GM: Largest IPO or Largest Scam?

Remember the volt is not the newest electric car out of gm, they had the original electric car that failed called the ev1, check it out and read up on it. I posted about it a while back. gm is a joke.
 
motor trend just gave volt car of the year hehe.

i think it's a nice car...they just need to cut the price by half. Who in their right mind will pay 40k+ for that, when you can get a luxury japanese/german midsized sedan for the same.
 
This company was irresponsible with its debt, got bailed out, then went bankrupt. During its bankruptcy, the company shed off a lot of its obligations. I know someone who worked for GM for over 30 years and has been retired with a decent pension and paid healthcare. After the bankruptcy, this person I know now has to pay for his and his wife’s medical out of his own pocket. Now, this company wants an IPO to raise 20 plus billion? Now the company aims to have no debt on balance sheet! Perhaps that should have been their aim all along! I’ll never drive a GM car; drive Ford, they took nothing and screwed over no one.


http://www.cnbc.com/id/40251271
 
This is equivalent to the Netscape IPO in 1995 that rang the bell for the beginning of the internet boom. GM = $100 stock by Memorial Day. :D
 
One of the largest scams in history, financed on the backs of the taxpayer as per usual. This dog has to hit 53 bucks a share for Treasury to breakeven. I'd like to say that GM will hit 5.3 before it ever hits 53, but with the blatant manipulation of our markets...hell, it might hit 153.
 
Quote from zygoting:

I’ll never drive a GM car; drive Ford, they took nothing and screwed over no one.
More...

+1

Some saavy business moves by Ford before shit hit the fan. Ford deserves to be rewarded.
 
The biggest shame in all of this is the previous shareholders who got screwed in the bankruptcy/bailout. They lost a ton of money when their shares plummeted. Now they have to watch as business continues as usual for GM.
 
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