| Author | Message | ||
     Buellkowski |
The upcoming IPO is expected to reduce the Fed's ownership of GM from 61% to that of minority owner status, one year after the $50B bailout. Not bad, I think, and certainly not a move one would expect from a "Marxist/Communist" administration.  One question I have is what effect the IPO will have on the GM shares the Fed already owns. The President has stated that he wants to ensure taxpayers get their money back; will the IPO help make it easier for the Fed to sell off their shares? The other issue has to do with the apparent notion that the IPO will be limited to investment banks & billionaires, but not open to Joe the Plumber. Does this irk anyone? With the blasts against GM I've been reading on BadWeB I can't imagine many folks here even want to own GM stock, no matter the potential for gains. IMHO, I don't care who the IPO is open to as long as it maximizes the value of the Fed's shares so they can be sold & the proceeds returned to taxpayers. (Message edited by buellkowski on August 05, 2010) | ||
| Midknyte |
Deck chairs and shuffle'ing... So are they creating and selling shares such that they can offset and get ahead of what the Fed has invested in them? Or is the Gubbamint cashing in their shares? And what's the hoo-ha about IPO and public shares [in GM] anyway - it's technically [stolen/appropriated] public sector money that just floated them and they want us to buy into them again? heheh, talk about double taxation | ||
| Pragmatic |
I don't know how the current IPO is structured and I'm not a finance whiz. The April 2009 offer to bondholders (of which I am one) splits up the new IPO as follows (assuming I'm reading the 180 page document correctly): Union gets 39% of company (in exchange for $10B owed to the union by GM) Government gets 50% of the company (in exchange for funds of $20B other parts of federal loans to be paid off) Bond Holders get 10% (in exchange for $26B of retired debt) Stock holders get 1% | ||
| Cityxslicker |
Go read what Lenin did with capitalist investment and capital in 1921 with N.E.P. (hint it rhymes with the mess Obama has going with GM) It didnt work for them.... it wont work for us. This 'revolution' has already been played out and lost. | ||
| Whisperstealth |
Any takers on a little bet? Buffet grabs a slice of that pie. | ||
| Buellkowski |
More news in preparation for the IPO. Expected to raise $16B. | ||
| Cityxslicker |
Glad I dumped GM when I did. Ford is performing well for me. Even happier with dumping HD when I did. Looking to pick back up on Tamiflu for another h1n1 drug bail out  |
