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Anyone in on the G.M. IPO?

Started by Riversider
almost 16 years ago
Posts: 13573
Member since: Apr 2009
Discussion about
PROSPECTUS HAS LOTS OF GOOD REASONS TO BUY -------------------------------------------------- 1)We have determined that our disclosure controls and procedures and our internal control over financial reporting are currently not effective. The lack of effective internal controls could materially adversely affect our financial condition and ability to carry out our business plan. 2)On a U.S. GAAP basis, the U.S. pension plans were underfunded by $17.1 billion at December 31, 2009 and underfunded by $19.5 billion at July 10, 2009.
Response by gaongaon
almost 16 years ago
Posts: 282
Member since: Feb 2009

What a f'n crock.

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Response by Riversider
almost 16 years ago
Posts: 13573
Member since: Apr 2009

Here's the prediction.
U.S. tax payers fund a job transfer overseas to China,Brazil, Mexico
G.M. eventually goes bankrupt, but maybe not for 10-20 years.
G.M. exports Buicks and Cadillacs from china to the U.S.

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Response by detournement
almost 16 years ago
Posts: 31
Member since: Aug 2009

all in

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Response by searching10
almost 16 years ago
Posts: 25
Member since: Sep 2010

absolutely not. fundamental problems are still there (high cost, slow to market on new models, pension liabilities and unionized labor force). the bail out just extended the time period in which these problems will come to roost, though it did remove some of their short term liabilities through the process. Let's put it this way, if I had a money manager who actually bought this equity in the IPO, I would fire them

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