General Motors: Obamacare Wrapped in Solyndra Inside Some Misery

Townhall.com ^ | August 3, 2012 | John Ransom

[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?

[bossmechanic]

Uhmmmm...
The ones that think lightning doesn’t strike twice?

There are 47% hard-core idiots out there that intend to vote Obama. There’s plenty of fodder for more stupid.

[Spktyr]

Well, for starters if they contest it and lose, a whole lot of GM execs and Obama cronies will be going to jail. The SEC does not take kindly to people who are found guilty of this.

[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.

[DAC21]

“So what is the point of the law suit?”

A whole lot of negative publicity for Bambi is enough for me.

[Dixie Yooper]

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

Anyone who believes a word they read in a Paul Krugman column.

[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?

[Roses0508]

Article is short but strong articulation of the facts. Bump to print when I get back to the office.

[randita]

I’m not astute about this, but we might be seeing the scavengers are positioning themselves to make sure they get some shot - any shot - at the shreds of meat that are left on GM’s rotting carcass.

Another too big to fail company that’s sucking the life out of the American taxpayer.

Mitt was right. Good ad material.

[databoss]

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

[databoss]

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

[Kratos]

“Well, for starters if they contest it and lose, a whole lot of GM execs and Obama cronies will be going to jail. The SEC does not take kindly to people who are found guilty of this.”

Now there you go again, thinking in the old school! Obama owns the SEC, with lock, stock, and barrel!

There are no more laws that Obama did not write. So the SEC will say and do nothing.

[fatboy]

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

[stephenjohnbanker]

” 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”

Bernie Madoff got life without parole for doing something like this: )