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GM IPO Prices At $33/Share
Other people's money (most of it via the Fed), goes to fill other people's capitalization holes (most of it the Treasury's). And this IPO better have been bought with other people's money.
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Why is this IPO of importance to the powers that be?
All the large world wide banks are underwriting this deal to collect fees. This thing has been advertised all over the place cuz it's huge and they need a bunch of bag holders. I mean, who the fuck would invest in GM??
Twofold: Government owned now going mostly back to public. And more importantly IMO is symbolism of a Cinderella story. Makes people feel good that an iconic company can go bk and rise back.
And quickly go back to -0-.
'Cinderella story' lol more like the blind date your 'friend' set you up with, the portly gal who is not much to look at, but also has a shitty personality.
ooooo..been there, been there Sheep: ooog.
Ya gotta 'Ricky Gervais' yourself outta those nights. Stay sober.
Your pals should know: "Friends don't let friends drive drunk dogs".
On the other hand, you'd think GM would be going ballz to the wall quality-wise these days to impress us all with their latest 'feats of engineering'. It's not like they don't have the money to do so. I mean, granted it was all ours...
Anyone offering any reviews of their line-up? I know there are townships around here that have an unwritten pickmeup truck law about not driving a Ford near the local bar on a Saturday night. To be perfectly fair there are other towns where the same rule applies to Nissan Trucks too (though I have to admit that the Titan is impressive- I once saw one yank out a semi stuck in the ice/snow) or GM's themselves... but this is for another thread.
Just sayin' GM needs to put on a show right now, so it's currently likely that you could get a half decent deal on a high quality (or at least displacement) vehicle... for which technically you've already made some payments, remember. I do advise bringing this up with the salesman if you get that far.
http://www.youtube.com/watch?v=1N2ygprxBow&feature=fvw
I am beginning to think you are here for attention since no one can possibly be this naive. Do you really believe GM is a success story when unions continue to bleed the company dry? Certainly GM is iconic but until they can improve their cost structure they will always be one economic downturn away from another bailout.
GM makes boring cars. where's the innovation?
I want this car:
http://www.youtube.com/watch?v=JpKkPjsYAAw
Skoda is a VW subsidiary so not surprising their commercials are creative.
CW, the Skoda is mechanically the same as the VW Polo GTI. I have had an EOI with VW since the Geneva show in January 2010.
I think the Skoda actually looks the duck's guts as a 4-door, whereas the VW Polo (as a 4-door) is a bit bland. Unfortunately, no Skoda Fabia vRS in Australia at present.........
I am led to believe that VW Polo GTI's are arriving here within a couple of weeks - a nice Xmas present for me!
I wish we could get the GTI R20 in USA. I love that car. And yes VW has good commercials:
http://www.youtube.com/watch?v=S6iVyHX3g_w
and the Skoda Fabia vrs is sick. Who builds a car with a diesel engine that is BOTH turbocharged and supercharged and gets better mpg than a prius. VW innovation.
I have a Mark V R32 and love it...the sound of the exhaust alone was worth the price.
http://www.youtube.com/watch?v=WC00YoCHr_E
The 502 in my 69 cutlass with the three inch pipes all the way from the headers will reliebly set off car alarms whenever I want. Yup even your R32.
If I was looking for sound I would have kept my Pontiac (Holden) GTO with the 6.0 engine. Fun car to drive in a straight line but forget about taking a quick turn or stopping on a dime. I would take a R32 (or R20) and smoke a GTO on a course with some good turns.
wow. i didn't realize how sick that car is. thanks for the link, i could spend hours watchin top gear.
yes unions are the reason the dollar went to shit and thus skyrocketed the non$$ compensation..
you would think HERE of all places, which worships monetary theory would look past the MSM blame game headlines...
the dollar is dropping to shit, a million things going to hell in this country because of it, but NO - it was only the unions holding onto those damn benefits that we though we suckered them with instead of payraises that killed GM
what fuckin morons
GM only needs to stop exporting market share, stop with the idea of sharing anything. . Every whining bitch revolutionist, hates GM cause its goberment owned, but yet they love treasuries and munis cause they are goberment backed solid as a rock.... hilarious.... Go GM!!
It's a test balloon. If they can get away with making it look like they actually accomplished something by grossly violating rule of law in THIS market, then this is only the beginning.
33 bucks...does that equate to like one strand of Lady Liberty's hair on the Eagle coin?
Elegant.
Monkey,
Did you not actually know the answer to this question that you posed?
As for what it really means, this IPO is the ultimate manifestation of a Crony Capitalist's wet dream. I, personally, have been fighting off the urge to vomit all day long as the CNBC parade has gone on and on. Count Phil Laboe as yet another personality that immediately causes me to press the mute button on my remote. Man, that list is getting long.
"Wet Dream" same thing that I was thinking. Progessive's "Wet Dream" real honest to goodness national socialism. Resistance is futile, the state borg will absorb all. The only place left to flee to is fucking Mars.
You might be right about Mars. However, I can't get there, so I am heading to Iowa...soon.
WFD!
I will trade you some wheat for some corn, I live in Kansas.
Done...but you better know the f'n password...sent by registered mail...before you come up the driveway..... ;)
Of course, if it is registered mail, it will certainly be lost.
LOL - Better yet I will trade you some 223 for some Corn.
you guys should think about Maine. same 'tudes as iowa, but without the religious maniacs.
But I am a "religious maniac."
Also more snow, shorter grow season, and more shellfish.
has SAIC got approval to buy into GM? If they don't get their approval that could throw a big wrench into IPO tomorrow.
That money should be going straight to the taxpayers and bondholders who were illegally screwed.
I would not buy GM stock, almost the worst equity investment I can think of.
I am in the parts business (as many if you know ad nauseum), there are TOO MANY car companies, too much overcapacity in the world.
I don't know about that - Ford seems to be doing quite well.
You are an idiot if you think the GM and Ford situations are in any way similar.
Harry is right on this one, at least to a degree.
Pretty good move from 2008 low (under $2.00) up to $16.00 or so now. A 10-bagger.
But car stocks for me? Now? No gracias!
You must be age 70+, if not please excuse my following comment.
I hated Ford or GM cars already 15 years ago!
Have you ever driven a 2005+ German/Japanese car lately? If yes, didn't you feel the astronomical difference?
You're not only an ideological idiot, but even worse, a complete practical IDIOT, not realizing productivity groth of non US products.
Yes because they were smart (or maybe lucky) enough to refinance a lot of their debt before the financial crisis...otherwise they would have been in the handout line with Chrysler and GM.
Sorry Bill. The German and Japanese auto makers listened to their customers which Ford, GM, Chrysler, Chevrolet et all have blatendly ignored.
F*em, the war is lost!
Cars belong to Europe and Asia, America concentrate on inflation triggering war technologies. It will bring you down even further.
Personaly I am waiting for the ingenuity of the American inventors that spurred up about a century ago! Where are these innovators today? Or are they beeing surpressed?
I was commenting on the financial aspect of the US automobile industry and not so much their product...but I agree with you and I have had my personal fill of GM products to last a lifetime.
see Bill, you do speak some truth.. I just wish more people would realize that if someone paid a worker in the 70's $30hour + a tank of gas and pretty much left that as that worker's compensation for 40 years you would understand that the unions aren't to blame for the rocket compensation that they held onto...
(tank of gas <> benefits)
Correct! Not many people will say that, too much capacity. I know, I know...we are in orgy mode over the car companies just now.
However, you are in good company. Jim Chanos is with you, short Ford on the capacity matter. And I am short Ford too...as of yesterday.
A bullshit parade....
LOL!
Twice today, I heard Pravda [CNBC] call out $18 per share as "resistance" on shares of Ford. LOL! You have to go back to 12/1/2003 to build that chart.
Now I have no beef with Ford. I rather admire that they did not take a gov't bailout. However, the stock is now more than 700% off of its 2009 low, and pravda raises expectations.
I post because this is clearly the euphoric stage of trading the car companies. Common sense dictates...things ain't at all that good.
Are we watching the destruction of the Republic? That remains hanging in the balance. However, we are clearly seeing the death of a network in NBC. If Comcast does not close that deal quickly and clean house, Comcast will be an epic short.
$22 billion in auto paper coming to market...and the street raises the expectations for the price of Ford shares after a 700 % run. If you cannot smell the swamp water here...you are fertilizer.
well, what the Market Capitalization given the 33/share would be?
The unions, the communist, all of the so called anti capitalist are ironically going to ensure this deal appears to work and when the story gets old in a couple of weeks and something new grabs attention the stock will slide into oblivion. Oh once in awhile Ben will have this stock bought with his open market actions to help prop it up every now and then but for the govt and CNBC to call this a win it only has to look good for a week or two.
I thought you weren't a douche, so why are you frothing about the union boogeyman?
On occasion or two that could be a misnomer. Today I'm down on everybody. I have two GM cars and I get nothing from this. Unions got a big piece of this along with the typical fat cats. If I'm not allowed to profit then F everybody! When the Percocet kicks in in a little while everybody will be my friend again.
In oxycodone veritas.
Can I trademark that?
Absinthe is much better for ya! (in moderation -- i.e., don't drink a whole liter al at once!)
i bought some in switzerland a few years ago but never cracked it open. i got 3 kids so i thought i better wait. or on second thought, being they outnumber me and i'm too old to have kids this young...
Yeah, I know, I just get really fed up with everyone blaming unions for everything that has ever or will ever go wrong. Union membership has been on a steep decline for decades and instead of getting better the economy only gets worse. Rather than blame the "something for nothing" crowd (politicans, bankers, outsourcers), the "personal responsibility" shills blame other people who work for a living.
Paying out old investors with new investors money ...... Brilliant
Honestly I can't believe anyone would buy the new GM. Don't they remember what happened to all those people who had shares of the old GM? Even if such a risk wasn't extremely stupid, it's unethical because you're basically buying stolen property. GM should be a pariah for years before the public believes that any lessons were learned and gives them a second chance.
Any truth to the rumor that the hedge fund guy that said he would sell GM as soon as he got it on CNBC was found in a one car accident on a secluded road?
I missed it somehow .... did they get their symbol (GM) back ?
or is it going to be GMS ? (good morning, suckers)
symbol - FRD
Unless this POS is entirely FED supported, it has to drop like a rock. I cant think of any reason to even think of buying this crap at $33. I'd so love it if it dropped at least $5 tomorrow.
Don't forget we have POMO everyday this week. Banana Ben has to buy something with all of that moolah...
Chart: SPX
http://99ercharts.blogspot.com/2010/11/spx_2514.html
http://www.zerohedge.com/forum/99er-charts
I blame Bush for not forcing them into bankruptcy and providing DIP when they had the chance.
I blame Bush because if it weren't for his grand-daddy and daddy's money...
Junior would be fucking up my chili cheese dog order right now...
Unfortunately, it does seem that GM is actually making better vehicles these days. I have compared the Equinox to Toyota Highlander, Ford Edge, etc. and if financing works out will be buying the Equinox, as it has the best overall combination of space, cargo, mpg, etc.
Reliability of a GM vehicle, just saying...
I REALLY do hope that GM makes LOTS of good cars and that they sell LOTS in Peru.
We sell many of the bearings for GM there...
...
Don't buy the stock though.
Yeah, no shit! Just lost a transmission on a 2007 Suburban at a little over 100K miles. Might want to rethink that Equinox purchase. The Suburban is gone. Sold to CarMax before anything else goes.
Yeah and I know at least five people who've put over 150K miles on their 1994-2003 Pontiac cars. Something tells me the problem is between the seat and the steering wheel. If people would just take care of their vehicles, instead of running the oil out and cursing the evil UAW when the engine siezes...
This is what all the new QE2 dollars have been saved up for. Might see a surge tomorrow on open.
Fraud
That is where the POMO Money went. To fill the allocations. My bet is that they will try to Sell to Retail ASAP and then short the hell out of it.
make sure your 401K dont wind up with any Government Motors Stock in it.....Pay Attention
401K's are more n' likely the biggest buyers of this new GM issue. Most 401K plans don't offer a direct brokerage option, so people have no way of picking individual equities. The new GM issue will go into some index, and as we all know, additions to indexes draw loads of money as the fundies bulk up on the new issue to comply with the index.
Short of direct stock selection option in your 401K, pretty much every plan holder will be holding the new GM issue.
For anyone that finds themselves either retired, or unexpectedly seeking employment, you have options. You can directly invest your 401K in anything you want, only stipulation is you have to form a new corporation, hire yourself as an employee, setup a 401K plan for the new company, and roll your old 401K into the new 401K. Final step, buy company stock in your new company. 401K funds -> Company working capital, pretty simple process but you will need legal advice on getting it done. Anyone interested can private message me accordingly.
BTW - i don't sell these services, I used them and am very, very pleased with the results!
What are you talking about?? First I think you mean mutual funds, not 401k's, 2nd you can roll your 401k over into a rollover IRA in about 10 minutes and buy whatever the hell you want. Stocks, commodities, etf's, options, etc.
you would think anyone who bought gm would be a sucker and in a lawful world that would be the case. however, asa tbtf gem, gm can always count on taxpayer bailouts to rescue it from its incompetent criminally negligent management.
Just reported champagne was popped and GM management got a standing ovation. Could it be for pulling off the biggest bait and switch in the history of the world which will lead to the biggest pump and dump in history. Standing O. You gotta be fucking kidding me with this shit.
They are not kidding you with this shit. They are robbing folk....AGAIN! Never mind the bond holders they wiped out to get their "pristine balance sheet" as Phil Laboe put it. Never mind. Stop thinking, you fucking serf!
Line up, hand Morgan Stanley your money...and STFU!
The criminal syndicate known as Wall Street would like to thank you for your business.
Shorts are not just an article of clothing, get to it people.
C'mon everyone will be buying in the morning, after all who wouldn't want to own one of the icons of american business. I just heard this on CNBC and threw up in my mouth a little bit.
All the bullshit on parade;
Buffet giving the reacharound for TARP
GM with successful IPO
Trump for President
Obama is a liar and a schill with a teleprompter. When he doesn't get chosen again by the bilderbergers, I hope he goes on CNBC.
"Obama is a liar and a schill with a teleprompter."
WOW! Obummer is made for CNBC
I never thought of that. It will be just like the White House...
They will prop the Puppet of Wall Street up between a couple of sets of fake boobs for a photo op.
Obummer is extremely well qualified for CNBC!
Not sure why everyone is so negative, they got the volt for fucking sake
So...I need to know. Are you:
1. Being sarcastic
2. From a foreign land
3. Stupid
4. Both 2&3
(5) All of the above...
So let me get this straight. The government gave GM $30 Billion in bailouts to supposedly prevent bankruptcy, in exchange for a 60% ownership in the company. Then a few months later the government approves and fast-tracks a pseudo-bankruptcy that wipes out the unsecureds. And then not even a year later, a new GM IPO is announced. And then QE2 is announced, and just conveniently is arranged to begin the very week of the GM IPO. And to make absolute sure it is an initial success they hire HFT kingpins Getco to essentially price fix it.
Where are the accusations of conflict-of-interest? Where are the accusations of insider trading by the government? This country is Fascist now, without a doubt.
actually obama gave them 50 billion, pre BK
http://www.dailypaul.com/node/59066
$33? That's funny. I'm sure that number's ties to freemasonry are just coincidence.
So I currently own GM stock (common) at like .30 per share. Do I get that $33 bucks now?? Why is my stock so low????
How does this affect my stock shares???
Serf...mop the floors and STFU!
Hey, I resemble that!
Cdad, thanks for busting me up....laughed all the way off the bar stool.
Don't feel bad...we all own GM...although most of us had no choice in the matter...misery loves company...LOL.
I'm thinkin the EV-II should be just what the doctor ordered ;-)
From https://www.motorsliquidation.com/Home.aspx (Formerly GM Corp). :
"None of the publicly owned stocks or bonds issued by the former General Motors Corporation, including its common stock formerly traded as "GM", are or will become securities in the General Motors Company ("new GM"), which is an independent company. All of these securities relate to Motors Liquidation Company and will be treated in accordance with the provisions of the U.S. Bankruptcy Code and the rulings of the Bankruptcy Court.
Management continues to remind investors of its strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios."
Where is Cramer?
Pump, Clown, Pimp... I mean Pump...
Everybody on the bandwagon to buy the GM IPO so the goobermint can buy defaulted muni's. lol
I aint buying that Bull Shit.
The real investors and funds know what is going on, and all they are doing is buying it and then flipping it when it gets to a certain dollar value. As I've been saying for awhile, GM still have the same problems they had before the "bankruptcy". They aren't a viable company anymore unless they are allowed to get rid of the union contracts and even the pensions. Tomorrow is going to be a game of chicken, where institutions try to figure out when is a good time to dump. Tomorrow, tomorrow afternoon, next week, whenever but they will dump because they know that without the govt. essentially changing bankruptcy law midstream for GM, they would have been sold off in pieces and the union workers ould have lost their benefits.
Really, if you think about it long enough, the only people who should own a car-maker's stock are the people building the car and paying for the warranty.
$33/share!!!!
Fuck me!
The idiot and his money are soon parted!
So they declare the old shares worthless and make new ones? And people buy them? The same people who had their old shares become worthless? Or are these new people?
Who's running this place?
/sarcasm
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