GM may seek 1-for-100 reverse stock split - Page 2

Design1stCode2nd · 05-06-2009, 09:27 AM

This is the super short version of what was given to the SEC by GM:

General Motors has filed papers with the Securities and Exchange Commission detailing plans for financing the new, “good” GM. If/when realized, the scheme will wipe out GM’s current stock holders. The plan would:
* Increase the number of authorized shares to 62 billion
* Reduce the par value to one cent
* Effect a 100:1 reverse split for the existing shareholders (that’s one cent on a dollar)

PQ · 05-06-2009, 09:37 AM

I pulled out of my 237 shares last month. I didn't loke the sound of a 'Good' GM and a 'Bad' GM and the way they were talking about doing it. Too much darkness as far as exactly what they were doing.

Wingnut · 05-06-2009, 09:48 AM

Sold mine about 2 weeks ago. Bought at $4/share....sold at $2/share. At least I didn't loose it all.

Suskam · 05-06-2009, 10:14 AM

Thanks. Just sold all mine - took a bad hit.

bballr4567 · 05-06-2009, 12:41 PM

Such a bad bad bad decision on top of other bad decisions dont make a good plan GM.

05-06-2009, 09:27 AM	#15
Design1stCode2nd Drives: four wheels Join Date: Oct 2007 Location: usa Posts: 585	You may want to sell all your GM stock This is the super short version of what was given to the SEC by GM: General Motors has filed papers with the Securities and Exchange Commission detailing plans for financing the new, “good” GM. If/when realized, the scheme will wipe out GM’s current stock holders. The plan would: * Increase the number of authorized shares to 62 billion * Reduce the par value to one cent * Effect a 100:1 reverse split for the existing shareholders (that’s one cent on a dollar)

05-06-2009, 09:37 AM	#16
PQ Booooosted. Drives: 2010 Supercharged SS Join Date: Apr 2008 Location: Mobile, AL Posts: 36,717 View My Garage	I pulled out of my 237 shares last month. I didn't loke the sound of a 'Good' GM and a 'Bad' GM and the way they were talking about doing it. Too much darkness as far as exactly what they were doing. __________________

05-06-2009, 09:48 AM	#17
Wingnut GOT IT....LOVE IT!!! Drives: 2010 2SS, Silver Ice Join Date: Jan 2009 Location: San Antonio Posts: 193	Sold mine about 2 weeks ago. Bought at $4/share....sold at $2/share. At least I didn't loose it all. __________________ 2SS, Silver Ice......delivered June 10th!

05-06-2009, 10:14 AM	#18
Suskam Drives: '11 Camaro/ '02 Grand Prix Join Date: Oct 2008 Location: Ohio Posts: 636 View My Garage	Thanks. Just sold all mine - took a bad hit. __________________

05-06-2009, 12:41 PM	#19
bballr4567 Drives: 2016 Camaro 1LT M6 Join Date: Aug 2008 Location: Evansville, IN Posts: 1,256	Such a bad bad bad decision on top of other bad decisions dont make a good plan GM.