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GM to be owned by the U.S.? - Page 2
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Thread: GM to be owned by the U.S.?

  1. #11
    Join Date
    Apr 2009
    Location
    Raleigh NC.
    Posts
    1,385

    Default

    Wow, I can see the head lines now!

    "Gm to be renamed SM"

    "Socialist Moters now producing the "Obamatopia" the latest and finest in rice burning Rickshaws!"

    "Massive tax hikes become law on decedent gas guzzlers!"

    "Government crackdown on all SUV owning dissidents!"

    "SUV runs down, brown uniformed, Eco Officer in Government Impound Lot!
    Mother of five gets life, with no parole!"
    Last edited by Steadfast; 5th May 2009 at 10:29.
    - God's Walky Talky

    "L A N . . A S T A S L E M"
    I will NOT submit to islam!

    "All that is necessary for the triumph of evil is that good men do nothing"
    Edmund Burke 1729-1797

  2. #12
    Join Date
    Apr 2009
    Posts
    459

    Default

    Quote Originally Posted by Steadfast View Post
    Wow, I can see the head lines now!

    "Gm to be renamed SM"

    "Socialist Moters now producing the "Obamatopia" the latest and finest in rice burning Rickshaws!"

    "Massive tax hikes become law on decedent gas guzzlers!"

    "Government crackdown on all SUV owning dissidents!"
    Ooh ooh I can get me the new Chevy Obama complete with 22' rims and hydraulics fully loaded with Malt liquor and chicken.
    "I know where Daddy keeps his Silver Shhhhhh"(I loves my precious hehehe)

  3. #13
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,577

    Default My sense is that this is decption.

    Quote Originally Posted by Ancona View Post
    I just read an article over at Financial times that suggests the new deal on the table involves a majority government stake in the company. They are proposing a debt-for-equity swap.

    So.....we're all automakers now? I always wanted my own car company.

    http://www.ft.com/cms/s/0/a5326d50-3...44feabdc0.html
    GM to be owned by the Federal Reserve is more like it.
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  4. #14
    Join Date
    Mar 2009
    Location
    Canada
    Posts
    63

    Default

    Dont forget your neighbours to the north throwing them lifeline cash also.

  5. #15
    cowboycarl04 is offline Silver Seeker Senior Member Site Admin
    Join Date
    Feb 2009
    Posts
    345

    Default

    Just to update....

    GM restructure plan:

    50% government

    10% bonds

    39% UAW

    1% current shareholders.

    The new plan will have current shareholders wiped out 99%, followed by a reverse 1:100 split of the stock. In reality, the stock's value may not change much, but the share holders will go from $1.68 to $0.0168 instantly.

    I hope you didn't own stock...

  6. #16
    Join Date
    Feb 2009
    Location
    Too Far Out To Get Back
    Posts
    866

    Default

    I'm seriously thinking of buying GM after all the dust settles. Anyone else?
    “Most of our so-called reasoning consists in finding arguments for going on believing as we already do.”
    - James Harvey Robinson

    "The more we convince others, the more we convince ourselves."
    - The Tongue and Quill

  7. #17
    Join Date
    Apr 2009
    Posts
    459

    Default

    Quote Originally Posted by SeekrBrnEvryMin View Post
    I'm seriously thinking of buying GM after all the dust settles. Anyone else?
    Hell yeah jump in after the dust settles and ride that bouncing cat til it dies
    "I know where Daddy keeps his Silver Shhhhhh"(I loves my precious hehehe)

  8. #18
    cowboycarl04 is offline Silver Seeker Senior Member Site Admin
    Join Date
    Feb 2009
    Posts
    345

    Default

    Since Fannie and Freddie died, their stocks have gone up as much as 15x their value if you bought low and sold high.

    AIG has gone up 4x for the same criteria.

    Citigroup is currently 4x higher.

    Makes you think to hop on the bandwagon right after they do this... better yet... wait a week to let it drop a tad more, and then jump on the wagon.

  9. #19
    Join Date
    Jan 2009
    Posts
    134

    Default

    Government and Union running a business is absurd. Neither has ever suceeded in that regard. The cars will have to be $100,000 each to break even. I wouldn't take one for free.

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