Posted on 11/18/2010 11:35:02 AM PST by Nachum
nvestors should steer clear of GM's IPO due to auditing problems, says Francine McKenna, re: The Auditors
(Excerpt) Read more at thestreet.com ...
No small investors.
all public unions investing for their pensioners?
The list, ping
Let me know if you would like to be on or off the ping list
They cannot vouch for the financials because the IPO said the records and internal controls were shaky.
I plan to short it.
Color me shocked.
And not to mention this is just another Obama head-fake. The government will still be a significant “owner”. I just bought a Ford product a few weeks ago. I will not buy a car from a company owned by the politburo.
Can you short it today or the day after IPO?
I’m going to wait a week or 2, as I expect the big boys will prop it up, if it falls . Then a long short ;-)
I’m with you ... but I will wait until they cook the books for a couple of quarters ... I will short in June when GM is sitting at $60.
Gm still has $24 billion in unfunded liabilities and growing.
I don’t think any of the proceeds of the IPO even go the company, please correct me if I am wrong.
I may do the same. I need to track it. If the SOB keeps climbing, I’ll sit it out.
Chances that the taxpayers, like the former GM Bondholders, will get stuck , again ?
Chances that 0, his campaign donors, Soros, the unions, and fellow travelers get taken care of ?
The Chicago way
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.