (probably not technically yet, but pretty much). It went kaput just as it would have had there been no 'bailout'.

What we refer to now as GM is a new entity that has a similar name. It owns most of the old GM's assets and maintains much of the old GM's operating mechanism, but it doesn't have some of the old GM's liabilities. It does still have some (hand-picked) of those liabilities, e.g. ones that had been owed to the UAW fund.

The point being, this is technically a different entity (than the old GM). It has never been publicly traded, hence the IPO.
Click to expand...

And there is no way in hell to under examine what this bastard child is, how it got there and what this all means.

Obama, with the help of Bush, created a stunning monster that FDR would only be jealous to see in terms of use and massive abuse of government power.

And yet, as Sam illustrates, most people are like "What? Since when was GM not public???"

The books on this CRIMINAL activity have yet begun to be written. The goings on here and with Chrysler are where the REAL nastiness of Obama, socialism, abuse of power and destruction of the constitution lie.
 
Tilted

Tilted

..
GM Roadshow to Begin After US Elections

U.S. automaker General Motorsplans to begin courting investors for its initial public offering immediately after the Nov. 2 U.S. midterm congressional elections, two sources familiar with the plans said on Wednesday.

GM's roadshow is set to begin on Nov. 3 and will last two weeks, the sources said. The IPO is expected to price on Nov. 17 and debut on Nov. 18, the sources said.

The sources cautioned that the plans were still being finalized and could change based on how U.S. stock markets perform.
Click to expand...
 
You must log in or register to reply here.
Top