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Thread: GM's return to top continues as it rejoins S&P 500

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    GM's return to top continues as it rejoins S&P 500

    Without the help, first from President Bush, then President Obama GM would likely be gone now.

    General Motors is rejoining the club, the rarified air of the Standard & Poor's 500.

    It's a dose of good news not only for GM's comeback story, but for stockholders who have seen a modest stock price bump from the milestone.

    Standard & Poor's announced that GM, which reigned as the biggest company in the index from 1927 to 1958, will be back in after the close of trading on Thursday. The news is sure to buoy the mood at GM's stockholders' meeting the same day. And it will mark another milestone since GM filed for bankruptcy reorganization in 2009 and, as a result, was kicked out of the S&P 500 slot it had held since the index began in 1925.

    The Detroit-based global automaker will rejoin at 130 among the 500 companies on the list ranked by the value of their shares available for trading, or float. It replaces Heinz, which is out because of its acquisition by Berkshire Hathaway. Financial services provider American International Group, which, like GM, received government assistance to stay in business during the recession, also will rejoin.

    MORE: Treasury to sell 30 million shares of GM stock

    GM shares closed at $34.96 Tuesday, up 1.6%. In the past year, it has ranged from $18.72 to $35.48.

    "The GM team has been working very hard to earn the business of customers around the world and to win the confidence of investors, and rejoining the S&P 500 shows we're very much on track," said GM CEO Dan Akerson in a statement.

    GM's return to top continues as it rejoins S&P 500

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by pbrauer View Post
    Without the help, first from President Bush, then President Obama GM would likely be gone now.

    General Motors is rejoining the club, the rarified air of the Standard & Poor's 500.

    It's a dose of good news not only for GM's comeback story, but for stockholders who have seen a modest stock price bump from the milestone.

    Standard & Poor's announced that GM, which reigned as the biggest company in the index from 1927 to 1958, will be back in after the close of trading on Thursday. The news is sure to buoy the mood at GM's stockholders' meeting the same day. And it will mark another milestone since GM filed for bankruptcy reorganization in 2009 and, as a result, was kicked out of the S&P 500 slot it had held since the index began in 1925.

    The Detroit-based global automaker will rejoin at 130 among the 500 companies on the list ranked by the value of their shares available for trading, or float. It replaces Heinz, which is out because of its acquisition by Berkshire Hathaway. Financial services provider American International Group, which, like GM, received government assistance to stay in business during the recession, also will rejoin.

    MORE: Treasury to sell 30 million shares of GM stock

    GM shares closed at $34.96 Tuesday, up 1.6%. In the past year, it has ranged from $18.72 to $35.48.

    "The GM team has been working very hard to earn the business of customers around the world and to win the confidence of investors, and rejoining the S&P 500 shows we're very much on track," said GM CEO Dan Akerson in a statement.

    GM's return to top continues as it rejoins S&P 500
    Corporate welfare works pretty well, doesn't it?

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    Re: GM's return to top continues as it rejoins S&P 500

    it is a fraud, have the original stock holders been paid back?

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    Re: GM's return to top continues as it rejoins S&P 500

    The GM bailout was a payback to the Unions for their support, plain and simple, it was a poor choice that cost tax payers billions and basically let any Union know, if they're large enough, they can through the threat of strikes and collective bargaining run any American Corporation into the ground and receive a leg up when that corporation can no longer keep it's head above water.

    GM should have been allowed to go through a managed bankruptcy. Forget that their stock has risen in a Stock Market that exclusively held up with low interest rates falsely pushed down with massive printing and monetizing of our own debt. A stock market that's waiting for the first indication of stopping of QE so they unload massive amounts of over priced assets, equities and bonds.

    The GM bailout set a bad example.

    Mark Milke: Bailouts of GM and Chrysler were a bad idea - Opinion - Times Colonist
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

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    Re: GM's return to top continues as it rejoins S&P 500


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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Rocketman View Post
    it is a fraud, have the original stock holders been paid back?
    Hell no. EVERYTHING out of the Obama administration is a fraud or lie. He depends on people like the author of the OP to perpetuate the lies and misinformation as " successes "

    Because of greedy Unions and mismanagement, the bond holders took a bath, Obama called them greedy when all they wanted was their principle.
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Fenton View Post
    Hell no. EVERYTHING out of the Obama administration is a fraud or lie. He depends on people like the author of the OP to perpetuate the lies and misinformation as " successes "

    Because of greedy Unions and mismanagement, the bond holders took a bath, Obama called them greedy when all they wanted was their principle.
    Luckily I saw the writing on the wall and sold my GM about 2 years before the meltdown. I still own some Ford that I bought during the meltdown.

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Rocketman View Post
    Luckily I saw the writing on the wall and sold my GM about 2 years before the meltdown. I still own some Ford that I bought during the meltdown.
    Allot of GM bond owners got burned by Obama. People that invested in GM, that helped them grow and in the end the Union, who caused their bankruptcy wound up getting the spoils.

    I still say GM's heading for the inevitable bankruptcy. Obama's free money just pushed the inevitable down the road a bit.
    The New Democratic Party Slogan :

    " Return to Power By Any Means Necessary "

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Fenton View Post
    Allot of GM bond owners got burned by Obama. People that invested in GM, that helped them grow and in the end the Union, who caused their bankruptcy wound up getting the spoils.

    I still say GM's heading for the inevitable bankruptcy. Obama's free money just pushed the inevitable down the road a bit.
    I agree, trucks are the only thing keeping them above water now

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    Re: GM's return to top continues as it rejoins S&P 500

    Quote Originally Posted by Fenton View Post
    The GM bailout was a payback to the Unions for their support, plain and simple, it was a poor choice that cost tax payers billions and basically let any Union know, if they're large enough, they can through the threat of strikes and collective bargaining run any American Corporation into the ground and receive a leg up when that corporation can no longer keep it's head above water.

    GM should have been allowed to go through a managed bankruptcy. Forget that their stock has risen in a Stock Market that exclusively held up with low interest rates falsely pushed down with massive printing and monetizing of our own debt. A stock market that's waiting for the first indication of stopping of QE so they unload massive amounts of over priced assets, equities and bonds.

    The GM bailout set a bad example.

    Mark Milke: Bailouts of GM and Chrysler were a bad idea - Opinion - Times Colonist
    All the credit markets were closed at the time, it was Uncle Sam or nothing. Today there is approximately 1 million people working because of the bailout of GM and Chrysler. The citizens of Ohio showed their appreciation to President Obama by voting for him. Oh and all those workers are paying their share of FIT.

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