Breaking: General Moters CEO to Step Down on Sept 1 (Bailing before IPO flops)

Wall Street Journal ^ | 8/12/10 | WSJ

[jimbo123]

DEVELOPING STORY

GM CEO Whitacre to step down Sept. 1. Board member Dan Akerson to succeed Whitacre as CEO.

[jimbo123]

The Government Motors IPO is going to be a flop and Whitacre is bailing before The Kenyan and the UAW thugs throw him under the bus.

[B Knotts]

Unfortunately, they’ll just keep shoveling money into it to keep the union afloat.

[SnuffaBolshevik]

Hope his Volt is fully charged.

[DManA]

Maybe he can’t look himself in the mirror after he told that whopper that GM repaid it’s bailout money.

[Red Badger]

Who in their right mind would buy such a stock after what they did to the last set of investors and bond holders?.................

[jimbo123]

The UAW and The Kenyan were forcing him to do an IPO that the markets won’t support before the election. So he told them to kiss his a**.

[HamiltonJay]

How the hell do you have an IPO on a stock that’s been trading for what? 70 or 80 years?

You can’t have an “INITIAL” public offering on a company that’s been trading for 7 or 8 decades.. you can sell more stock to try to raise more money, but there is no way it can be called an “initial” anything.

[maggief]

Not me. Been there.

[fishtank]

[jimbo123]

Obama and the UAW told him to do the IPO before the elections or quit. So he quit.

[ZX12R]

Who in their right mind would buy such a stock after what they did to the last set of investors and bond holders?.................

Think of it as a national idiot count.

[jimbo123]

It’s public stock in the NEW GM. Currently owned by Obama, The UAW and The Canadian government. They want their cash before the November election.

[Upstate NY Guy]

IPO?

Initial Public Offering?

[Red Badger]

The “old” stock is no longer GM. The “new” stock is the “NEW GM”.............

[Red Badger]

Si, senor.............

[Paladin2]

Whitacre didn’t do much better than Wagoner.

[fishtank]

Notice the Trabant's license number..............

[Red Badger]

Like lottery tickets are a “Tax on Stupidity”...............totally voluntary..........

[This Just In]

GM company motto:

“We’re GM. We own you and your cars.”

[jimbo123]

Initial Public Offering. Obama and the UAW want to cash out to the public so they can kill the company once and for all. Their scheme will only work if it happens before the November elections.