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Thread: Taxpayers likely to face initial loss on GM IPO-sources

  1. #11
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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by TacticalEvilDan View Post
    Because the government is beginning to sell what it bought when it bailed GM out.

    In other words, the government is doing the opposite of what the pundits swore up and down it would do.
    Ok, makes sense. But how much of the controlling shares is the government selling?


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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by j-mac View Post
    Ok, makes sense. But how much of the controlling shares is the government selling?


    j-mac
    It looks like the government will be trying to sell about 1/3 of its holding in GM
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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by TacticalEvilDan View Post
    Because the government is beginning to sell what it bought when it bailed GM out.

    In other words, the government is doing the opposite of what the pundits swore up and down it would do.
    Ok, makes sense. But how much of the controlling shares is the government selling?

    Not only would unloading the stock give Obama a windfall to tout to voters vis-a-vis repaying the bailout money, but it’d reassure the public that he meant it when he famously said long ago, “I don’t want to run auto companies.” (It’d also get him free and clear of a certain electric lemon that shall remain nameless.) If you want to rebut the talking point that you’re a socialist, there are worse ways to do it than by putting ownership of America’s largest auto manufacturer back into public circulation. And yet … no commitment yet by the Treasury Department to sell any of its shares. Why not?

    Hot Air » G.M. CEO to feds: We’re tired of being “Government Motors” so how about selling your shares?
    j-mac
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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by Lord Tammerlain View Post
    It looks like the government will be trying to sell about 1/3 of its holding in GM


    Which makes sense, seeing as how if the government tried to dump it all at once, everyone would assume the government knows something they don't and the stock wouldn't sell.
    I'm already gearing up for Finger Vote 2014.

    Just for reference, means my post was a giant steaming pile of sarcasm.

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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by Lord Tammerlain View Post
    It looks like the government will be trying to sell about 1/3 of its holding in GM

    Hey LT, what's up?

    Where are you hearing this? Last I heard the Treasury hadn't committed to selling any of its shares, and if they did it would only be about 5%.....


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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Volt Fraud At Government Motors - Investors.com

    Government Motors' all-electric car isn't all-electric and doesn't get near the touted hundreds of miles per gallon. Advertised as an all-electric car that could drive 50 miles on its lithium battery, GM addressed concerns about where you plug the thing in by adding a small gasoline engine to help maintain the charge on the battery as it starts to run down. It was still an electric car, we were told, and not a hybrid on steroids.

    That's not quite true. The gasoline engine has been found to be more than a range-extender for the battery. Volt engineers are now admitting that at speeds near or above 70 mph, the Volt's gasoline engine will directly drive the front wheels along with the electric motors. So it's not an all-electric car, but rather a pricey $41,000 hybrid that requires a taxpayer-funded $7,500 subsidy to get car shoppers to look at it.

    We heard GM's CEO Fritz Henderson claim the Volt would get 230 miles per gallon in city conditions. Popular Mechanics found the Volt to get about 37.5 mpg in city driving, and Motor Trend reports: "Without any plugging in, the Volt should return fuel economy in the high 30s to low 40s." Car and Driver reported that "getting on the nearest highway and commuting with the 80-mph flow of traffic yielded 26 miles; a fairly spirited backroad loop netted 31; and a carefully modulated cruise below 60 mph pushed the figure into the upper 30s."
    BUY!

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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by j-mac View Post
    Oh yes liberals, keep touting how well GM is doing thanks to Obama....a loss on opening IPO....Bailout open for years....Yeah, very good.....


    j-mac
    It kind of reminds me of the $180 billion taxpayers lost on The 80s Savings and Loan collapse created by Reagan. Or the billions lost on the bank bailouts and FDIC costs. Not to mention the trillion spent on Iraq that taxpayers will pay.
    Liberals-conservatives, they all cost taxpayers a huge chunk of change.
    Last edited by USA_1; 10-23-10 at 06:12 PM.
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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    I didn't approve of the circumstances of the initial bailout, but I am glad that GM is moving back to the private sector. IPO's normally are discounted because of the risk involved, and this case is riskier than most. I will accept reasonable losses as the necessary cost of getting the government out of the automobile business.

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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by rathi View Post
    I didn't approve of the circumstances of the initial bailout, but I am glad that GM is moving back to the private sector. IPO's normally are discounted because of the risk involved, and this case is riskier than most. I will accept reasonable losses as the necessary cost of getting the government out of the automobile business.
    I seriously doubt the government ever wanted to be in the automobile business dispite what some want us to believe. It was more about saving one of oure largest American manufacturing companies. It was pretty much the same as saving AIG/Goldman Sachs.
    "This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."" GWB

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    Re: Taxpayers likely to face initial loss on GM IPO-sources

    Quote Originally Posted by USA-1 View Post
    It kind of reminds me of the $180 billion taxpayers lost on The 80s Savings and Loan collapse created by Reagan. Or the billions lost on the bank bailouts and FDIC costs. Not to mention the trillion spent on Iraq that taxpayers will pay.
    Liberals-conservatives, they all cost taxpayers a huge chunk of change.
    FWIW, S&L cost $120b and the bank bailouts actually earned the Treasury a fat grip of cash.
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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