GM IPO, the real deal

Sorry guys, couldn't help myself.

A Treasury press release described Loop Capital Markets as "an African American-owned full service investment bank and brokerage firm headquartered in Chicago, IL." Records show the firm's employees donated $45,550 to Barack Obama's federal political campaigns and $3,000 to Senator Kerry's campaigns. The firm's CEO, James Reynolds Jr., gave $10,000 to the Democratic National Committee, $15,000 to the Democratic Congressional Campaign Committee, $10,100 to the congressional campaigns of Jesse Jackson Jr., $3,000 to the congressional campaigns of Rahm Emanuel, and $2,300 each to the campaigns of Senators Durbin and Clinton.

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The Treasury press release describes The Williams Capital Group, L.P. as "an African American-owned full service broker-dealer based in New York, NY." Its CEO, Christopher Williams, has given $16,000 to the Democratic Congressional Campaign Committee and $6,300 toward the Obama campaign.
 
Quote from rew:

The government is incredibly competent at squandering tax dollars. So bailing out GM and selling at a big loss sounds exactly like what my government is best at doing.
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LMAO :D
Good way of looking at it, so bullish on the ipo it is then.
 
Some call it the last act of a desperate CEO; other industry analysts label the move "brilliant."

Sources inside General Motors have revealed that days before filing the IPO regiistration GM's CEO Timothy Geithner introduced a plan to start building Chevrolet Fords.

"Just think," he said, "The Chevrolet Mustang convertible. The Escalade F-150 pick-up."

"It's so simple it's beautiful," auto industry analyst Dr Stunata said of the move.

(slow news day...):cool:
 
Bear in mind, I am the last proponent of Government Motors and I certainly don't agree with wiping billions of debt off there books only to resurface a ''new public entity'' 12 months later or so....

But, yes....always a but, Buy GM's IPO. It's the biggest BS in history, but buy it, hold it a couple months and you will make money on this.
Insurance companies will be big buyers in this thing (and loads of other donkey's as well, maybe that's why it's oversubscribed). At near 0% interest rates, Insurance companies need any gamble at which to invest there floats at...they'll find a way to hedge it.

Time will tell if the above comment is correct, basically a long in GM.

Hope to cash out at the top of this piece of shit.
 
Quote from nutmeg:


Imo, the market up on Wed, so I would consider short the market at some point on Wed because I do believe we'll open down on Thursday or spend sometime in the red on Thursday.
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Nutmeg you putz. If anyone wants a refund, send a self addressed stamp:

Nutmeg

North Pole

Ho ho ho
 
•2012 Camaro Z28 gets big push from Chevrolet
•Bing hopes GM rec center gift spurs more aid
•U.S. Treasury receives additional $1.8B from GM’s IPO
•GM makes $4B cash payment to pension
•GM can’t steer off course
•GM, Chrysler to bring 2,000 high-tech jobs to region
•GM’s 2011 Chevy Volt hopes to change game
•More GM stock sold; government stake drops to 33 percent
•Volt gets 93 mpg using just its battery
•Chevy Volt to get up to 93 mpg
•Filing shows GM execs bought big for IPO
•GM recalling pickups over child restraint problems
•U.S. receives $11.7B from GM stock
•Treasury gets $11.7B from GM IPO
•GM to announce $163M investment in Flint, Bay City, Ohio plants
•Saudi investment firm buys $500M stake in GM
•U.S. to ease oversight of GM; Treasury wants no surprises
•Metro Detroit cheers GM revival
•Howes: Second chance doesn’t come easy for GM
•Letters: GM faces further scrutiny
•GM shares fluctuate on second day
•GM has smooth ride in return to Wall Street
•Shanghai Auto buys 1 percent stake in GM
•GM IPO success affects rivals, allies
•Chevy plans green fund
•GM’s Akerson on IPO: A new day dawning
•Celebration marks GM’s return to stock exchange
•Roadblocks remain on GM’s path to recovery
•Editorial: IPO affirms GM’s rebirth
•Obama: Stock offering a step toward success for GM


From The Detroit News: http://detnews.com/article/20101203/AUTO01/12030344/GM-makes-$4B-payment-to-pension#ixzz17BfPRuvr
 
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