Shocking: GM Going Bankrupt

[marvel]

Not good. Can't wait to hear the excuses.

 

General Motors Is Headed For Bankruptcy -- Again - Forbes

 

Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would need to get about $53.00/share for these to break even on the bailout, but the stock closed at only $20.21/share on Tuesday. This left the government holding $10.1 billion worth of stock, and sitting on an unrealized loss of $16.4 billion.

 

Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share. However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.

[PurplePride92]

Looks like things are way worse than expected. Wow. This is unexpected.

[Henry521]

Looks like things are way worse than expected. Wow. This is unexpected.

 

Really? Have you been this clueless? WAKE UP AMERICA

[Bluto]

Looks like things are way worse than expected. Wow. This is unexpected.

 

The government SUCKS at picking which businesses are too big to fail.

 

This is why I don't trust the government to make decisions like this (no matter who's in charge).

[PurplePride92]

Really? Have you been this clueless? WAKE UP AMERICA

 

Yeah, and Romney is going to fix it all. Are you really that clueless?

[Michael Corleone]

So let me get this straight. The government imposes a tax on us through the GM incentive program and it is still failing. It seems like just days ago that this administration was tooting it's horn about bailing out the auto industry.

[bballfamily]

Yeah, and Romney is going to fix it all. Are you really that clueless?

 

He wants the free market to decide what happens to GM.

[Dlbdonn]

For the other side of the story . Chicken Little's Second GM Bankruptcy: The Gold Medal For Silly Op-Ed Pieces - Forbes .Both articles from Forbes .

[rockmom]

For the other side of the story . Chicken Little's Second GM Bankruptcy: The Gold Medal For Silly Op-Ed Pieces - Forbes .Both articles from Forbes .

 

I guess it's a matter of glass half full, or glass half empty. :lol: I'm a glass half full kinda gal.

[PurplePride92]

So once again depending on which side you lean determines your version of the truth. GM isn't going bankrupt and I can back to sleep. Awesome.

[rockmom]

So once again depending on which side you lean determines your version of the truth. GM isn't going bankrupt and I can back to sleep. Awesome.

 

:lol:

[OlDog75]

Yeah, and Romney is going to fix it all. Are you really that clueless?

 

Uh, and this present Administration has done a stellar job? Get serious.

[Know It All]

How much did the unions receive in concessions from the tax-payer bailout?

[All Tell]

OOOHHH now you've done it. You spoke badly about unions. Get ready to be taken to the woodshed.

 

FWIW after being the proud owner of one GM product or another since 1987 I purchased a KIA in February.

[Dlbdonn]

Seems that some people want GM to fail and will take great personal satisfaction from it .