David Hawkins Posted November 16, 2010 Report Share Posted November 16, 2010 WOW, they are pumping up the Stock before releasing it, claiming $50Billion but not enough to pay back the Government???? Just how much did the Government give them? http://news.yahoo.com/s/ap/20101116/ap_on_bi_ge/us_gm_ipo Link to comment Share on other sites More sharing options...
MY500SS Posted November 16, 2010 Report Share Posted November 16, 2010 This IPO of $32 or $33 should push Ford higher. Link to comment Share on other sites More sharing options...
BIKEBOY Posted November 16, 2010 Report Share Posted November 16, 2010 WOW, they are pumping up the Stock before releasing it, claiming $50Billion but not enough to pay back the Government???? Just how much did the Government give them? http://news.yahoo.com/s/ap/20101116/ap_on_bi_ge/us_gm_ipo Sorry...top secret! :happy feet: Link to comment Share on other sites More sharing options...
David Hawkins Posted November 16, 2010 Author Report Share Posted November 16, 2010 Sorry...top secret! :happy feet: Yeah, it must be.................................... BUT, why didn't the Government do the same with Chrysler? Link to comment Share on other sites More sharing options...
BIKEBOY Posted November 16, 2010 Report Share Posted November 16, 2010 Yeah, it must be.................................... BUT, why didn't the Government do the same with Chrysler? Oh c'mon Tes.............'C'overnment Motors.....just doesn't have the same ring!!! Link to comment Share on other sites More sharing options...
springer Posted November 16, 2010 Report Share Posted November 16, 2010 $65,000,000,000 - 65 billion I believe is the correct answer. Link to comment Share on other sites More sharing options...
David Hawkins Posted November 16, 2010 Author Report Share Posted November 16, 2010 $65,000,000,000 - 65 billion I believe is the correct answer. WHAT .....................Somebody Shoot that SOB. Link to comment Share on other sites More sharing options...
twobjshelbys Posted November 16, 2010 Report Share Posted November 16, 2010 RUN, do not walk, from the IPO. The initial day will be heavily traded. Some stocks have had a volume that exceeds the total available shares (meaning, shares changed hands more than once during the trading session). I expect that to happen. Unless you're a day trader don't get close. And your piddly little shares don't count in the trades where millions will move in one trade. If you're looking at it as a long term investment wait for it to reach a real market value. That can be as little as 2-3 days or several months. No matter what, the shares will drop after the IPO. I'd be willing to bet a 6-pack of Budweiser on it. Link to comment Share on other sites More sharing options...
BIKEBOY Posted November 16, 2010 Report Share Posted November 16, 2010 RUN, do not walk, from the IPO. The initial day will be heavily traded. Some stocks have had a volume that exceeds the total available shares (meaning, shares changed hands more than once during the trading session). I expect that to happen. Unless you're a day trader don't get close. And your piddly little shares don't count in the trades where millions will move in one trade. If you're looking at it as a long term investment wait for it to reach a real market value. That can be as little as 2-3 days or several months. No matter what, the shares will drop after the IPO. I'd be willing to bet a 6-pack of Budweiser on it. Make it a sixer of Corona, and you'll have some takers!!! Link to comment Share on other sites More sharing options...
MY500SS Posted November 17, 2010 Report Share Posted November 17, 2010 RUN, do not walk, from the IPO. The initial day will be heavily traded. Some stocks have had a volume that exceeds the total available shares (meaning, shares changed hands more than once during the trading session). I expect that to happen. Unless you're a day trader don't get close. And your piddly little shares don't count in the trades where millions will move in one trade. If you're looking at it as a long term investment wait for it to reach a real market value. That can be as little as 2-3 days or several months. No matter what, the shares will drop after the IPO. I'd be willing to bet a 6-pack of Budweiser on it. Good call Tony. I'm of the same opinion. Link to comment Share on other sites More sharing options...
FordFan1 Posted November 17, 2010 Report Share Posted November 17, 2010 China is behind it all- makes you wonder what's going to happen next http://www.washingtonpost.com/wp-dyn/content/article/2010/11/13/AR2010111303784.html?wprss=rss_print/asection =-=-=-=-=-=-=-=-=-=-- Link to comment Share on other sites More sharing options...
David Hawkins Posted November 17, 2010 Author Report Share Posted November 17, 2010 China is behind it all- makes you wonder what's going to happen next http://www.washingtonpost.com/wp-dyn/content/article/2010/11/13/AR2010111303784.html?wprss=rss_print/asection =-=-=-=-=-=-=-=-=-=-- I was thinking the same thing........................... Link to comment Share on other sites More sharing options...
BIKEBOY Posted November 17, 2010 Report Share Posted November 17, 2010 Maybe China is just like a big Pawn Shop... We can buy all of our sh!t back after we get someone in charge that can right the ship. ??????????????? Link to comment Share on other sites More sharing options...
Vintage Racer Posted November 17, 2010 Report Share Posted November 17, 2010 GM was given $49.5 billion by the government. GM has have already paid back $9.5B. GM hopes to sell 365 million shares tomorrow which will lower their ownership from 61% to 35%. There will be tremendous pressure on the stock as the government unloads those additional shares in the future. The UAW and the Canadian government will also be selling. RUN, do not walk, from the IPO. The initial day will be heavily traded. I agree. I wouldn't buy one share. Link to comment Share on other sites More sharing options...
twobjshelbys Posted November 17, 2010 Report Share Posted November 17, 2010 GM was given $49.5 billion by the government. GM has have already paid back $9.5B. GM hopes to sell 365 million shares tomorrow which will lower their ownership from 61% to 35%. There will be tremendous pressure on the stock as the government unloads those additional shares in the future. The UAW and the Canadian government will also be selling. I agree. I wouldn't buy one share. Well, I might buy one to have a framed certificate. Pity is it'd probably have a Cr**maro on it. Maybe if it was a '57 Belair. Link to comment Share on other sites More sharing options...
1badsho Posted November 17, 2010 Report Share Posted November 17, 2010 Goverment Motors ? who cares................ Link to comment Share on other sites More sharing options...
Vintage Racer Posted November 17, 2010 Report Share Posted November 17, 2010 Well, I might buy one to have a framed certificate. Pity is it'd probably have a Cr**maro on it. Maybe if it was a '57 Belair. I have some of the old stock certificates from the old GM. My wife's granddad gave her shares many years ago. I managed to convince her to sell most of them at $50-$60 back around 2003 when GM was doing well. She insisted on keeping some shares due to emotional reasons. They are worth more now as a collector item after GM was forced in bankruptcy. Equity stockholders, preferred stockholders, many secured bondholders, and all unsecured bondholders were wiped out of billions of dollars by the quick government-forced bankruptcy. I doubt they'll be getting back in. Link to comment Share on other sites More sharing options...
ilmor Posted November 17, 2010 Report Share Posted November 17, 2010 It will be offered at $33/share. Crazy!! But as my wife reminds me, it's "worth" is whatever people are willing to pay. So, I guess will soon find out what it's "worth". Link to comment Share on other sites More sharing options...
David Hawkins Posted November 17, 2010 Author Report Share Posted November 17, 2010 GM will increase the number of Common Shares by 31% for Tomorrows offering........................ http://news.yahoo.com/s/ap/us_gm_ipo Link to comment Share on other sites More sharing options...
BIKEBOY Posted November 17, 2010 Report Share Posted November 17, 2010 China is behind it all- makes you wonder what's going to happen next http://www.washingtonpost.com/wp-dyn/content/article/2010/11/13/AR2010111303784.html?wprss=rss_print/asection =-=-=-=-=-=-=-=-=-=-- So, ilmor and Tes, and you other financial type guys...try to help me understand this turn of events. By purchasing Government Motors stock, does that mean in some sort of twisted way, that you will now have stock indirectly in those Chinese banks??? I'm actually being serious when I ask. Chris Link to comment Share on other sites More sharing options...
David Hawkins Posted November 17, 2010 Author Report Share Posted November 17, 2010 So, ilmor and Tes, and you other financial type guys...try to help me understand this turn of events. By purchasing Government Motors stock, does that mean in some sort of twisted way, that you will now have stock indirectly in those Chinese banks??? I'm actually being serious when I ask. Chris WELL............I am hoping and PRAYING that the Money goes towards the Dept. BUT, I will bet Dollars to Donuts that it WON'T.... Link to comment Share on other sites More sharing options...
ilmor Posted November 17, 2010 Report Share Posted November 17, 2010 So, ilmor and Tes, and you other financial type guys...try to help me understand this turn of events. By purchasing Government Motors stock, does that mean in some sort of twisted way, that you will now have stock indirectly in those Chinese banks??? I'm actually being serious when I ask. Chris Chris, these things get so convoluted and complicated that I doubt there's any way of knowing, and for every one story someone else will have a different one...however...the Chinese are a major financial player and it would be highly likely that they have involvement in here somewhere to a large extent. Another interesting little tidbit I read today. The Financial Times calculates that GM shares will sell for 11.5 times 2010 earnings. That compares to 8.1 times for Ford. One financial writer I follow suggests that, if one is betting on auto stocks, it would be a much better investment to buy auto industry supplier Johnson Controls (JCI) at $33, if it comes down to that price, than to buy GM at $33, for several reasons. Link to comment Share on other sites More sharing options...
BIKEBOY Posted November 17, 2010 Report Share Posted November 17, 2010 Thanks guys...I notice the two of ya's usually keep us up to date on all the financial news! Link to comment Share on other sites More sharing options...
David Hawkins Posted November 18, 2010 Author Report Share Posted November 18, 2010 Thanks guys...I notice the two of ya's usually keep us up to date on all the financial news! Well....I can only DREAM about making Money.....................................As Broke as I am, thats all I can do.......... Link to comment Share on other sites More sharing options...
svtkeith Posted November 18, 2010 Report Share Posted November 18, 2010 Well....I can only DREAM about making Money.....................................As Broke as I am, thats all I can do.......... Some of the best people are broke Tes...Most of the rich are freaking thieves. Link to comment Share on other sites More sharing options...
David Hawkins Posted November 18, 2010 Author Report Share Posted November 18, 2010 OK, Today is the Big Day for GM. They are going to sell Shares of Common Stock for $32.00 each BUT, they will offer 100M Shares of Prefered Stock for $50.00 each....... What is the difference?? http://www.comcast.net/articles/news-general/20101116/US.GM.IPO/ Link to comment Share on other sites More sharing options...
twobjshelbys Posted November 18, 2010 Report Share Posted November 18, 2010 Preferred stock have a position in the food chain of bankruptcy. In the hierarchy bonds are higher than preferred shares, which are higher than common. They generally also pay dividends. Oh yeah, that mattered a lot. Link to comment Share on other sites More sharing options...
BIKEBOY Posted November 18, 2010 Report Share Posted November 18, 2010 My wife and I have a financial guy still in AZ. He has ALWAYS told me to steer clear from ANY automotive stock, as they are dangerous. He knows me well, and knows that I am a car guy. So for many years in the early days, I always wanted to buy Ford or GM, I'm talking long before the bankruptcy crap. He wouldn't let me. Then the meltdown came, and he told me so! My question today is, still the same thought process??? I wouldn't buy GM personally, just because I wouldn't want to support them through the government...but I would love to buy some FORD, seeing the great things they and Mulally are doing right now! Hmmmmmmmmmmm... Link to comment Share on other sites More sharing options...
ilmor Posted November 18, 2010 Report Share Posted November 18, 2010 It all depends on when you buy and sell. Today Ford shares dropped 2% so I bought. Link to comment Share on other sites More sharing options...
ilmor Posted November 19, 2010 Report Share Posted November 19, 2010 An interesting excerpt from an article I read this morning... Controls 'Not Effective' In an August filing, GM laid out how it has performed since emerging from bankruptcy. The company earned $2.2 billion in the first half of this year—and $4.2 billion if you add in the third quarter. That translates into a profit margin of 4.25% on $98.8 billion in revenue through the first three quarters of 2010. Ford Motor Co. is nearly twice as profitable. GM also noted that it wasn't finished with restructuring. In August, the company was culling 700 U.S. dealers from its sales network. The company warned that the move could further erode its market share in the U.S. which stood at 19.3% through October, down from 21% during the same period a year earlier, according to motorintelligence.com. Contrast that with Ford, which increased market share to 16.6% from 15.8% during the same period. Then, of course, there are all those looming costs. GM warned that it may have to make "significant contributions" to its U.S. defined-pension fund. As of the August filing, the fund was underfunded by $17 billion. Ford says its pension funds are underfunded by about $15 billion. Last but not least is the issue of GM's internal financial controls. Deep in the fine print of its prospectus was this: "We have determined that our disclosure controls and procedures and our internal control over financial reporting are currently not effective. The lack of effective internal controls could materially adversely affect our financial condition and ability to carry out our business plan." GM shares rose in their first day of trading but are they a good long-term investment? David Weidner explains to Simon Constbale his view on the subject. In other words, GM essentially said all the numbers used to tout the company's success are to be taken with a grain of salt—and that is putting it lightly. It could be a red flag or a promise of red ink. Who knows? Link to comment Share on other sites More sharing options...
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