Anyone buying GM Stock in IPO?

[Loud Pedal]

Originally Posted by FenwickHockey65

Sure, completely ignore the fact that GM's built a new battery assembly facility in Michigan and hired thousands of Americans back to work.

I'm not sure what one has to to with the other.

Thousands? Really?

http://www.gm.com/corporate/news-and...own_081309.jsp

"The plant will provide more than 100 advanced technology jobs and will be part of a wholly owned subsidiary of General Motors called GM Subsystem Manufacturing LLC."

Every American should be outraged that our tax dollars are being used to build plants and create jobs in Mexico.

[Berean]

Originally Posted by LOUDPDL

Every American should be outraged that our tax dollars are being used to build plants and create jobs in Mexico.

[AZCamaroFan]

Did you see the story a couple days ago that contributions from GM are being made to the Congressional Black Caucus, and other congressmen?
Tax money, given to GM, kickbacked to Congress for campaign use.

[Capthowdy]

Originally Posted by Berean

[GoldBowtie]

I can't see the future like some of you experts, but I'm in!

Lost money on old GM stock and I'm getting in line for the IPO sale -- if it's possible to get some new stock.

[1bad65]

Originally Posted by GoldBowtie

Lost money on old GM stock and I'm getting in line for the IPO sale -- if it's possible to get some new stock.

I sure hope you are joking.

[1bad65]

Originally Posted by LOUDPDL

Every American should be outraged that our tax dollars are being used to build plants and create jobs in Mexico.

Yeah, when I saw that story I was outraged. Obama said the reason both GM and Chrysler got bailed out in the first place was to save AMERICAN jobs. And then the company he is in effect running goes and builds a new plant in Mexico. Simply outrageous.

Also, the lithium-ion batteries for the new Volt are being manufactured in South Korea. It appears that these "Green Jobs" he keeps talking about are apparently going to foreigners, not Americans.

http://www.newsvine.com/_news/2009/0...volt-batteries

[HeHasReturned]

Originally Posted by GoldBowtie

I can't see the future like some of you experts, but I'm in!

Lost money on old GM stock and I'm getting in line for the IPO sale -- if it's possible to get some new stock.

What you just wrote doesn't make sense

[GoldBowtie]

GM will be a "money machine" (Ford will be too). Some of that will reflect in the stock price.

[HeHasReturned]

Originally Posted by GoldBowtie

GM will be a "money machine" (Ford will be too). Some of that will reflect in the stock price.

Well, if you think that, that's fine. I was only skeptical about the way you wrote it.
"I lost money in GM, and I'm going to reinvest in it"

[1bad65]

Originally Posted by GoldBowtie

GM will be a "money machine" (Ford will be too). Some of that will reflect in the stock price.

Unless they start putting people on the Board who have actual experience in the auto industry instead of Gov't beaurocrat types, I wouldn't bet on it. Notice how the Postal Service bleeds money, but it's two main competitors FedEx and UPS actually make money.

[jrc1122]

Originally Posted by 1bad65

Unless they start putting people on the Board who have actual experience in the auto industry instead of Gov't beaurocrat types, I wouldn't bet on it. Notice how the Postal Service bleeds money, but it's two main competitors FedEx and UPS actually make money.

You and I would get along great!

[Berean]

Originally Posted by 1bad65

Unless they start putting people on the Board who have actual experience in the auto industry instead of Gov't beaurocrat types, I wouldn't bet on it. Notice how the Postal Service bleeds money, but it's two main competitors FedEx and UPS actually make money.

Bingo.

[DGthe3]

Originally Posted by Berean

You're kidding right? The Treasury Dept appointed 10 members of the board. For those who may be unaware, the Treasury Dept is part of the Federal Government, and the Secretary of the Treasury is a cabinet member of the Obama administration.

You might want to check this out: http://www.nytimes.com/2009/07/24/business/24auto.html

Some excerpts:

"The Treasury has appointed a total of 10 members to the new G.M. board."

"The Obama administration wanted nearly a clean slate of directors to ensure that the company would move away from practices that led to its downfall and last month’s bankruptcy filing."

The Obama administration wanted....... Really? That sounds kind of like they control it.

Please, tell me which ones came from the government. As in, which ones were employed by the government prior to their appointment to GM's board of directors. I keep hearing "they were appointed by the Obama administration" (which, as majority shareholder I believe they are entitled to do) yet I haven't seen anyone that is actually a former government employee that has been placed there to run GM. If the government is running GM, wouldn't they have to have their own employees.... ya know... running GM? Not someone from elsewhere that they deem suitable, their own people. One from the EPA, another from Department of Transportation, and so on. I do not see any such people.

Originally Posted by 1bad65

Unless they start putting people on the Board who have actual experience in the auto industry instead of Gov't beaurocrat types, I wouldn't bet on it. Notice how the Postal Service bleeds money, but it's two main competitors FedEx and UPS actually make money.

Which ones are the government bureaucrats on GM's board of directors? The one from Coca Cola? The Dean of Economics from the University of Western Ontario? The former CEO of AT&T? The co-founder of an investment firm? Please clarify which individuals you are talking about.

And usually, the board of directors for large corporations have a rather broad background. Some obviously will need experience from within the industry, but others are chosen because they have related experience in other fields. For example, someone with medical management experience might be good if your company has an extensive healthcare policy. Investors are popular, as are people who have successfully ran any business for a significant period of time. The diversity reduces the amount of 'group think' that can happen with a room full of insiders because they all have different perspectives and priorities.