TomServo92 Posted July 16, 2009 Share Posted July 16, 2009 (edited) Link The short version: old General Motors is worthless, new General Motors is... well, less worthless. The Securities and Exchange Commission has already warned us that Motors Liquidation Company, the new name for the leftover scraps of GM, is not expected to return any value to stockholders. Despite this, the stock still has a fractional dollar value assigned to it, and some investors are still trading it. Yesterday, shares dipped 52%, closing at 55 cents. Are you kidding me? People are actually trading "bad GM" stock? I guess those are the same people that send money to that Ethiopian prince.... Edited July 16, 2009 by TomServo92 Quote Link to comment Share on other sites More sharing options...
ANTAUS Posted July 17, 2009 Share Posted July 17, 2009 The big picture is that their industry, is tainted. Meaning, in the future they will have a hard time getting any loans or do business with suppliers as they once did. Lets think about it, your a supplier, owed millions and suddenly, "hmm no, doesn't count, lets do a do-over"...If you were that supplier, will you do any business again with anything remaining of this company? If I were a bank, I surely wouldnt let any car manufacturer at this time any money. They might be restructuring and out of bankruptcy, but the cancer, is still in the traveling in the system... The cancer was NOT removed. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted July 17, 2009 Share Posted July 17, 2009 People are actually trading "bad GM" stock? Remember that Seinfeld episode where Kramer and that Texan were betting on arrivals and departures? These people are those people in real life Quote Link to comment Share on other sites More sharing options...
TomServo92 Posted July 17, 2009 Author Share Posted July 17, 2009 Remember that Seinfeld episode where Kramer and that Texan were betting on arrivals and departures? These people are those people in real life Financial Darwinism Quote Link to comment Share on other sites More sharing options...
twintornados Posted July 18, 2009 Share Posted July 18, 2009 "Motors Liquidation Company" vs the "New GM" which one was the "bad" one again?? I keep forgetting :hysterical: Quote Link to comment Share on other sites More sharing options...
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