GM to file for IPO Friday

Analog

Lifer
Jan 7, 2002
12,755
3
0
Washington -- General Motors Co. plans to file paperwork to launch a public offering on Friday, two people briefed on the matter said today. The move -- first reported by CNBC -- will allow GM to begin selling shares before year's end, and will come a day after the company will report a profitable second-quarter results. GM chairman and CEO Edward Whitacre Jr. told The Detroit News in an interview last week that GM would be solidly profitable the rest of the year. He also hinted GM would post better results in the second quarter than it did in the first quarter, when it earned $865 million. One person briefed on the matter said GM is expected to report more than a $1 billion profit tomorrow, including strong results in North America, Brazil and China. http://detnews.com/article/20100811/AUTO01/8110418/GM-to-file-for-IPO-Friday#ixzz0wKqwB3HL
 

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
102,366
8,481
126
does this mean we can get our bailout money back? maybe?
 

techs

Lifer
Sep 26, 2000
28,559
4
0
Much of the bailout money will be repayed, but iirc some is gone forever, from GM.
However, due to the bailout saving the company, many people will still have their health insurance and pensions, which will save the U.S. in future medicaid costs, and also in the aid the laid off workers would have needed. Plus, they will still be paying taxes, instead of working at McD's and being a drain on the economy.
Not too mention that if GM went under it would have been a big blow to our trade balance.
 

BoberFett

Lifer
Oct 9, 1999
37,562
9
81
It's easy to be profitable when you give someone billions of dollars and wipe out all their previous debt.
 

FeuerFrei

Diamond Member
Mar 30, 2005
9,144
929
126
Uh, why invest in a company that's been told it's too big to fail?? >_>
Sounds like a recipe for sound financial decisions and customer satisfaction!
 

kami333

Diamond Member
Dec 12, 2001
5,110
2
76
I'd stay far away, based solely on the fact that there are a lot bitterness from former GM stock holders who won't be interested.
 

SunnyD

Belgian Waffler
Jan 2, 2001
32,674
146
106
www.neftastic.com
They should be forced to split their IPO and give each US citizen an equal number of shares, totaling the entire IPO. Nothing else should be allowed to be "sold" for profit to investors until the entire bailout given to them has been paid out in dividends to those that own the IPO stocks.
 

techs

Lifer
Sep 26, 2000
28,559
4
0
I'd stay far away, based solely on the fact that there are a lot bitterness from former GM stock holders who won't be interested.

Yes, don't invest in a company because you got burned.
Evem after GM set profitability records 10 years ago.
People seem to forget that fact.
It was Ford in dire straits not too long ago. In fact, if Ford had the resources back then they would have invested heavily in large SUV's and made a ton of money like GM. Their lack of money back then is the reason they are doing well now.
 

JS80

Lifer
Oct 24, 2005
26,271
7
81
lol file bankruptcy, fuck the shareholders, screw the bondholders, steal from taxpayers, redistribute to union labor, file IPO, repeat cycle.
 

Eli

Super Moderator | Elite Member
Oct 9, 1999
50,419
8
81
They should be forced to split their IPO and give each US citizen an equal number of shares, totaling the entire IPO. Nothing else should be allowed to be "sold" for profit to investors until the entire bailout given to them has been paid out in dividends to those that own the IPO stocks.

Sounds good to me. ;) lol
 

techs

Lifer
Sep 26, 2000
28,559
4
0
lol file bankruptcy, fuck the shareholders, screw the bondholders, steal from taxpayers, redistribute to union labor, file IPO, repeat cycle.

Yes, its much better to bid for military hardware at an unreasonably low price and the then get the government to bail you out with "cost over runs" in the interest of "national defense".
In fact, it works so well its been repeated a couple of dozen times
 

JS80

Lifer
Oct 24, 2005
26,271
7
81
Yes, its much better to bid for military hardware at an unreasonably low price and the then get the government to bail you out with "cost over runs" in the interest of "national defense".
In fact, it works so well its been repeated a couple of dozen times

Can I participate in upside to the military industrial complex? Yes buy shares in Lockheed, Raytheon, Boeing. Or buy Index funds which hold it.

Can I participate in upside to cash funneling to union labor? No.
 

techs

Lifer
Sep 26, 2000
28,559
4
0
Can I participate in upside to the military industrial complex? Yes buy shares in Lockheed, Raytheon, Boeing. Or buy Index funds which hold it.

Can I participate in upside to cash funneling to union labor? No.

When American workers make a decent salary we all gain. And you can buy stock in GM, too.