GM IPO, the real deal

fwiw

"For some reason, companies’ IPOs have a tendency to run into some minor scandal. Google’s famously got slapped around by the SEC because its founders gave an interview to Playboy magazine during the “quiet period” ahead of its IPO — when it wasn’t supposed to spill any company details to the public. Hertz dropped Deutsche Bank from its IPO several years ago, also over unauthorized email messages sent by an employee of the bank."
 
Quote from nutmeg:

The books are cooked :cool:
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Until we have been able to test the operating effectiveness of remediated internal controls and ensure the effectiveness of our disclosure controls and procedures, any material weaknesses may materially adversely affect our ability to report accurately our financial condition and results of operations in the future in a timely and reliable manner. In addition, although we continually review and evaluate internal control systems to allow management to report on the sufficiency of our internal controls, we cannot assure you that we will not discover additional weaknesses in our internal control over financial reporting.
 
Quote from Random.Capital:

How does that work when the pension fund is about $20 billion in the hole?
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UAW funds will receive $8 billion from the offerings and newly issued common stock. GM has agreed to pay the UAW an additional $6 billion for its pension fund, payable on the offering -- $4 billion in cash from IPO stock and new preferred stock sales, and $2 billion in newly issued common stock. In addition, the UAW pension fund will receive another $2 billion in cash from a stock sale.

On an ongoing basis, the UAW pension fund receives $500 million per year in interest from GM preferred stock that was issued post-bankruptcy.
 
this is bullshit that retails cant get in on the ipo, after all it's the taxpayers that bailed out the company, shouldnt we get first dibs or a piece of the pie in the ipo stock?

I would buy at $27, gm is turning around its buick and chevy brand, cadillac has always been good. They are also a top brand/sales in china market. GMC is the only blackeye, they should just discontinued that brand and roll the trucks/pickup into chevy.
 
Thats a pretty bold statement: In essence we are not relying on our books so neither should you.

Quote from nutmeg:

Until we have been able to test the operating effectiveness of remediated internal controls and ensure the effectiveness of our disclosure controls and procedures, any material weaknesses may materially adversely affect our ability to report accurately our financial condition and results of operations in the future in a timely and reliable manner. In addition, although we continually review and evaluate internal control systems to allow management to report on the sufficiency of our internal controls, we cannot assure you that we will not discover additional weaknesses in our internal control over financial reporting.
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Quote from newguy05:

this is bullshit that retails cant get in on the ipo, after all it's the taxpayers that bailed out the company, shouldnt we get first dibs or a piece of the pie in the ipo stock?
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They're blaming UBS, how convenient.
 
Enough of this gm ipo hype!!!


Why has everyone forgot that this company used to trade on the big boards just a couple of years ago. It was fucking bailed out, its worthless. I'm so tired of hearing about this lame ipo.
 
Quote from S2007S:

Enough of this gm ipo hype!!!


Why has everyone forgot that this company used to trade on the big boards just a couple of years ago. It was fucking bailed out, its worthless. I'm so tired of hearing about this lame ipo.
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It's going to get worse. :cool:

The business of the US is the production and consumption of the automobile. Fed policy was/is governed by transportation engineers.

We've narrowed the US down to two choices, ya ready?

"What's good for GM is good for the country"

.............................OR

"What's good for GS is good for the country."
 
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