GM Fraud IPO

Looks like GM is going for a IPO after all, $25 a share but no mention of the volume. Just more GM flack.
http://www.cbc.ca/money/story/2010/10/13/whitacre-predicts-ipo-share-price.html

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DC, is bankrupting Americans

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Apparently you have never been a stockholder or you would know no one knows what price the initial shares will bring. IPO are a biding process, just like when one buys outstanding shares from current holders of any stock.

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The price of a share is irrelevant in any stock purchase. What valuation it has is what maters. Bidding, perhaps if that is the way it is offered.
I would rather own 100 shares @ $1000 per share where real value exists than some GM penny value selling at $1 and 100 billion shares out.
Real possibility government over values, IPO fails to meet minimum sold bids and gets canceled.
You are the one that neither owns stock nor a GM product. Or the first thing you would have looked for in the story is market cap. Governments idea of their cap isn't disclosed.
On 13/10/2010 5:30 PM, Mike wrote:

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In Alberta, Liberals are like rats, not many of them around.

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I own stock in a lot and bonds of different companies and banks, from whom I do not necessary use their product(s.)
As to the former GM, I owned a large block of stock from which I earned a lot of money. Even though I lost the value of the stock when the old GM went under, the money I did earn over the sixty some years I did own that stock was far greater than the amount I lost.
Over the years I did own vehicles from Chevy, Pontiac, Olds, Buick and GMC. I also owed every brand of vehicle sold by Ford, Chrysler, as well as cars from Studebaker, Toyota, Lexus, Honda, Nash and Keiser.
I presently own five Ford vehicles, two Lincolns and a Ford truck.
I intend to buy some of the new GM stock, as well, whatever the bid price.

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Me, I am on the fence with GM, until I know its liabilities, cash flow and anticipated capitalized value, I am out. If they price it too high, I will short them and see what happens.
Heard some idiot think $76 billion for market cap, that makes Ford look like a better deal. But I already made a pile on Ford. I bought a bunch at $2.25... when GM went bust. Since sold them off for a hefty profit as I see a second downturn coming.
Asia for example is going through a housing bubble now, some 60 million places not occupied. Scary. If China slows down, good bye world spending power, right back into a depression that may not be over for decades.
On 14/10/2010 9:04 AM, Mike wrote:

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In Alberta, Liberals are like rats, not many of them around.

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I was a registered Democrat from the time I turned 21 in 1947 and was able to vote. When Reagan came along who also had been a Democrat, I voted for him and eventually switched to Republican. Never in my life have I cast a straight party vote. I always voted for the individual candidate that I believed was the better candidate for a particular office. After the election I lived with the fact that the guy that won would do what was right and was never concerned about what would happen if he did not.
Today I, like many Americans, am deeply concerned about the fate of our county. We have put in power people, who I my opinion have taken our county down a path of European type socialism that will weaken our country, as it has everywhere it was tried. They have put into place things that the majority of Americans do not want and are hurting the county. Things and may, or can not, be turned around for years to come. Trillions of dollars are being added annually to the national debt, a law that will destroy our healthcare system, one that is the envy of the world. A law that Actuaries all over the county are telling us will NOT save money but will add trillions to the cost of healthcare for years to come and weaken our healthcare system. Programs that are deflating the dollar, killing job creation, will result in rampant inflation and high interest rates, more jobs going offshore and weakening our nation defense. Even The Secretary of State is concerned that the deficit spending will effect our ability to defend ourselves against the radical Islamic terrorists around the world, who want to kill Americans all in the name of Allah.
I hope the predictions concerning the next election are correct and we "throw the bums out," on November second and stop the madness.

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Right now, debt is destroying America FAST. Be you socialist or a right winger, dem or rep, should not mater. Debt will simply destroy the American way of life. No time in fiat money history has a government been able to create/print money debt-spend to prosperity. It has been tried by dozens of nations, and not one country has even come close. And it takes 20 years or more AFTER you cease the corruption before it really turns around.
What is being done is treason against the middle class America.
America's best defense against the Islamic fascists is going to come down to the firearms in peoples homes. Islam is living right in your neighborhood. As the path DC is on, government is going to fail at some point.
But I really hope November makes some big changes and some course changes for DC. In 2 years Obama can be sent packing for unemployment. Maybe too long, as I expect things are going to get quite bad in the next 2 years.
On 15/10/2010 8:56 AM, Mike wrote:

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In Alberta, Liberals are like rats, not many of them around.

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Weimar Republic bad. http://en.wikipedia.org/wiki/Weimar_Republic
Canuck57 wrote:

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On 16/10/2010 11:50 AM, Jim_Higgins wrote:

Good read, as if one looks at Obama and the Democrats policy on economics, it is exactly what Weimar Republic did to a tee.
Didn't work for them. Lead up to WW II. Trouble is, WW III is going to be very horrific. But hopefully a few decades off, but one never knows as with the electronic age much happens much faster...

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Really? Apparently you are not aware of the Chrysler turnaround when the federal government, under Reagan, guaranteed the loans given to Chrysler by the UAW Trust Fund and several banks. ALL of which, including the federal government, earned a PROFIT on that turnaround

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