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Keyword: ipo

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  • Chinese Internet Giant Could Win Largest Ever U.S. Initial Stock Offering

    07/16/2014 9:37:41 AM PDT · by PoloSec · 7 replies
    The Free Beacon ^ | July 16 2014 | Daniel Wiser
    A Chinese Internet giant is expected to win approval from the Securities and Exchange Commission (SEC) for potentially the largest ever U.S. initial stock offering despite a myriad of investment and security risks posed by the IPO, critics say. Alibaba Group Holding Ltd., a Chinese company whose online retail sales exceed those of U.S. competitors, such as Amazon or Ebay, currently awaits SEC approval for the stock sale that could raise as much as $20 billion. The SEC has assented to several IPOs of Chinese companies with similar corporate structures since 2000. However, critics of the offering say the potential...
  • I Can't Believe the U.S. Government Wants to Unleash This on the Public

    04/09/2014 7:11:08 AM PDT · by Vigilanteman · 3 replies
    Money Morning ^ | 8 April 2014 | Shah Gilani
    Do you know Ally Financial Inc.? You've no doubt seen their commercials. They used to be all over the tube hawking their high-yielding certificates of deposit. Now they're all over the tube with their "no hidden fees" campaign. . . . But Ally isn't funny. It recently announced that it's launching an initial public offering (IPO) of its stock at a price per share of $25 to $28. The shares will be offered by the U.S. Treasury as part of its planned exit of its investment in Ally during the subprime crisis in 2008. I've heard some analysts say this...
  • Healthcare.gov: A Failed IPO

    11/08/2013 1:47:52 PM PST · by Kaslin · 8 replies
    Townhall.com ^ | November 8, 2013 | Brian and Garrett Fahy
    If Obamacare’s website, www.healthcare.gov, had an initial public offering, as Twitter did this week, how might its stock price be valued after its recent performance? In Colorado, nearly 250,000 people were notified that their health insurance will be cancelled because their plans fail Obamacare's requirements. In Washington State, nearly 200,000 people received similar notices. Coloradoans and Washingtonians may be losing their doctors and health insurance, but at least they have legalized marijuana to dull the pain. Delaware and North Carolina each boast one Obamacare enrollee. Winning. Beyond under-enrollment, the Obamacare-forced cancellations portend tragic consequences. The Wall Street Journal publicized the...
  • TWITTER IPO LIVE: Twitter stock opens up 73 pct

    11/07/2013 8:20:38 AM PST · by C19fan · 5 replies
    AP ^ | November 7, 2013 | Staff
    Twitter's stock debut up 73 above its IPO price, valuing Twitter at more than $31 billion. Twitter's trading debut is the most highly anticipated since Facebook's last year. Twitter will trade under the ticker symbol "TWTR." Twitter priced the initial public offering of stock at $26 per share, valuing the company at more than $18 billion based on its outstanding stock, options and restricted stock that'll be available after the IPO. The pricing means the short messaging service will raise $1.8 billion in the offering, before expenses.
  • SolarCity — Another Obama Scandal

    10/12/2012 1:51:43 PM PDT · by Cincinatus' Wife · 6 replies
    Western Journalism ^ | October 12, 2012 | Jack Inglewood
    SolarCity (SCTY), another “green energy” company and recipient of millions of dollars of taxpayer funds, in under investigation by the Internal Revenue Service (IRS), sources reveal. The company, which recently filed for its initial IPO, has disclosed that it received subpoenas in July from the U.S. Treasury Department. The Treasury Department is investigating whether companies overstated the market value of solar panel arrays they installed when claiming the 30% federal cash grant. The IRS also notified SolarCity that it is auditing two of its investment funds and reviewing the claimed value of solar systems submitted to receive the federal cash...
  • IPO Market Breeds Tech Stock Impostors

    "The only thing we learn from history - is that we never learn from history." This great maxim accurately explains the insanity reflected in some tech stocks and companies masquerading within that genre. It is reminiscent of the late 1990s. Those were the days of $200 billion+ Yahoo and AOL evaluations (before ever turning a profit) and IPOs of some of the most preposterous business plans ever conceived. I'm not referring to Apple's (AAPL) current valuation of $630 billion. I'm referring to companies like..." (continued)
  • Facebook Inc(NASDAQ:FB): Milberg LLP Announces Class Action Lawsuits Filed Against Facebook, Inc.

    05/30/2012 1:21:26 PM PDT · by Red Badger · 16 replies
    http://meshpress.com ^ | 05-30-12 | Staff
    NEW YORK, May 30, 2012 (MeshPress) — Milberg LLP announces that class action lawsuits were filed in the United States District Court for the Southern District of New York on behalf of purchasers of Facebook, Inc. (“Facebook”) FB -2.29% common stock pursuant to the Company’s May 18, 2012 initial public offering (the “IPO”). Actions were also filed in the Northern District of California. The complaints charge Facebook, certain of its officers and directors, and underwriters of the IPO with violations of the Securities Act of 1933. The actions allege that the Registration Statement and Prospectus issued with the IPO were...
  • California's risky bet on Facebook

    05/28/2012 8:24:39 AM PDT · by Mark Landsbaum · 6 replies
    Orange County Register ^ | 5-27-2012 | Mark Landsbaum
    California government may receive a windfall from huge capital-gains taxes on the sale of Facebook stock following the Palo Alto social-networking behemoth's recent initial public offering. Or not. Some were disappointed that the stock opened at $38 only to drop within a few days to $31. A worst-case scenario for Gov. Jerry Brown and his Democratic Party colleagues desperate to shore up the state budget would be if resales of Facebook stock kept declining in value, not only eliminating capital gains, but providing tax deductions for selling shares at less than their purchase price...
  • Sorry, Facebook Investors: It's Mostly Your Fault

    05/25/2012 5:38:22 AM PDT · by SeekAndFind · 12 replies
    Motley Fool ^ | 05/25/2012 | By Morgan House
    Stop me if you've heard this one. Thousands of largely novice investors line up for what's been billed as "the opportunity of a lifetime" to buy a "can't-miss" investment destined for easy gains. Pundits take position and say it's worth buying at "any price." People whisper in anticipation over how much they'll make. Fifty percent? Double their money? More? In the end, the floor drops out and they're left with hefty losses -- totally predictable losses. Furious investors want answers. What went wrong, they ask? The answer is usually complicated, but has a common denominator: You overpaid. Fell for the...
  • Shareholders sue Facebook, NYSE comes calling

    05/23/2012 7:40:34 PM PDT · by TigerLikesRooster · 33 replies
    Rueters ^ | 05/23/12 | Jonathan Stempel and Dan Levine
    Shareholders sue Facebook, NYSE comes calling By Jonathan Stempel and Dan Levine SAN FRANCISCO | Wed May 23, 2012 9:55pm EDT (Reuters) - The fallout from Facebook Inc's messy initial public offering widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek "remedies." The Nasdaq stock exchange also came under further pressure as a source close to the situation told Reuters that NYSE Euronext had opened discussions with Facebook about a potential stock listing there. Nasdaq also faces litigation from angry investors. Facebook's...
  • Senate panel to launch review of Facebook IPO

    05/23/2012 11:32:12 AM PDT · by US Navy Vet · 16 replies
    foxnews.com ^ | May 23, 2012 | AP via Foxnews
    A Senate panel is reviewing Facebook's high-profile stock offering last week amid allegations that the bank handling the IPO may have provided select clients with a negative assessment of the company. A Democratic aide to the Senate Banking Committee says the panel wants to learn more about the initial public offering. The committee seeks briefings with representatives of Facebook, regulatory agencies and others. The aide spoke on condition of anonymity because the committee's planned inquiry hasn't been publicly announced. Regulators are examining whether Morgan Stanley, the lead underwriter for the IPO, selectively informed clients of an analyst's negative view of...
  • Goldman Sachs to Cash Out of Facebook

    05/22/2012 11:59:30 PM PDT · by PieterCasparzen · 11 replies
    NBC BAY AREA ^ | 5/17/2012 | Chris Roberts
    They got in. And now they're cashing in. Goldman Sachs was an early investor in Facebook. And now with the technology company ready to go public, Goldman will be among the first to cash out, according to Bloomberg, ready to dump $1 billion in stock, or about half of the Wall Street investment bank's shares. The bank and its accompanying funds will sell 28.7 million of the 65.9 million shares they own -- more than twice the amount initially planned -- Facebook said yesterday in a filing. Goldman did so in a way that left both American shareholders and regulators...
  • Facebook overvalued at $50 bln: Bloomberg's global poll [IBTIMES story from 1 year ago]

    05/22/2012 11:48:16 PM PDT · by PieterCasparzen · 8 replies
    INTERNATIONAL BUSINESS TIMES ^ | 2/2/2011 | IBTimes Staff Reporter
    Sixty-nine per cent of investors say Facebook is overvalued after Goldman Sachs invested $450 million in a deal that valued the company at $50 billion, according to the quarterly poll of 1,000 Bloomberg customers who are investors, traders or analysts. The Bloomberg poll conducted between January 21 and 24 shows investors disagree with Goldman Sachs' assessment that Facebook is worth more than Web pioneers such as Yahoo!, the biggest web portal, and eBay, owner of the biggest online retail marketplace. Palo Alto, California-based Facebook surpassed Yahoo! in October as the third most-visited website in the world, the report says. "Those...
  • Facebook Slides Amid Roadshow Questions (Morgan Stanley, Goldman, JPMorgan busted...)

    05/22/2012 4:58:37 PM PDT · by jimbo123 · 11 replies
    Wall Street Journal ^ | 5/22/12 | LYNN COWAN And LIZ MOYER
    Analysts for at least two of Facebook Inc.'s lead underwriters revised their financial forecasts for the company while it was holding initial-public-offering roadshow meetings with investors, according to people close to the deal. The revised figures were passed along only to some investors, according to Scott Sweet, an adviser with IPO Boutique who worked with hedge funds and others that were buying into the deal. That angered some who didn't get the updated figures, he said. Morgan Stanley and Goldman Sachs Group Inc. updated their financial projections for the social network after the company added warnings to its IPO prospectus...
  • Of Facebook, Mark Zuckerberg, IPO, Social Media and Weddings

    05/22/2012 1:39:18 PM PDT · by IsraelBeach · 10 replies
    Israel News Agency / Google News ^ | May 21, 2012 | Joel Leyden
    Of Facebook, Mark Zuckerberg, IPO, Social Media and Weddings By Joel Leyden Israel News Agency New York --- May 21, 2012 ... Another historic tech, Internet IPO has taken place. One that made headlines on Friday and continues to leave many wondering if Facebook is really a safe investment? Share prices that started out at 38 dollars have now sunk today to 34 dollars. Is Facebook a good investment? The answer to that question is yes. As many criticize Facebook for lacking real value or service, comparing Facebook to Google that serves the function of finding things, Mark Zuckerberg stays...
  • Morgan Stanley cut Facebook view pre-IPO: report (This info sent only to some major clients?)

    05/22/2012 7:43:06 AM PDT · by AngelesCrestHighway · 5 replies
    MarketWatch ^ | 05/22/12 | Greg Morcroft
    NEW YORK (MarketWatch) -- The consumer Internet analyst at Morgan Stanley /quotes/zigman/182639/quotes/nls/ms MS +3.26% , the lead underwriter for last week's Facebook Inc. /quotes/zigman/9962609/quotes/nls/fb FB -4.64% IPO, trimmed his outlook for the social-networking firm's revenues just days before the deal went live, Reuters reported Tuesday. The report said that the action, which it said was relayed to some of Morgan's major clients during Facebook's pre-IPO road show, came as a surprise to many potential investors so close to the stock's debut. Reuters explained that the cut came after Facebook released an updated prospectus ahead of the share sale that cautioned...
  • Vanity: Facebook Down over 6% at opening - below $32 per share

    05/22/2012 7:15:25 AM PDT · by C19fan · 25 replies
    May 22, 2012 | Me
    Facebook immediately fell below $32 a share at the opening bell. http://www.google.com/finance?q=fb
  • BOMBSHELL: Facebook Bankers Secretly Cut Forecasts For Company In Middle Of IPO Roadshow

    05/22/2012 6:40:24 AM PDT · by SeekAndFind · 12 replies
    Business Insider ^ | 05/22/2012 | Henry Blodget
    And now comes some news about the Facebook IPO that buyers deserve to be outraged about. Reuters Alistair Barr is reporting that Facebook's lead underwriters Morgan Stanley, JP Morgan, and Goldman Sachs, all cut their earnings forecasts for the company in the middle of the IPO roadshow. This by itself is highly unusual (I've never seen it during 20 years in and around the tech IPO business). But, just as important, news of the estimate cut was passed on only to a handful of big investor clients, not everyone else who was considering an investment in Facebook. This is a...
  • BOMBSHELL: Facebook Bankers Secretly Cut Forecasts For Company

    05/22/2012 5:59:24 AM PDT · by tired&retired · 24 replies
    Business Insider ^ | May 22, 2012 | Henry Blodget
    And now comes some news about the Facebook IPO that buyers deserve to be outraged about. Reuters Alistair Barr is reporting that Facebook's lead underwriters, Morgan Stanley, JP Morgan, and Goldman Sachs, all cut their earnings forecasts for the company in the middle of the IPO roadshow. This by itself is highly unusual (I've never seen it during 20 years in and around the tech IPO business). Read more: http://www.businessinsider.com/facebook-bankers-earnings-forecasts-2012-5#ixzz1vbRXNlwU
  • Facebook Shares Fall

    05/21/2012 8:34:23 AM PDT · by WellyP · 53 replies
    CNBC ^ | 21 May 2012 | CNBC Staff
    Facebook shares [FB 33.64 -4.5918 (-12.01%) ] plunged more than 13 percent on Monday, falling below the $38 price of the initial public offering, in the social network's second day of trading as a public company. The stock sank without the full support of the company's underwriters, leaving some investors down nearly 25 percent from where they were Friday afternoon. Facebook's debut was beset by problems, so much so that the Nasdaq said on Monday it was changing its IPO procedures.
  • The $104 billion question: What does Facebook’s value say about ours?

    05/21/2012 6:12:31 AM PDT · by SeekAndFind · 33 replies
    Washington Post ^ | 05/21/2012 | Charles R. Geisst
    In the late 1990s, the craze for initial public offerings was hailed as the dawn of a new age. The Internet was replacing manufacturing. Who needed a factory floor when you could point and click? Facebook’s Friday IPO, which opened with a staggering $104 billion valuation for the company, hasn’t transported us back to the bubble years of the 1990s. But, like that time, today’s Facebook frenzy is about what our society values. When Mark Zuckerberg rang the opening bell on Friday, his company’s $38 share price wasn’t rooted solely in the economics of the social networking giant. What the...
  • Facebook's IPO Sputters

    05/18/2012 5:32:02 PM PDT · by BenLurkin · 32 replies
    WJ ^ | May 18, 2012, 7:52 p.m. ET | SHAYNDI RAICE, RYAN DEZEMBER and JACOB BUNGE
    .Facebook Inc. FB +0.61%took eight years to stage one of the most anticipated initial public offerings ever. The anticlimax came Friday, as Wall Street bankers struggled to prevent the newly minted stock from ending its first day with a loss. The stock had been widely predicted to soar on its first day. Instead, up until the closing moments of the trading session, Facebook's underwriters battled to keep the stock from slipping below its offering price of $38 a share. Such a stumble would have been a significant embarrassment, particularly for a prominent new issue like Facebook, the most heavily traded...
  • Was the Facebook Deal Overhyped? (0.6% Gain)

    05/18/2012 1:18:23 PM PDT · by Red Badger · 51 replies
    CNBC ^ | 05-18-2012 | By: Kate Kelly, Kayla Tausche
    With Facebook shares trading close to their $38 offer price and revelations that retail investors got a larger-than-expected slice of the $18.4 billion IPO, market watchers are questioning whether the social network’s debut was overhyped — not just in the media, but in the investor community. Buy-side anticipation of a huge Day One price pop was high, and yet as of lunch time on Friday, Facebook shares hadn’t crested $45. Experienced bankers say that with a new issue of this size, moving the shares beyond the single-digit percentage range can be tough, and that Morgan Stanley [MS 13.35 -0.11 (-0.82%)...
  • Zynga stock crushed by Facebook IPO

    05/18/2012 9:56:24 AM PDT · by PieterCasparzen · 7 replies
    cnet ^ | 5/18/2012 | Eric Mack
    Right now plenty of folks at Zynga are likely wishing this whole stock market thing was just a big social game. As Facebook debuted on the Nasdaq this morning, the social game maker, which both enjoys and endures a symbiotic relationship with Facebook, saw its own stock fall off a cliff, dropping 13 percent, or $1.10 a share. ...
  • Facebook Opens At $42.05; Slips From There; Now Unchanged

    05/18/2012 9:00:27 AM PDT · by C19fan · 28 replies
    Forbes ^ | May 18, 2012 | Eric Savitz
    Well, the deed is done. Facebook, which priced its IPO at $38 a share, opened for trading this morning at $42.05, 10.7% above the IPO price. Subsequent trades have been lower, and has been slipping from there; the stock is hanging tight at the $38 offering price.
  • Vanity: Is Facebook getting ripped off with IPO?

    05/18/2012 8:13:34 AM PDT · by C19fan · 35 replies
    May 18, 2012 | Me
    I am watching the news before heading off to work and of course all the talk is about Facebook's IPO. Even one of the guys on CNBC was wearing a hoodie. There is all this talk about how tech IPOs have seen a "pop" in price of their new stock on average of 30%-40% on the first day of trading which would place Facebook as worth $50 on day 1 (35% over the IPO price of $38.) Why are Tech IPOs then systematically underpriced? If the Facebook IPO is so oversubscribed then why does Zuckerberg not say to whoever is...
  • Bono's Facebook Stake To Make Him Richest Rocker On Earth

    05/18/2012 7:56:18 AM PDT · by fight_truth_decay · 18 replies
    MTV.COM ^ | May 18 2012 8:21 AM EDT | By Gil Kaufman
    Talk about a "Beautiful Day." Once the smoke clears from Friday's (May 18) Facebook IPO
, U2 singer Bono could be the richest musician on the planet. According to England's NME, the already flush, tech-savvy
 Irish rock icon owns 2.3 percent of the shares of Facebook through his investment group, Elevation Partners. Well before Facebook filed papers to go public, Elevation paid $90 million for the shares in 2009 and after what is expected to be the second-biggest IPO in history, Bono's share could be worth more than $1.5 billion.
  • Oakland-based BrightSource Energy seeks to raise up to $182.5 million in IPO

    03/21/2012 5:25:01 PM PDT · by NormsRevenge · 8 replies · 1+ views
    Mercury News ^ | 3/21/12 | Dana Hull
    Solar thermal technology startup BrightSource Energy hopes to raise $182.5 million in a long-awaited initial public stock offering, according to an amended S-1 filed with the SEC Wednesday. The Oakland-based company plans to issue 6.9 million shares, .. at a price between $21 to $23 per share. .. BrightSource uses mirrors to concentrate the sun and turn turbines that generate electricity. It's most advanced project is the massive Ivanpah Solar Electric Generating System currently under construction on federal land in California's Mojave Desert. When completed next year, Ivanpah will be the largest solar thermal power plant in the world, generating...
  • Facebook IPO Filing: All the Dirt

    01/28/2012 3:23:06 PM PST · by Libloather · 16 replies
    Yahoo ^ | 1/28/12
    Facebook IPO Filing: All the DirtWall St. Cheat Sheet – 4 hours ago The much anticipated initial public offering for Facebook could be filed for as early as Wednesday. But as for the actual date for the IPO, an anonymous source says, “timing is still being discussed.” The article reports that the estimated valuation for the company will be between $75 and $100 billion, raising $10 billion. **SNIP** Mark Zuckerberg founded Facebook in February of 2004. The website claims more than 800 million members and has changed the way the world communicates. According to Dealogic, a $10 billion Facebook offering...
  • Facebook May Hire Robert Gibbs, Former Obama Aide [Facebook largest IPO in history, Goldman Sachs]

    03/28/2011 7:35:21 AM PDT · by fight_truth_decay · 10 replies
    NYT ^ | March 27, 2011 | ANDREW ROSS SORKIN
    Facebook is in talks to hire Robert Gibbs, President Obama’s former White House press secretary, for a senior role in helping to manage the company’s communications, people briefed on the negotiations said. Facebook is seeking out Mr. Gibbs ahead of an initial public offering planned for early 2012, these people said.
  • GM Falls Below IPO Price as Rising Oil Dims Truck Sales Outlook

    02/24/2011 12:30:45 PM PST · by SeekAndFind · 40 replies · 1+ views
    Business Week ^ | 02/24/2011 | Craig Trudell and David Welch
    General Motors Co. fell to the lowest since its initial public offering in November as rising oil prices dimmed the outlook for truck sales after the largest U.S. automaker’s most profitable year since 1999. GM slid $1.89, or 5.5 percent, to $32.70 at 1:21 p.m. in New York Stock Exchange composite trading. The drop marked the first day GM traded at less than its $33 initial offering price in November. Chief Executive Officer Dan Akerson is speeding the development and introduction of new models, including more fuel- efficient cars that may sell better as gas prices rise. GM used larger...
  • Goldman excludes US clients from Facebook offering

    01/17/2011 1:38:22 PM PST · by EBH · 18 replies
    yahoo/afp ^ | 1/17/2011
    Goldman noted that the transaction has received heavy media attention in recent days and said "in light of this intense media coverage, Goldman Sachs has decided to proceed only with the offer to investors outside the US." "Goldman Sachs concluded that the level of media attention might not be consistent with the proper completion of a US private placement under US law," it said. US securities law bars public promotion of private offerings and the Facebook deal has already reportedly attracted the attention of the US Securities and Exchange Commission (SEC). Goldman stressed that the decision to limit the offering...
  • Is GM Using Inventory to Fudge Earnings?

    12/13/2010 9:55:15 AM PST · by jazusamo · 27 replies · 1+ views
    National Legal & Policy Center ^ | December 13, 2010 | Mark Modica
      General Motors recently reported that it has a 93 to 95 day supply of vehicles at dealerships in its latest inventory report. This is well above the industry average of a 67 day supply, as well as exceeding analysts recommended 60 day supply. According to Jim Bunnell, general manager of GM's dealer networks, the reason is because they expect strong demand for vehicles. There is a more likely reason that should be a cause of concern for GM's new shareholders.General Motors records revenue when vehicles are shipped to dealerships. While GM has technically sold these vehicles to the...
  • Is GM Going Public a Success Story? (a horrible payback to the holders of over $100 billion in debt)

    11/23/2010 8:01:00 AM PST · by SeekAndFind · 16 replies
    American Thinker ^ | 11/23/2010 | Frank Ryan
    Last week, GM sold stock in a public offering. At the same time, President Obama announced that the tough decisions made during his administration were beginning to pay off. He also indicated that the "American taxpayers are now positioned to recover more than my administration invested in GM, and that's a good thing." I do not know where to be amazed or appalled. First, contrary to popular administration folklore, GM did not survive bankruptcy. The name did, but that is all that happened. A new company acquired the name and assets of GM and is now the company being called...
  • Don't Pop the Corks for GM Just Yet

    11/20/2010 1:55:17 PM PST · by jazusamo · 26 replies
    National Legal & Policy Center ^ | November 19, 2010 | Mark Modica
    Most news we hear regarding General Motor's IPO this week proclaim the event as a huge success. It would be prudent to consider whether the process leading up to and following the auto industry restructuring should be a template for future restructurings, as Alex Koch (head of Motors Liquidation or "Old GM") has stated. While some may argue the positive aspects of the GM bailout, it is more than just sour grapes or GM hating that contributes to a desire to have a continuing dialogue on the precedent setting procedures that may lead to a subversion of contract law that...
  • GM IPO: Fund Managers Stick With Ford

    11/18/2010 9:34:17 AM PST · by Nachum · 2 replies
    The Street ^ | 11/181/10 | Robert Holmes
    BOSTON--General Motors(GM), which raised at least $20.1 billion in an initial public offering, is to carmaker Ford(F) what financial company Citigroup is to JPMorgan(JPM), some mutual-fund managers say. (Snip) Frank Ingarra, co-portfolio manager at Hennessy Funds, says he finds better opportunities in other automotive stocks rather than trying to buy into something "where the government is only selling a small part of its position." "Whenever the government is involved in something, I get uneasy," Ingarra says. "A lot of the money raised goes back to the government, to the unions, and to all of these other entities."
  • General Motors shares jump on Wall Street return (New IPO looks like a success)

    11/18/2010 7:58:22 AM PST · by SeekAndFind · 42 replies
    Los Angeles Times ^ | 11/18/2010
    General Motors stock began trading on Wall Street again Thursday, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion infusion from taxpayers. The stock rose sharply in its first minutes of buying and selling, going for nearly $36 per share -- nearly $3 more than the price GM set for the initial public offering. The stock traded for less than a dollar when the company filed for bankruptcy last year. On the floor of the New York Stock Exchange, a crowd eight deep jostled around the company's trading post, adorned...
  • GM IPO price increase is good news for taxpayers (Saving Union Jobs and votes, The Obama mission)

    11/16/2010 1:34:29 PM PST · by NormsRevenge · 30 replies
    AP on Yahoo ^ | 11/16/10 | Tom Krisker - ap
    DETROIT – Fueled by strong investor demand, General Motors is setting a higher share price for Thursday's initial public stock offering. The increase boosts the automaker's market value to $50 billion and moves its largest owner, the U.S. government, closer to recouping all the money it spent saving GM from ruin. But even with the increase, GM's value is still short of what the government needs to recoup the whole bailout. During the past two weeks, investor interest in GM has risen as the company's executives flew across the globe making sales pitches to big investors. The company has made...
  • G.M. Offering Price Range Rises to $32 to $33 [IPO]

    11/15/2010 2:47:41 PM PST · by fight_truth_decay · 55 replies · 1+ views
    DealBook NYTimes ^ | 11/15/2010 | MICHAEL J. DE LA MERCED AND NICK BUNKLEY
    4:47 p.m. | Updated General Motors is looking to price shares in its initial public offering to $32 to $33, higher than the previously estimated price range of $26 to $29, people close to the matter tell DealBook. The size of the common stock offering will remain the same, meaning that G.M. could raise more than $11.8 billion at the midpoint of the new price range. The company is also expected to raise the amount of money it expects to raise from selling preferred shares to about $4 billion from $3 billion, one of these people added. The decision to...
  • China's SAIC close to GM IPO stake buy-sources (ChiCom Motors)

    11/11/2010 9:44:04 AM PST · by mojito · 26 replies · 1+ views
    Reuters ^ | 11/11/2010 | Kevin Krolicki
    General Motors Co [GM.UL] is in the final stage of talks to sell equity to long-time Chinese partner SAIC Motor Corp (600104.SS) in conjunction with its landmark initial public offering, two people familiar with the matter said. The two government-funded automakers are currently finalizing how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC's ambitions to move beyond the China market, the sources said. Any agreement between GM and SAIC would need Chinese government approval and could still fall apart, the sources cautioned. One person familiar with the matter said...
  • GM IPO is Wealth Redistribution Scheme

    11/09/2010 3:21:22 PM PST · by jazusamo · 13 replies · 2+ views
    National Legal & Policy Center ^ | November 9, 2010 | Mark Modica
      The term "wealth redistribution" has been used by political pundits on the right who accuse Democrats of having a misguided agenda wherein the wealthiest Americans will be able to subsidize a government spending spree in order to redistribute wealth to the less affluent populace. General Motors, through its reorganization plan, has contrived its own version of wealth redistribution. This action was orchestrated by the Obama Administration as it took control of the GM bankruptcy process. Old GM shareholders and bondholders, along with taxpayers, lose out as new wealth is created for bankruptcy attorneys and advisers, investment banks and...
  • Election Day Prompts Rosy Projections for GM IPO

    11/02/2010 7:56:03 AM PDT · by jazusamo · 11 replies
    National Legal & Policy Center ^ | November 2, 2010 | Mark Modica
    According to unnamed sources, the GM IPO will offer approximately 22% of the company for proceeds of about 10 billion dollars. Shares will be sold at $26 to $29 after a stock split. This puts the company's value at approximately 50 billion dollars, in the same area as Ford's market cap. Arguments can be made whether or not GM is worth more than Ford, but there are other more important facts to ponder. Why did Ed Whitacre recently disclose that the IPO would price between $20 and $25, only to see the media hype a higher figure based on...
  • GM IPO: Buyer Beware

    10/29/2010 8:32:54 AM PDT · by jazusamo · 16 replies
    National Legal & Policy Center ^ | October 29, 2010 | Mark Modica
      General Motors is expected to begin soliciting for its IPO within the next few weeks. Some warning signs are surfacing regarding the risks relating to investing in New GM. These risks will be easily recognized by astute money managers and may require GM (and its owners, the US Treasury) to rely more upon the Mom and Pop investors who are less sophisticated and more susceptible to being taken advantage of.Prior to filing for bankruptcy, General Motors funded its operations by borrowing from small investors. This funding came in the form of "baby bonds" that were traded on security...
  • GM IPO: UAW's Pump and Dump?

    08/19/2010 12:25:47 PM PDT · by jazusamo · 19 replies
    National Legal & Policy Center ^ | August 19, 2010 | Peter Flaherty
      More evidence that the GM IPO is being hurried for political purposes is found in the IPO registration filing yesterday. The company cannot assure the accuracy of its financial information because of weaknesses in its internal controls. How can GM offer and price shares if it cannot even attest to its own financials? The shares being offered for sale will come from the U.S. government and the United Auto Workers (UAW) trust fund, another red flag. If the UAW has such great confidence in the future of the company, why is it selling? Is it to cash in...
  • Would you buy shares in the new GM? (WSJ POLL)

    08/18/2010 9:49:07 AM PDT · by demsux · 68 replies · 1+ views
    Wall Street Journal ^ | 8/18/10 | WSJ
    A Poll for you
  • GM break even pricec $114 a share?

    08/09/2010 8:05:50 AM PDT · by taildragger · 32 replies
    08/09/2010 | taildragger
    Go over the FR Verboten Detroit News and Free Press for the story. Ouch, how is this really going to work...
  • Cerberus' Adventures in the Gun Trade

    08/06/2010 9:27:53 AM PDT · by Erik Latranyi · 14 replies
    Bloomberg Business Week ^ | 5 August 2010 | Paul M. Barrett and Jason Kelly
    Randy Luth was surprised to learn in 2006 that Cerberus Capital Management wanted to buy his St. Cloud (Minn.) business. What would Manhattan financiers known for investing in distressed debt and troubled companies want with DPMS Firearms, a manufacturer of semiautomatic rifles?Cerberus had more than DPMS in its sights. From April 2006 to January 2008 it bought three other firearms companies: Bushmaster, Remington, and Marlin. And it kept adding to its collection. Cerberus now controls 13 brands in a holding company it created, Madison (N.C.)-based Freedom Group. With sales of $848.7 million in 2009, Freedom Group is the largest gun...
  • Tesla shares slump below IPO price as investors bail

    07/07/2010 6:43:14 AM PDT · by dynachrome · 22 replies
    LA Times ^ | 7-6-10 | Tom Petruno
    Investors who bought Tesla Motors Inc.’s initial public stock offering last week thought they had a hot one. They did -- for a day and a half. But it has been all downhill since. Shares of the electric sports car maker plunged for a third straight session Tuesday as investors bailed out, pushing the stock below the IPO price of $17. Palo Alto-based Tesla closed down $3.09, or 16.1%, to $16.11. Despite the high hurdles facing the company’s bid to become commercially successful, the hype surrounding the IPO -- the first for an American carmaker since Ford Motor’s offering in...
  • Check Out All The IPOs That Are Failing

    05/07/2010 6:33:45 AM PDT · by blam · 501+ views
    The Business Insider ^ | 5-7-2010 | Vincent Fernando, CFA
    Check Out All The IPOs That Are Failing Vincent Fernando, CFA May. 7, 2010, 8:47 AM The IPO market fell apart this week, they've been canceling all over. We've counted ten so far: Monday: * Giti Tire -- China's largest tire maker, canceled/postponed MondayTuesday: * Tian Yuan Mining Ltd. -- Chinese iron ore producer, canceled/postponed Tuesday * New Century Shipbuilding -- Chinese shipbuilder, canceled/postponed TuesdayWednesday: * GSW -- Berlin based real estate company, canceled/postponed WednesdayThursday: * Americold Realty Trust -- Real estate investment trust, canceled/postponed Thursday * Swire Pacific -- Hong Kong conglomerate, canceled/postponed Thursday * Smile Brands Group --...
  • China outstrips US as center for IPOs

    12/16/2009 6:49:28 AM PST · by Cheap_Hessian · 6 replies · 322+ views
    Yahoo News (AP) ^ | December 15, 2009 | Jeremiah Marquez
    HONG KONG – China has outstripped the U.S. in the amount of money raised from stock listings, underscoring the region's stronger economy and a resurgence in investment. Companies have raised nearly $52 billion from initial public offerings on exchanges in Hong Kong and mainland China so far this year, according to financial research firm Dealogic. That's about twice as much as the some $26.5 billion in American IPOs. In 2007, the amount of money raised from IPOs in Hong Kong and the mainland also exceeded the U.S. total. Hong Kong alone has drawn more than $27 billion this year, making...