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What do you think of the Hambrecht idea? - video above.
Jim Cramer on it: News Headlines (http://www.cnbc.com/id/15840232?video=1560029678&play=1 - broken link)
Delusiane, I think the Hambrecht idea and Jim Cramer have this right. From the beginning of the auto saga, I guessed that the fourth branch of government, Goldman Sachs, would make a killing on the stock offering. These alternative distribution ideas for the IPO of government-owned stock is absolutely preferable to giving the big investment banks a big windfall.
However, I still expect the GM IPO to go the conventional way. A favorable IPO price (set too low so the stock pops up immediately) provides the means by which the investment banks can nail a big profit. They no doubt will have the right to buy up to 15% more shares at the low IPO price "to cover over-allotments." This is a smokescreen for a certain profit.
I keep wondering why Government Motors has to have a new CEO just because the CEO spoke up about Government Motors and how embarrassing it is for the people who work for the union owned company. Seems like a couple of days after he said those words wanting to go from Government Motors among the other auto companies back to General Motors. I think that the poor man was ordered either by Geithner or Obama to resign. How in hell can a company with the profits Government Motors showed the last 6 months allow the CEO to resign? I just don't understand it but my misplaced loyalty to Ford that came in the early 90s is back, if I ever buy a newer car.
I'm still waiting for my dividend shares from my original stock ownership in GM as a tax payer. I've l already paid for the stock once and now GM wants me to pay to purchase again? This IPO under any other name is a shell game.
Honestly, I hope you're wrong. In addition to being a shareholder, I used to work for GM and hope to see them thrive, not to mention pay back the taxpayer's money.
However, they have the habit of pouring untold billions of dollars down the PC drain. First it was that foolish EV1 toy back in the early 90s, then hydrogen fuel cells, now the Volt. I'd like to see them focus on conventional powerplants and vehicles and get that right, rather than tinkering with these money pits.
I expect you're right, we'll be seeing a rerun soon enough.
At the height of their value, GM was valued at $59 BILLION. They owe us $50 BILLION. Or should I say their UAW owes us that.
We'll NEVER see a return.
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