Citizens, rejoice!
Your Glorious Red Banner People's Automotive Manufacturing Collective No.1 is scheduled to file the terms of its IPO tomorrow, which (wholly coincidentally) just happens to be Election Tuesday!
Rejoice at the end of the Great Recession and the beginning of the Great Recovery!
Do not let defeatists question the legitimacy of the term "Initial" for this stock offering! Pay no attention to the century-old zombie to whose nipples those jumper cables are clamped!
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15 comments:
So, where do I buy my Trabant?
It's called the "Volt", now. ;)
Also ignore amy notion that 80% of your investment will be confiscated later for redistribution to the UAW.
@John A - Later?
Consider this, it would take selling about 1,000,000,000 shares at $70 each to pay back the good nanny state for its "investment". That may be somewhat hard to do since the last time Government Motors had stock there were about the same number of shares, but they were going for about $1. And of course the people that held the SECURED bonds LOST ALL THEIR MONEY!
So, how many shares would you like?
At the time Obama glommed onto GM, there were 601 million shares of common stock. Based on the percentage "owned" by the "public" and the amount of tax dollars stuck into the deal, the break-even would be somewhere above $80 per share.
Based on the money the Canadian government was suckered into investing and its percentage ownership, they'll break even at $108 per share. Rotsaruck, eh?
Great! I'm gonna load up on this new IPO, just as soon as I cash in all my shares in British Leyland.
Meanwhile, the shell of what was old GM before the Obomination looted any remaining salvage value is still trading at twenty six cents a share on the pink sheets.
http://www.google.com/finance?q=MTLQQ
If they're going to loot my IRA by forcing me to by T-bills at some point for sure, wouldn't it be fun to put the whole bankroll into old GM and hope there's enough useful idiots to pump the stock above $0.75/share next Tuesday?
There is another that is as old and posted record profits without becoming the glorious peoples collective. We will see how long that lasts at the next UAW contract negotiations.
http://en.wikipedia.org/wiki/Ford_Motor_Company
WV: edsbac "Are you sure about that name for a car? edsbac? How about Edsel? Sounds much better!
Ya kind of squicked me out at the thought of zombie nipples.
Just sayin'
Wonder how many Chinese Billionaires will be buying, just because it's an IPO?
Havent we already- erm- participated in the IPO?
But then, governments are SELLING, often an indicator of market bottom.
Well, dammit to hell, my broker (heh) already sunk every effin' "red" cent into "Glorious People's Red Banner Automotive Plant #5"!
I just cannot keep up with all this hope n' change...
AT
Who beside a fool would invest in a company given to the union by the government AFTER said government screwed the original owners of record?
Which leads me to suspect that the new buyer will be the FED; why not it has already moniterized the bond market, and is supected by many to have been "influencing" the stock market for some time now.
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