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04-23-2010, 11:27 AM
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Senior Member
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Join Date: Jul 2009
Location: Denver, CO
Posts: 3,075
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Quote:
Originally Posted by piece-itpete
So they don't own 61%?
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I'm not a financial expert and couldn't begin to tell you all the things that will have to happen before GM is completely free from the government intervention. That's a subject for something far more researched than I'm willing to make a post on a web site.
But I believe the answer to your question is "Yes...but". Far as I know, the government became the majority holder in the company as part of the deal going into chapter 11. I don't think anything has changed in that regard. As I understand it, the "new GM" will at some point have to offer an IPO at which time the would hope to secure enough investment to offset the government investment. Wow, I'm not even sure I can say that right. That hasn't happened yet, but it doesn't diminish the fact that they are doing better than anyone expected. You can talk about taking TARP money to pay the bailout money, but fact is, they got it done years before anyone thought they would. It's money- they had the TARP and they had the loan. Now they just have the TARP. What line you account it on doesn't matter. If they didn't have they money they'd still be under both. Now they're only under one.
I don't know if that made any sense at all, or if I understand this at all. But that's what I think I know about it. Feel free to correct me.
__________________
Two days slow. That's what they are.
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04-23-2010, 11:37 AM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Until and unless Wall Street is reformed playing the stock market is a great way for the average Joe to lose his shirt.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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04-23-2010, 12:01 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
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Eddie, I have NO idea. My gut says, Rob, you're right, but all I have is my 401k
It's good to see GM doing better. The new Malibu looks nice, reviews well, and hopefully will offset the Cobalts' bad rep.
The Buick sport-ute looks mighty fine too.
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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04-23-2010, 12:15 PM
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Loyal Opposition
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Join Date: Oct 2009
Location: Johnson County, Kansas
Posts: 14,401
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Quote:
Originally Posted by piece-itpete
Eddie, I have NO idea. My gut says, Rob, you're right, but all I have is my 401k
It's good to see GM doing better. The new Malibu looks nice, reviews well, and hopefully will offset the Cobalts' bad rep.
The Buick sport-ute looks mighty fine too.
Pete
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But none of them can hold a candle to a Lincoln, right.
Regards,
D-Ray
__________________
Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again
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04-23-2010, 12:25 PM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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Quote:
Originally Posted by piece-itpete
Eddie, I have NO idea. My gut says, Rob, you're right, but all I have is my 401k
It's good to see GM doing better. The new Malibu looks nice, reviews well, and hopefully will offset the Cobalts' bad rep.
The Buick sport-ute looks mighty fine too.
Pete
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You and me, both, Pete. 401k is all we've got. So, I keep pumping money into mine and praying that no one, from either government or Wall Street decides they need that money more than I do.
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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04-23-2010, 12:26 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
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Well Leland did leave Cadillac and started Lincoln - he had to keep moving upward
Springs tomorrow, if I'm not around Monday you know why
Next time, I'm signing a note!
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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04-23-2010, 12:28 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
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Quote:
Originally Posted by BlueStreak
You and me, both, Pete. 401k is all we've got. So, I keep pumping money into mine and praying that no one, from either government or Wall Street decides they need that money more than I do.
Dave
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Me too bro, but I get this sinking feeling!
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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04-23-2010, 02:27 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Now that the $CDN is at parity it is like getting a raise.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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04-23-2010, 03:38 PM
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Senior Member
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Join Date: Nov 2009
Location: Sonoma County, CA
Posts: 20,496
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Quote:
Originally Posted by BlueStreak
Oh, I know, "Shoulda let them fail. Should have just let everything fail."
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That's what all those redneck Republican senators with non-union Toyota or Mercedes plants in their states wanted. They even said so.
John
__________________
Smoke me a kipper. I'll be back for breakfast.
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04-23-2010, 03:40 PM
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Senior Member
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Join Date: Nov 2009
Location: Sonoma County, CA
Posts: 20,496
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Quote:
Originally Posted by piece-itpete
Making money on stocks is good for this, but not ss?
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There's no relationship between the two. With GM the risk is borne by the federal government as a whole but with Social Security the risk would be to individual retirees whose income could disappear overnight.
John
__________________
Smoke me a kipper. I'll be back for breakfast.
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