Skip to comments.General Motors is Head For Bankruptcy -- Again
Posted on 08/16/2012 3:55:24 PM PDT by Harley
President Obama is proud of his bailout of General Motors. Thats good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market.
Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized
(Excerpt) Read more at forbes.com ...
Should have been “addressed” as part of any bailout. Of course the purpose of the bailout was to shore up the union.
GM is dead.
This is a duplicate post. Sorry. My GM Bankruptcy search didn’t reveal it to me.
They is be head for that?
You know, sources that fail to master English tend not to get too much credibility.
I be sorry dem suckas be head for dat, eberyone up in de gettho be sorry 2wo yo.
Who dey be head fo up in here?
Whaaaaaaaaaaat? Thought the Chevy Volts were going gangbuster in sales. (”
I think the government is going to do the same thing I did with my GM stock a couple of years ago.
And I think it was part of the plan all along. Basically they will be giving the remainder of the company to the union. I believe the corporation still has value such as real estate, patents, and other items that can be salvaged for the benefit of the union and it's sponsors.
We are watching a great american corporation being cannibalized by looters right before our eyes.
When the government was buying GM I put my money in Ford at the same time for $1.76 a share. It sold on an auto sell order during a particularly volatile day at around $12 a share.
Cheer up sir, we'll give it another try!
Isn't this what the libs accused Romney and Bain of doing?
The management, with the Board of Director's approval, was gutting the company and getting the last penny out of any productive capacity, but it wasn't being added to in any meaningful way.
Finally, it was a marketing division ~ for hire ~ by foreign auto makers.
The proper termination would have involved a sale of the assets and a total dissolution of every aspect of the corporation, right down to busting up the concrete in the parking lots for use in road building projects elsewhere.
Bond holders would still have been shorted because there simply wasn't enough to cover the debt.
The next bankruptcy is the end of the road. No more GM. And yet UAW will probably be sued by everybody and his brother over that multibillion dollar payoff they got.
They'll probably lose that too having obtained it under false pretenses.
GM, Solyndra, high speed rail, etc. All of Obama’s spending is to pad pockets. None of the projects are really planned to succeed. He probably wants them to fail. All part of what has to happen to lead to the big “transformation” of America.
He has to destroy the country before he can transform it. Obama and all of his buddies should be swinging from the yardarm.
QC took a nosedive in the early 70’s that’s for sure .
Why give the sucker a choice? Make them buy Voltz!
With the upcoming war in Iran, it actually makes sense! Stockpile inventory, cause there's gonna be a big demand soon!
My family has always driven GM products. My first vehicle was a GMC 4X4 truck.
No More! I helped put Government Motors down - I'm so proud.
I was expecting a Texas Blogpimp Massacre. And here I find ya moonlighting as a 9th grade English teacher.
What is the world coming to?
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