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Presenting The GM "Insider Purchases"
In parallel with today's latest market implosion, the shares of the once and soon to be again bankrupt vendor of Channel Stuffed vehicles, GM, are down to $23.59, nearly 30% below their November IPO price. Unfortunately, the share performance demonstrates what happens when an artificial HFT price support, in this case, Getco, crashes and burns. Yet what is ironic is that according to alleged GM part-time advertising clerk Phil Lebeau this has to be taken in context with the substantial insider buying that has also been occurring in GM shares. Fair enough: we decided to observe just how substantial this insider buying has been. After all, the one recurring theme we hear non stop is how aggressive insider buying has been in recent weeks. Alas, when it comes to size everyone shuts up. Perhaps here is the reason: since the Company's IPO insiders have purchased a massive... $2.256 million. That's a total of 74,000 shares. And oh yeah, offsetting this are $4.1 billion in insider sales. So, once again, this whole insider buying argument, unfortunately falls flat on its face.
A chart showing why the unions are not too happy. That equitized VEBA sure ain't looking too hot right about now.
Insider "purchases" at GM... Oh, yes, and selling too.
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gee tyler i thought obama saved the world bailing out GM, how could i have been so wrong?
he will look like a fool when the fail again.
No surprised insiders have been working overtime to keep this pig stuffed
GM schmeeM
It`s Holiday Time
a collection of Martha`s Vineyard Webcams
http://www.mvtimes.com/marthas-vineyard/webcams/
Martha's Vineyard. Now that's how you create jobs!
What an asshole.
http://azizonomics.com/2011/08/17/job-creation-101/
He already looks like a fool and probably added to GM's losses with his comment that it's no longer profitable to build trucks.
Any remaining rational shareholder would would dump his stake immediately with a Community Organizer now publicly looming over management decisions at GM.
this was the simpilest scam ever....new gm....ipo...spread propaganda till cancer is spread to all mutual funds 401's ect. than once dilutted enough so we can all share the pain ......than let it swim on its own....than thru the triangle of fed, tres. and banks the rest of govt shares will be bought at a major premium by the taxpayers....
and the truly sad part is, its not our poor and ignorant that are allowing this to happen its the educated , upper and middle crust that dont know a thing about the sheer criminality of our financial system...they just think it goes up and down...they learned from '08 that ..."look i rode it out and it came back i'll hang in there...these are nice people that trust and their trust makes them blind...and when their life savings disappear they will still not know...typed for content...not to satisfy grammar nazis, so like always all gram. nazis are invited to go fuck themselves.....now
He will look like a fool only briefly as GM will promptly be bailed out again.
...according to alleged GM part-time advertising clerk Phil Lebeau, formerly w/ col. hogan, in stalag 13...
All he has to do is make sure they last through 2013 then it will be somebody's else's fault.
Or maybe it will be Bush's fault?
I can't remember all the rules to this game anymore.
we won't make it anywhere near 2013 before the entire system collapses.
So if that's the case get yourself onto twitter ASAP.
Was there a system?
-snip-
yes...the only question is whether the administration will intervene again...and again....and again.
whats good for GM is good for the country....look out below.
Why not just admit it wa a failure have Benny and the evil jets buy up all the shares, I would think 1000.00 a share should be stimulative enough.
Makeiitso!
That is the plan, but the price of the shares has to be zero first. Then they own boardwalk, park place, and all the slums. Only soultion then is jail and they have the get out of jail cards too.
pwned
When does the next bailout begin?
GMAC will make up the difference.
Correction: AmeriCredit will make up the difference.
See their new slogan? "No job? no money? no life? Let GM put you back on the road!!"
Lmfao!! I hate that gddam company with a passion.
Oh is it that time of year already? How time flies...
damn, you and your pesky details
I hear Ben Bernanke has approached GM about the feasibility of them entering the helicopter business...
No idea why
bailout fail.
Wonder what their next IPO price will be...
Penny Stocks comes to mind.
so you say GM will line up next to the "big" banks pretty soon :)
RACE TO THE PENNIES!!
My brother calls him Phil Ladouche. It's funny because it's true..
but, but, but, they told us we would make a lot of money on this deal..............
Obama "saved" or "created" a lot of money by bailing out GM.
it's like bailing out a sinking yacht with a teaspoon, a silver teaspoon
I wonder what the end of the year sales will look like.
They'll probably raise prices while offering to fast-track your government subsidy application.
in which currency?
Size DOES matter, bitchez.
Is that what your GF said?
I owned a Pontiac LaBeau. Even after turning off the engine it would making a senseless sputtering noise.
I've heard the Bernank's Printing Press does the same thing. Only thing is no one has had a chance to hear the noise take place as the printing press has yet to feel the off switch.
There's still 90 minutes to the close. These are the dull days of summer. Jeez
"according to alleged GM part-time advertising clerk Phil Lebeau" --- LMAO -- thanks
I rate General Motors a STRONG BUY, but only for Kirk Kerkorian
what happened to the chevy volt ? I haven't even seen ONE
there's one parked @ a dealer near me. I saw a couple of dealership guys staring at it the other day, I think they were trying to figure out where to put the gas.
The Chevy Volt is the only electric car that, oddly enough, needs gasoline to move forward.
In more normal times, GM would be a good example of central planning EPIC FAIL. Unfortunately, however, there are much, much bigger failures on the horizon.
But ya just gotta admit watching LeBeau spin this shit is really good, clean fun. Where else can you watch a monkey perform these tricks live?
Anyone who thinks it was a bad idea to bail out GM is a racist. There, I said it.
and a terrorist
and anti-Semitic
and a proletariacidal maniac
and and a end ...
why why did America die
bailed out Chevies, banker heavies
now our coffers are dry
and rich old men drink young blood with a sigh
singing this'll be the day that I lie
this'll be the day that I lie
President Zero's car company shares shall continue downward until such time as they are zero, as well. That the criminal syndicate known as Wall Street perpetrated the great lie that GM was reborn, instead of bailed out, is one of their highest criminal achievements.
And the American people should never forget this, both the disgusting car company that took money from the tax payer kitty...or the institutions that brought it back to the market for a second round of theft.
But, but, but....GM paid back their loan, through another loan. Did they pay off the bridge loan yet? How about Uncle Sam's equity position, which is the bulk of the "loan".
My wife just purchased a Ford and the dealer was talking about how EVERY customer that comes to buy from Ford still mentions the bailout. Good to know not everyone forgets.
I drive a chevy truck now...2005. I'll never buy another GM vehicle...ever.
That company is doomed.
Only in an economic sense. In a political one though, well... let's just say that many people will no longer be able to afford a new car unless it is heavily subsidized by Uncle Sugar Finance Inc.
Also, does GM make buses? Not many public trans entities can cover costs, so I can see them getting free buses in order to fill a budget gap (40' buses run around $450k-$500k), especially if they are LNG vehicles (city nearest me is getting a federal grant to build an LNG station for the two shuttle buses they are buying this year).
This criminal achievement pales compared with the engineering of the housing bubble and the confiscuation of human rights and propety.
GM will still "sell" millions of vehicles. The US taxpayer will just be the ones buying. All the parking nazis around me are all driving brand new Cruzes instead of the last gen Focus they have been driving for the past few years.
On mainstrem sites they are all proclaiming how the Cruze is killing all other cars in sales. I say its easy when the government is buying thousands every month.
But it is a great car. Yep it was sent out from the factory with a faulty suspension that needed to be fixed before the cars went to dealers. You don't know if your steering wheel is bolted on. You might be in reverse when you put the car in park. Who knows what will creep up on the car. I bet there is a recall on door locks, windows, and gas tanks coming just like every other car built in the crap plant at Lordstown.
The "Big 3" all died sometime in the 1970s. They have been kept alive by government and rent-a-car fleet sales. They have been on the government tit for 40 years.
not bad for gvt work not bad.
Government Motos is a car company that doesnt make cars. Their business is to make fat pension plans for union workers who build 50k$ dumps that run on subsidized inefficient hybrid engines for marketing reasons. The Teleprompter will bail them out as long as the dollar can be printed, although those days are numbered.
Besides, anyone noticed how every GM commercial focuses entirely on fuel efficiency as if there was nothing else of significance to discuss about their cars? Like "our pick-up trucks are the most fuel efficient in the industry", etc.?
+ $74/hr
Everytime I see LeBeau I think "How much jizz can one man swallow?"
I can only be thankful I quit watching CNBS before seeing this comment.
Probably covering the shorts their brother in law sold to Cramer, who I will never forget the day after the IPO was telling everyone to buy GM up to $40.
Buy, buy, bye!
This reinforces my prediction that what we'll see next won't be QE3. It'll be another round of fiscal stimulus. There's a lot of good reason for this theory, including economic forces and political.
You heard it here
I bet those purchases were mandatory. "Either by some stock or get fired, we will pay for it of course"
i am thinking same
perception management
what are they chances that the markets overall is being supported likewise?
these componaines have access to 0% financing
Leave Phil alone !!!!!!!!!!!!!!!!!!!!!!!!!
Why does everyone rag about the GM bailout so much? They got a miniscule fraction of the bailout that the banksters got. They actually make something tangible (cars), when almost all of our manufacturing has been outsourced to China. Their former president was publically humilliated for actually flying a corporate jet to Washington, so he DROVE from Detroit to Washington in a Chevy Malibu on subsequent trips. He was then FIRED by the Messiah. For all their shoddy product history, the quality gap between their products and foreign cars has closed considerably in the past decade. The ZH feeding frenzy over GM is like a shark eating itself - like ir not, stuff like GM is all we have left in the US. Have some respect.
The pisser about the bailout was not about taxpayer monies... those are wasted 24/7/365.
It was about a complete disregard and abrogation of the rule of law which the Government is meant to uphold as opposed to acting like a swarm of hoodlums, when the rights of senior bondholders were run roughshod upon.
No, repeat none whatsoever, class of interested party to any capital structure takes precedent over that of the senior debt holders with few exceptions such as Debtors-In -Posession which here, did not occur. And in particular, not a politically interested but financially unsecured counterparty.
Travesty of Justice, of the Very Foundation Upon which Private Ownership is Based.
Yes, violation of the very foundation of a society based upon laws, rights and the private ownership of property. This alone will one day be cited as the single largest element in the Decline of Empire, for the government has proven itself a Kleptocracy.
Conspiracy Theory, My Ass.
Fact, Front and Center Simple.
Yep , as good a day as any other to pick for the day amerika died.
+1, it was outright theft from the bondholders, and wiped out the average joe who was suckered into holding common stock, all to payoff union thugs.
The bankers paid the money back.
GM and the govt. screwed everyone's pension fund (except the UAW) when the equity and debt was made worthless. The Union ended up with about half of the new venture, along with another $50 billion in continuing tax loss carry forewards as a gift.
The Union has already announced the plans for the clawbacks on any pay reductions.
Screw them next time and hook them up to some Volt batteries while doing it.
Will Fill-the-Bowl will finally get shit-canned when GM goes bankrupt again?
Da Caddy Shack Volt: Respect is an option not offered this or next year.
Special southern option in black called "The Car - ter." it farts
green gases when its stomped in a drag race.
comes with tax credit but only if you make less than $ 250,000
loan secured by Jet;
w/Maintenance plan for 10 years lie, 7 lie, 5, lie, 2years, lie
OK OK OK, no guarentee; is off when you drive it sucka.
at 15% loan by Bankers financing in included
sold to Fraudie Mack and May I; 200 fico score/ no job needed.
Car comes complete with vomit bag and 1 years free foodstamps.
but only if you register Dumyycrat;
Maintenance plan allows SPARE CHANGE for bus, in Canadian only
bus rides, and free Bus Towing only in Canada restrictions.
conditions and restrictions apply, promises subject to change.
Yes you can buy, NO YOU CANT sell.
I moved to Atlanta, Ga. in 1983 and noticed that there weren't very many new cars on the road; nearly nine years later [1992], I noticed that the number of new cars was accelerating at a good clip. Of course, by 2000, there were new cars everywhere. Now, the used and older vehicles are beginning to constitute the majority of the cars on the road. Just an observation, and yes starting in 1992 the trend towards new cars was very noticeable - it later became a noticeable tsunami.
I hope this goes to ZERO, just to see the look on their disgusting, greedy, union UAW faces!
Of course it's possible but scary that they could then just be bailed out again.
If that happens, ironically we will be far more Communist than Russia currently is.
What'll they say if (or when) this thing hits a CHAPTER 7????
KRONY KAPITALIST AMERIKA.
I'm waiting for someone at an Obama Listening tour event to ask for a return of all that money the govt. screwed them out of with that obviously overpriced stock. Maybe Obama will see the light and agree to refund the losses since the govt. he runs did the fraud. I suppose that would open up too many refund requests for the remaining scams.
I read somewhere that Volt sales were really, really, really great. About 120 vehicles a month.
I'm short the stock in anticipation of the gap fill from their closing bk price of $0.27 to where they're out now...