To: Fred
Curious, but if GM files chapter 11 what happens to their stock? Does it get wiped out and they effectively do another IPO? Does it survive?
14 posted on
11/20/2008 9:24:28 AM PST by
Centurion2000
(To protect and defend ... against all enemies, foreign and domestic .... by any means necessary.)
To: Centurion2000
Their stock becomes worthless. Folks that are owed money will come before the stockholders in bankruptcy.
To: Centurion2000
Equity holders become unsecured creditors to the courts. Very unlikely a shareholder will get anything.
This is why the stock is tanking.
21 posted on
11/20/2008 10:36:36 AM PST by
Fred
(The Democrat Party is the Nadir of Nihilism and BO is a WHINING marxist)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson