[Venturer]

As a stock marlet idiot I need to ask a question.

What idiot would buy GM stock after the hosing that the GM stockholders took when Obama wrote them off last time.

[Venturer]

As a stock market dummy I need to ask a question.

What idiot would buy GM stock after the hosing that the GM stockholders took when Obama wrote them off last time.

[bert]

So what is the point of the law suit? What does it expect to gain from a failing company lacking resources to pay off a judgement? What if the judge rules in their favor and allows the judgement payment in GM stock?

[SunTzuWu]

Bookmark.

[sickoflibs]

RE :”A statement issued by the law firm representing the class “alleges that the defendants misrepresented and/or failed to disclose that: (1) GM was predicting revenue based on production rather than actual sales; (2) the Company falsely assured investors that it was actively managing its production by monitoring its dealer inventory levels; and (3) the Company assured investors that its inventory management would improve in 2011, which would improve average transaction price.”
GM stock has been in trouble since it was issued, drifting downward from $33 in November of 2010 to a close of near $19 today. The company currently has a market capitalization of around $29 billion after offering about $22 billion in stock to the public a year and a half ago.
In addition, the company also received $52 billion from the U.S. Treasury, $9.5 billion from the Canadians and $12 billion in tax losses carried forward from the pre-bankruptcy days- which for the rest of us regular Joes would be illegal. Oh, then there was that little issue of not paying taxes on the loan that Obama decided to turn into a gift- which again would be illegal for the rest of us.
Just to break even on the part of the money that the U.S. government didn’t make an outright gift, the stock price would have to hit about $51. “

So what's $60B or so among friends? Its just gubment money. The important thing is they now worship Obama the great provider.

[taildragger]

Glanced at the lawsuit quickly, and I need to either review "Blue Sky Laws" and or Sarbanes Oxley. My guess is the law firm is using one or both as a basis of violation of the law to go forward.

It be interesting if it is Sarb-Ox, finally that millstone would bear some fruit, if not it is time to get rid of it too.

Tangent to this I spoke with my auto gnome.

They noted GM's profit per / vehicle in the US is no where near their competitior(s) that have their act(s) together.

And Opel? Even my gnome couldn't rap their arms around GM's Euro mess.....

[Gritty]

It takes a real effort to lose $71 Billion - much of it taxpayer dollars. That's right up in the lofty category of losses from waste and fraud in Medicaid, Medicare, and Food Stamps.

Who says Uncle Sam doesn't work hard for us?

[databoss]

New campaign slogan for Romney ...”GM, Obama didn’t fix that!”

[databoss]

New campaign slogan for Romney ...”GM, Obama didn’t fix that!”

[fatboy]

Baseball
Hot Dogs
Apple Pie
and
Chick-fil-A!