Skip to comments.General Motors Can Fly Again for Stock Sale
Posted on 11/03/2010 10:45:22 PM PDT by Nachum
DETROIT General Motors executives have been cleared for takeoff again.
The automaker has been given the go-ahead by the federal government to use chartered aircraft as early as Thursday to ferry managers on a road show promoting G.M.s public stock offering, according to government and company officials who declined to be identified.
It is believed to be the first time that G.M. will use private jets for business-related purposes since the government demanded that it sell its fleet of corporate aircraft in 2008. As a condition for accepting emergency federal assistance, G.M. has required its executives to travel on commercial airlines.
The use of private jets by the Detroit automakers to fly to Washington for Congressional hearings on an auto bailout in November 2008 was harshly criticized by lawmakers, who saw the jets as symbolizing the industrys need to cut unnecessary costs.
G.M. and other executives drove to the next hearing.
(Excerpt) Read more at nytimes.com ...
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Can you believe the timing? LOL
Government Motors is going to sell stock to us in the UAW controlled and partially owned entity that already owes us, (Mrs & Mrs. John Q and children and grandchildren) and fly around the country in chartered jets to promote the stock offerings?
Such a deal./s
I was just getting ready to send you this ....*LOL*
The hilarious thing is I have friends who actually think this dog will hunt.
I say it’s just another mutt with mange.
Thanks for the articles.
It’s unpatriotic to buy a GM car or stock.
“General Motors Co. will drive away from its U.S.-government-financed restructuring with a final gift in its trunk: a tax break that could be worth as much as $45 billion.”
now here’s where Soros “invest” money to drive up the IPO.
People’s ears perk....take the bait..Soros bails.......guess who loses again?
Soros money investment has already been made by shorting the US AND INVESTING IN FOREIGN OIL WHILE HE MANIPULATED DUMBO’S MORATORIUM ON OUR OWN OIL PRODUCTION
SOROS HAS ALREADY INVESTED 10 BILLION IN SOUTH AMERICA WHILE HIS WILLING PUPPET HOLDS UP OUR PRODUCTION.
They owe their prior stockholders and bondholders (not to mention the taxpayers) mucho dineros!! This is simply another ripoff!! Government Motors = Epic fail!!
IT’S AN ENORMOUS THREE CARD MONTE GAME
They owe their prior stockholders squat. That's the risk that comes with equity. I agree with you though that their prior bondholders got screwed Chavez-style.
Ripoff is putting it mildly! To me, it seems closer to hanging the taxpayers by the ankles and shaking them until every dime will fall down.
AND, this is just one of many their money scams/schemes that have cost Americans dearly.
I look forward to the day that this bunch of crooks gets whats coming to them.
You try telling people how he made his first billion and their eyes glaze over.
Soros needs to go to Gitmo (along with Buraq Hussein)...like tomorrow.
DUMBO’S backer...not a whole lot to discover if you knew this POS.
GITMO HELL...the gallows.
Let’s see, Oct. sales for GM, up 3.5%; for Ford, up 19%. Math is not my strong point, but GM wouldn’t get any stock purchases from me.
Looks like a great short!
promoting G.M.s public stock offering,
They rip their prior stockholders off and now want them to buy stock again.
Uh, beg to differ with you. The usurping president (cough) of the United States, wiping his feet on the constitution, stepped in and seized the company, fired its CEO, ripped off any remaining assets owned by the stockholders, ripped off the bondholders and creditors, raided the U.S. treasury and dumped taxpayer money into the company and then gave it to his cronies and campaign donors. Now he wants more. Lots of riping off going on here.
I believe there’s more than enough information & evidence to convict either/both of Treason.
“Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort.”
Palestinian leader [speaker of the Palestinian Authority parliament]: ‘Kill every American and Jew’ — http://www.wnd.com/?pageId=41420
Obama Pledges New Aid to Palestinians — http://www.nytimes.com/2010/06/10/world/middleeast/10prexy.html
And that’s a quick, effortless search.
There are millions of ignorant people who will buy this stock. How do I know? They voted for democrats.
Why do I have this feeling that China will become the majority shareholder.
Will the Fed buy GM stock with some of their $ 600,000,000,000 early on to pump-up the price?
GM to Get Tax Break Worth Billions
Dems recognize lower taxes always work to grow Union owned businesses.
Big Jim must have read page 734 of GM's own IPO document:
We have determined that our disclosure controls and procedures and our internal control over financial reporting are currently not effective. The lack of effective internal controls could materially adversely affect our financial condition and ability to carry out our business plan.
If you want to make a killing, SHORT THE HELL out of this one after it comes out.
Doctor heal thyself!
1.) Ford Stock is on a tear as of late as they approach pariody i.e. cash on hand equals debt and they may soon obtain investment grade status.
2.) With that said Mutual Funds by their charter will almost be forced to buy Ford as they reach investment grade.
3.) What a co-wink-a-dink that the GM IPO is happening at almost the same time.
So will GM by accident or design be trying to ride on the coat-tails of Ford's success?
Inquiring critically thinking minds want to know....
This is Obama rewarding his friends and punishing his enemies. $45,000,000,000 worth.
That is why GM is not going to get a dollar of my money. Starve the commie nationalized beast. I hope all those on welfare enjoy their $41,000 Chevy Volts.
You miss the point, and that is not a hit on you.
The 45 billion is approximately GM's Retirement Liability that is still hidden within the books and never got expunged since their bankruptcy was not normal and violated all rules of bankruptcy.
1.) QE2 puts cash in the system to buoy the markets.
2.) GM goes public at the same time.
3.) Team Obama gets rid of this 45 billion large with a slight of hand.
4.) GM ride on the coattails of Ford working their @$$ off to get out of debt as they approach "parody" i.e. cash on hand equals debt and their stock being on a tear.
So I ask, is team Obingo creating another market "bubble"?
parity not parody
Thanx, needed more coffee and spell check @ that early hr... :-)...
VERY interesting connection of the dots. The more I think about it, this is no coincidence at all. This is market manipulation on the grandest scale in full view of the public. If I were to read this kind of crap in a novel, I would say “no way could something like this happen - too far fetched.”
There is no way in h*ll Obingo ever could get re-elected if the IPO of GM bombed. This SOB is putting the entire economy of the world at risk to try and get re-elected.
Which leads to your last question...
“So I ask, is team Obingo creating another market “bubble”?”
I would say yes, and it may be the mother of all bubbles as they plan to coat the entire US with a thick layer of printed money to ensure the GM IPO is “successful”.
And there will be h*ll to pay when the inflation scythe cuts down the remaining wealth in this nation.
No wonder all his economic advisors are quitting and getting out of DC as fast as they can.
Very insightful post.