Would you buy shares in the new GM? (WSJ POLL)

Wall Street Journal ^ | 8/18/10 | WSJ

[demsux]

A Poll for you

[demsux]

I wouldn't touch it...how about you?

[Psycho_Bunny]

GM is dead to me.

[BamaAndy]

Oh, hell no.

[AngelesCrestHighway]

72% NO......

[gimme1ibertee]

Would you buy shares in the new GM?

Hells no! The gov't already gets too much of my money!!!!

[WellyP]

72% NO!

[DoughtyOne]

I wouldn’t either.

Did anyone see news of the massive recall by GM? Think it will get 1/1000th the press the Toyota recall did?

[rawhide]

What is to stop the obamma feds from screwing the shareholders again?

[AngelesCrestHighway]

Wouldn’t touch it!

[Mobties]

Well, we know what happened to the bondholders. I can't imagine having so much money that I could think of nothing better to do with it than to buy GM stock .... or one of those flagship “I coulda had a V8” $41,000 Dolts.

[pgkdan]

NO!!!!!!!!!

[MIchaelTArchangel]

Obamama has convinced me that purchasing a Government Motors vehicle is neither in my best interest nor int he best interests of the country.

[longtermmemmory]

it is a pump and dump.

an IPO would be about covering the union pensions. Then shareholders be damned.

[PGalt]

FGM

[Mr. K]

How about they give it back to the people they stole it from?

[paulcissa]

Tainted goods. Never in my lifetime.

[Piranha]

Yep. Dead to me, too.

[Mr. K]

With GM coming out with the $41,000 Edsel - I mean VOLT - who would think they had a good future?

[cableguymn]

76% NO!

Obama’s kiss of death at work again.

[Elle Bee]

I thought I already had bought shares in GM?

Now they think I would pay buy the shares from myself ... again??

.

[RingerSIX]

I’d buy one, If I could ball it up and shove it where it needs to go.

[WKUHilltopper]

What’s a GM??

[DTogo]

The previous share/bond-holders did so well last time...

[TexasBeth]

I was back to school shopping with my 13 year old daughter. She found some belts that she loved. They were made like a seat belt. The buckles had car makers stamped on them. She held up the one that she liked the best, and then a sad look came over her face. She said “darn, I want this one but is has GM on the buckle”, and then she put it back. I was sooooo proud!

[SouthTexas]

We already own the old one, shouldn’t have to pay for the same thing twice!

[Osage Orange]

Hell no!

[Vigilanteman]

A better way to phrase the question is “Would you voluntarily donate to the UAW?”

[taildragger]

an IPO would be about covering the union pensions. Then shareholders be damned.

And you forgot....

1.) The Union needs to sell their shares to make their "VEBA" whole.
2.) The US and Federal Gov't needs to sell their shares to get back their original cash outlay.
3.) They still owe old bond holders another 10% if my memory is correct.
4.) The Detroit News notes that given the number of shares they want to float that the share price would need to rise to $114/share to make everyone whole. Unless their are some "warrants" to exercised like Ford did with their VEBA to their UAW, I do not see how they do this, even with multiple offerings...

All the Wall St wonks say this will be a better deal than Ford, I don't see it. Ford is paying down their debt, and may be done with it in a yr to 2 years if they stay on this track. How does GM truly make everyone whole with the total nut being somewhere near or over 100 billion vs. Ford's 21 billion and their profit margin last qtr of 3.9% vs Ford's 8.3%

Tell me what your conclusions are after my data...

[catman67]

Up to 77.8% NO!!

[mom-7]

Would not buy the stock and I will NEVER buy a gm car again.

[Retired COB]

Obamama has convinced me that purchasing a Government Motors vehicle is neither in my best interest nor int he best interests of the country.

Yeah, and that goes double for Chrysler.

[wtc911]

No, no and no.

Won't ever buy a GM or Chrysler vehicle either.

[6SJ7]

This is going to be the best new stock offer since MCI Worldcom!

[dynachrome]

Government Motors will make money off the taxpayers backs, but I still would not invest one dime!

FREEP THIS POLL ***PING!*** FRmail me if you want to be added or removed from the Fearless Poll-Freeping Freepers Ping list. And be sure to ping me to any polls that need Freepin', if I miss them. (looks like a medium volume list) (gordongekko909, founder of the pinglist, stays on the list until his ghost signs up for the list)

[Stand Watch Listen]

Considering how the Obama administration totally ‘screwed’ the present bondholders in favor of the UAW’s pensions/ownership....HELL NO!!!

[bamagirl1944]

As one of those bondholders who got hosed, I believe I have already contributed my “fair share”. Can’t think of any reason to send good money after bad.

[Red Badger]

I would have to be drunk as a sailor in Shanghai the someone would have to forge my signature with my comatose hands..................

[WOBBLY BOB]

it is a pump and dump.

emphasis on the dump

[Lucky9teen]

Would you buy shares in the new GM?

21% - Yes (231 votes)
79% - No (869 votes)

[Secret Agent Man]

No. Not even if it ever stops being Government Motors.

They have this picture of the “future car” and it’s a damn two person bubble segway pod. There is no friggin way THAT THING is a car, and there’s no way I will ever put good money into a company that believes THAT is the way to go.

[AngelesCrestHighway]

What’s a GM??

Government Motors....

[erman]

why would anybody invest in a company with NO investor rights other than to fund union thugs, their hookers/bookies and drug connection or the democrat party. .... all the 2nd group can be mistaken for the 3rd group.

[justlurking]

Considering how the Obama administration totally ‘screwed’ the present bondholders in favor of the UAW’s pensions/ownership....HELL NO!!!

That's what I posted yesterday: when the GM (and Chrysler) bondholders are paid back the share that was gifted to the UAW, then I'll consider it.

bamagirl, I don't know if you owned a GM bond in your name, but most people don't realize that a lot of pension funds owned GM bonds... especially public employee pension funds for teachers, police officers, firefighters, and all types of state/municipal employees.

All of them got screwed, in the form of reduced pension benefits.... or depending on the state, the state taxpayers got screwed because we have to make up the difference.

I think this is the biggest untold story about this debacle. If you are uninformed, it's easy to dismiss the bond holders as "wealthy people who can afford it". But, the reality that a large part of this country were GM and Chrysler bondholders, in some way or another.

[AngelesCrestHighway]

[zerosix]

I’ll definitely trade some of my “WorldCom” shares for GM’s (hint: both are worthless!!!)

[Osage Orange]

Well it is the WSJ.....

But I sorta think...even the sheeple aren't buying the propaganda...from State Run Media

[rockabyebaby]

Would you buy shares in the new GM?

Bwahahahahahahahahahahahahahahahahahahahahahahahaha - oh sorry, ahem, that would be a NO

[winodog]

The predators and parasites at the D of C will force all public sectors to buy GM cars and will do everything they can to bankrupt Ford.

We are dealing with evil sunabeches in Washington

[taildragger]

I agree, but after November, things may not change much, but trying to screw a Ford or anyone else may get harder as those Federal Agencies may get some rather large budget cuts, thank you Paul Ryan.

EPA, NIOSH, DOT, Energy, and who ever is in charge of CAFE might be a good place to start...

[dusttoyou]

79.4% NO