Treasury picks adviser for General Motors IPO

Yahoo/AP ^ | May 21, 2010 | Martin Crutsinger

[Need4Truth]

WASHINGTON (AP) -- The Treasury Department has hired Lazard Freres & Co. as its adviser to prepare for an initial public stock offering by General Motors Co.

[Need4Truth]

Agreement signed on Monday but press release was Friday evening (when fewer people are paying attention).

[WackySam]

Can’t wait to short this pig.

[raybbr]

Anyone look familiar on the board of this company??????

Board of Directors

	Kenneth M. Jacobs
	Ashish Bhutani
	Ronald J. Doerfler
	Steven J. Heyer
	Sylvia Jay
	Ellis Jones
	Vernon E. Jordan, Jr.
	Philip Laskawy
	Laurent Mignon
	Gary Parr
	Hal S. Scott
	Michael J. Turner

[rockvillem]

This is just absurd window-dressing to pretend that there is any possibility of an IPO. $6 million for a year, or $3 million if no sale, is absolute chicken feed to the investment bank and will mean they’ll assign a couple of junior people to prepare some impressive looking paperwork that means nothing.

Consider this the Obamatrons spending $6 million of taxpayer dollars to deceive the taxpayers for at least a year that this pig is EVER going to fly.

[hoosier hick]

And I bet investors are just lining up to buy this stock so they can hold it until the next time it’s worthless or the government decides to take it away.....

hh

[SERKIT]

How many FOBSs (Friends of Barry Soetoro) will be involved in insider trading and get away with it?

[YankeeReb]

To pay off its shareholders, including the government, a United Auto Workers union health care trust and its old bondholders, the stock market would have to value GM at more than $70 billion. That would be almost double Fort Motor Co.'s market value of roughly $40 billion, but far less than the total value of Toyota's shares of about $120 billion.

So from this amateur's prospective, there's no way that a share of Gubment Motors is worth more than a share of Ford. Look for this turkey to drop lower than the regime's approval ratings. I'd be short on this one.

[pointsal]

This should be a mandatory purchase by every union pension fund in the country.

[YankeeReb]

How many FOBSs (Friends of Barry Soetoro) will be involved in insider trading and get away with it?

It will be interesting to see who lines up to buy it. I'd look for a big initial surge followed by a huge drop. Classic pump and dump, with the well connected FOBS walking away with a big payoff while the poor suckers who invest their IRA money get screwed AGAIN.

[Need4Truth]

How many FOBSs (Friends of Barry Soetoro) will be involved in insider trading and get away with it?

It's still legal for CONgress critters. The amendment in the so-called financial reform bill that would have changed that was dropped.

[TYVets]

It is going to take a lot of paper to print the certificates for this penny stock.

[Vaduz]

I’ll bet all my buckwhats that Toyota will be first in line to buy the stock.