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O/T GM stock

3

37 chief

Well-known Member
I know this is not tractor related, but hear goes. I purchased a few shares of GM stock when it was under a dollar a while back. Now I see GM is around low $30's. Does that mean the GM stock I now own is worth that much. Thanks for any info. Stan
 
You own the old debt ridden GM I forget what the name is called now if anything! Thank the government for that change.
 
Oh yea it"s now called Motors Liquidation Company and it is essentialy worthless. You may be able to take a loss on your taxes but you would have to talk to an accountant about it.
 
That's the "new" stock that's worth 30 some bucks. Yours is worth a little less. Actually, ZERO!

Y'all have a nice day, ya hear?
 

You didn't think the CIC and his carzar was gonna let you make any money on his deal did you?????Hope you didn't buy too many of them so you don't clogg up the toilet.

Dave
 
NO! GM stock before the IPO is totally worthless. It makes you sick doesnt it.?

The GM executives should be dragged behind a truck threw horse manure for ruining the company.

It is funny to see the new GM stock sold off to the original opening price of $33 now. In 2 days. GM didnt offer a dividend on the stock, why buy it then. Screw them. You are better off putting your money in the bank and get 1% interest.
 
Gene, that's not true. GM's Chinese partner bought a little less than one percent of GM. That's no small deal: it cost them half a billion dollars. But it's nowhere near 18 percent.
 
Not worth a penny but they did give the UAW 20% of the New GM. The UAW got a big share of the New GM but the former stock holders, bond holders, and small business creditors got nothing. It only makes sense from a political standpoint. The taxpaying general public got screwed.

I know the argument that they employ a lot of people so we can not let them fail. If that's the answer then let's convert over to communism and then there won't be any failed companies like GM. Every company would fall under the same umbrella and would not have to worry about fiscal responsibility. Big government is the answer it seems.
 
Vern, you hit the nail on the head! The reason China is industrializing so fast is the communist government doles out large amounts of money to companies that need to expand to meet a certain export demand. In the US the company would have to go through miles of red tape first and then wait until the blues and the reds quit squabling over some export quota before it can break the groundwork.

No, I am not sympathetic to China in any way. Their quick fund and build system ignores pollution control and human rights. They also can increase and decrease interest rates and the value of their currency quickly to make the export market move in their favor. I just shows how quickly a dictatorship can move when it doesn't have to obey politically made rules. Jim
 
Owned my last GM product in the late 80"s and wont ever buy one again, ever. These creeps sold junk, and treated my money like it wasn"t worth anything, and now they are doing it to the stockholders, employees, and taxpayers. Not to mention that the thing needed repair every month.

I will buy imports before a GM, and you can call me all the names you want, but it wont change my mind.
 
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