Skip to comments.GM break even pricec $114 a share?
Posted on 08/09/2010 8:05:50 AM PDT by taildragger
Go over the FR Verboten Detroit News and Free Press for the story. Ouch, how is this really going to work...
Who in their right mind would buy GM stock? The government will just seize it when their bad management model leads them to insolvency/bankruptcy again.
If everyone is to get payed back what they put in or what they hope to get for coffers (UAW) with the number of shares they are talking about floating, it will have to go to $114 a share. Or at least that is how I read it...
The cool cars that GM has now were all designed BEFORE Obama took over. Just wait until we get his versions. Buh bye.
GM is back with 0%. it’s a sign iron is not moving. GM got enough money to continue a while, they WILL be right back where they started from soon.
I own a old GM truck. To bad really, it’s a good truck. But I won’t be buying another.
I wouldn’t buy or even drive a GM car if it were given to me.
When I rent, I’ll rent Ford or a foreign car.
Obama told us the government takeover of GM was justified to save jobs. Now we find out after the bailout that GM spend $500 million (that’s half a billion), taxpayer dollars, to build a new plant in Mexico to employ Mexicans while Americans look for jobs.
Prediction....and you heard it first here from me:
THE UAW WILL STRIKE AGAINST GM AND/OR CHRYSLER BEFORE THEIR NEXT CONTRACT RENEWAL.
This of course will seal the idiocy of it all when it’s realized that they are in essence striking against themselves.
I heard the unions are going to hammer Ford.
So how do they expect us buy anything when NO ONE HAS A JOB??????
I guess the government buys from union workers who buy from other union workers who buy from union workers who buy from ...
parasitism, to say the least.
They might make a profit in MEXICO
GM to Build New Vehicle at Plant in MEXICO
Good thing we bailed them out, huh?
lulz, ask Ford if they give a *hit. =.=
I was one of GM’s most loyal fans before Obama politicized my favorite car company. Last year, all 5 vehicles I owned were GM. I love ‘em.
My daily driver is now a Ford F-150 which I don’t enjoy as much. But I refuse to condone the socialist take-over experiment, by supporting GM’s financial success. I love my country more than my personal preferences.
So I will not buy a Post-Obama GM vehicle.
I feel sorry for the white collar workers at Gm pre-Obama. The engineers and execs like Bob Lutz were making progress. The company was DESTROYED by the UAW parasites. The bond holders were robbed. GM and Chrysler can go to h*ll.
Depends on how many shares the issue. $114 is meaningless.
I do not post these GM stories to bash, I know a lot of families that rely on their paychecks and retirees. This needs to be aired their journey towards recovery good or bad, but I can't see a winning formula to make it happen down the road...
Dman, this was @ the current number they are considering floating...
I doubt it, because FORD will do what Caterpillar did and break them.
Private companies can do only one of two things, go under and close or they survive and thrive.
The people running Ford are not stupid. They make a good product and I think the morale there is high.
They’re making money, so hopefully the UAW members working there will actually see a reward for their labors.
I am the opposite, I owned 1 GM long ago, biggest piece of crap I ever owned, bar none... I also worked as a contractor for a division of GM for a year, and I can tell you that it was clearly obvious why they created crap.
The company was so big and so poorly run it had arrogance out the arse and was absolutely cluelessly run.
GM never had a chance at me as a customer EVER, all the bailout and Fauxbama did was prove my decision long long ago was the right one.
Sorry GM can go to h*ll. I hope they fail as soon as possible. I disliked Toyotas because they are overrated but I would buy a Honda or Toyo versus getting a free GM or Chrysler.
I own Ford/Licoln-Mercury products. IF the UAW screws Ford I will but a foreign brand. The UAW caused this and is behind Obama’s Islamification of America. The American people are stupid sheep who have no clue how bad things are. Brainwashed by Obama TV.
I think the total capitalization is the more informative number. IMO that is worth about $.10 right now. I am rooting for them to raise that value though.
Are you talking about the old common stock shares at .10 cents? Those shares are worthless. Wiped out. The UAW thugs and O will issue new common and some fools will actually buy the UAW thug scam.
The old common at .10 cents is dead zombie stock that trades as people sell it off for tax losses. About 1 in 4000 bankrupt common shares ever get revived. I have seen it once or twice. The old GM shares are worthless.
You my friend are hittin’ the nail!
Preposterous. You will merely lose 100% of your investment as I did the last time GM when bankrupt.
No, I said the whole company isn’t worth $.10. right now.
Thanks. Is that big Fort Worth GM factory still closed? I remember driving past it when GM was imploding. Huge factory closed.
Note how they closed a plant in Texas. I think it was one of their better plants for quality. I think the best GM vehicles were the Canadian ones because the unions up their were slightly lesss parasitic.
The UAW wants to bleed and destroy the auto companies. They did it and took over GM and Chrysler.
The Arlington (suburb of Ft. Worth, Home of the Texas Rangers) plant is still open. They make Tahoe’s and Suburban’s there. One of their better plants as far as initial quality. The are either at or near capacity right now. I’m sure Obama will end those vehicles eventually.
GM break even pricec $114 a share?
A “company” that’s making a car (The Volt) for $81,000 per unit,
sell it at $41,000 (not accounting for the extra $20,000 per unit
some dealers say they hope to add)...and gets a Federal subsidy of
what’s not to like?
Government Motors will have the full faith and credit of the Federal
Government. It might just be a decent stock to own.
Obama will be sure that the stock goes up and up and up.
42 years for me
The union retirees came out pretty much completely unscathed.
We salary retirees got clobbered on benefits so it's suspenseful waiting to get to Obamacare @ 65.
So far our pension is whole but underfunded and will likely be cut in the out years.
One thing for sure GM won't go bankrupt again until after the next Prez election in Nov 2012.
It's a lot of excitement to be on Social Security and a GM salaried pension, LOL
While they might one day get the Whitehouse out, the UAW is there forever. Even the Germans keep unions out of the boardroom.
Whiteacre might be a kick in the pants but he’s never run a large company with real competition. AT&T was, like GM, a branch of the federal government when he ran it.
His strategy of bashing Toyota with fake recalls is short-sighted and doomed to failure.