Ultimately the price will rise and the shares will be sold to the public. However soon after that happens Wall St. will realize the government won't bail this out again , especially if Husein's numbers keep tanking. Those who got in late (the retail investor) will again be left holding the bag.
The final thing that nobody's mentioning in all the hype is the original bondholder who got $0.25 on the dollar (and was called greedy by Husein) and the owner of the old shares who rode it down hoping it would turn around, they get bupkus. Please feel free to point out where I'm wrong.
“Any new factories will be built in China , so new jobs will be created, only not in the US.”
Since GM is selling more Buicks in China than here, maybe they should be made there. Then we’d be rid of greedy union line workers earning a middle class living.
The down side to shunning `our’ own investment—if GM doesn’t pay us back then we execute on their plants, equipment and inventory. If that happens, with spending this year of 3.5 trillion and only 2.2 in revenue, well, if we don’t get our deficit under control we’ll be assigning any proceeds and auctioning off federal assets as well to our foreign creditors.
With all respect to Nick Gillespie and his open border liberaltarians—and to Zero-haters (I’m one)—what’s good for GM in 2010 is good for America. Buy American.*