You want to fund GM’s liabilities then get into their IPO.
Given the companies record who would be stupid enough to buy stock??
It’s toxic — stay away fromn this one. They’re looking to finance production of those lovely battery powered green mobiles.
Picture this: They raise $$$ from bond investors to produce these, nobody wants to buy them, they are forced to sell them at a huge loss and/or Obama gives them some stimulus $$$ or gives buyers big tax incentive to buy. Either way, more of the same idiocy...
GM should have been closed down and the union parasites who have bled the company dry should be left to starve.
Want to buy into an insane asylum where the inmates run the show...err, a car company where the union owns the business...go ahead and buy into the IPO. Just don’t expect hardball negotiations on the next union contract and the cost will be yours.
I know nothing about this stuff. how can they do an IPO when they sold stock before?
isn’t this where the stock holders got screwed during the bailoug and the unions got rewarded?
I know when I go to buy stock I often ask “which company required 20 billion in bailout to stay afloat and kept the same management?”
“In addition, Mangan said brokers will not be highly incentivized because the underwriting concession and sales allowance for selling the shares is extremely low compared to other IPOs.”
So if they had good enough salesman, they could find suckers to buy this? Maybe some rich Arabs or Japanese.....
Not to worry. The money will come from O’s stash.
Perhaps if they gave away a new Chevy Volt with the purchase of every 100 shares it might spur stock sales and the production of these white elephants. (sarcasm)
Ask George Soros to invest heavily.
Never in my life time (and I have many years left to live) will I ever buy, use, contribute to any GM product, even after BO is long out of office.
This is a bad investment, whether at an absurd and ruinous $50 a share, or $10 a share, or $1 a share, or even a less shocking but still overpriced $0.01 a share, or 100 shares for a penny. Profiting off of the nationalized version of GM would be immoral when they are keeping $30B plus in taxpayer money and the bondholders were ripped off by executive fiat and in violation of written contracts, bankruptcy law, and generations of common law, but there won’t be any profits for those stupid enough to invest to worry about. I am boycotting GM as an investment, and I am boycotting their products forever. I expect the vast majority of real Americans to do the same.
Um, shouldn't that be investors not needing to be institutionalized?