GM Falls Below IPO Price as Rising Oil Dims Truck Outlook

[Badmutha]

GM Falls Below IPO Price as Rising Oil Dims Truck Outlook - Businessweek

GM Falls Below IPO Price as Rising Oil Dims Truck Outlook

Feb. 24 (Bloomberg) -- General Motors Co. fell to the lowest since its initial public offering in November as rising oil prices dimmed the outlook for truck sales after the largest U.S. automaker’s most profitable year since 1999.

GM slid $1.84, or 5.3 percent, to $32.75 at 2:30 p.m. in New York Stock Exchange composite trading. The intraday drop marked the first day GM traded at less than its $33 initial offering price.

Remember......Obama told us that "we would make a profit" from bailing out the UAW Union of Slobs.........the same for TARP.

.....if you havent received a GM profit sharing check or TARP dividend check yet.....your in for an eternal wait.
.
.
.

 

[Councilman]

I can't wait to see how this shakes out.

Had all the bailout money been handed out to all Americans we would have spent or way out the recession and most of us might be out of debt still.

 

[Kandahar]

Remember......Obama told us that "we would make a profit" from bailing out the UAW Union of Slobs.........the same for TARP.

.....if you havent received a GM profit sharing check or TARP dividend check yet.....your in for an eternal wait.
.
.
.

What are you pissed off about? It's already been IPO'ed and therefore isn't on the government's books anymore. So unless you own stock in GM, what do you care if it falls below that price?

 

[The Prof]

unbelievable

UPDATE 2-Taxpayers likely to face initial loss on GM IPO | Reuters

 

[Redress]

unbelievable

UPDATE 2-Taxpayers likely to face initial loss on GM IPO | Reuters

Hey look, a 5 month old article making guesses about an event that happened 4 months ago. Unbelievable that you think it is at all relevant to anything.

 

[donsutherland1]

FWIW, the latest information on the GM IPO/status of government position in GM: Post-IPO, the U.S. Government still holds a 33% stake in the company and approximately $22 billion out of the $50 billion assistance has been repaid. From CNN:

About $11.8 billion of the proceeds from the sale will go to the U.S. Treasury, which has held a 61% stake in GM since July 2009 in return for the $50 billion bailout that helped GM get through its bankruptcy process. Taxpayers' stake in GM will fall to about 33% of the common stock following the sale.

Whether or not taxpayers get back all of the $50 billion will depend upon the price of the stock when the remaining shares held by Treasury are sold.

GM IPO biggest ever - Nov. 17, 2010

 

[The Prof]

Unbelievable that you think it is at all relevant to anything.

LOL!

thick as a brick

 

[Whovian]

great. the goernment bought the GM stock at 43.84/share, sold less than half (so they could maintain control) in the IPO at 33/share... now it's worth 33.99/share?

what happened to the 'profit' we were promised on this deal?

 

[ARealConservative]

What are you pissed off about? It's already been IPO'ed and therefore isn't on the government's books anymore. So unless you own stock in GM, what do you care if it falls below that price?

like pretty much every post of yours, this is a half truth.

 

[Badmutha]

What are you pissed off about? It's already been IPO'ed and therefore isn't on the government's books anymore.

....please......

So unless you own stock in GM, what do you care if it falls below that price?

Because Im hoping Obama is going to send me a GM Profit Sharing Check along with a TARP dividend check........as soon as "We make a profit".
.
.

 

[whysoserious]

Remember......Obama told us that "we would make a profit" from bailing out the UAW Union of Slobs.........the same for TARP.

.....if you havent received a GM profit sharing check or TARP dividend check yet.....your in for an eternal wait.
.
.
.

I don't agree with your partisan view, but as a Saab owner, I am not surpised. GM has failed, like much of America, to innovate.

 

[washunut]

What are you pissed off about? It's already been IPO'ed and therefore isn't on the government's books anymore. So unless you own stock in GM, what do you care if it falls below that price?

Did the government sell off it's entire stake, I don't think so.

 

[Badmutha]

I don't agree with your partisan view, but as a Saab owner, I am not surpised. GM has failed, like much of America, to innovate.

Innovation can prove difficult with a 1000lb wellstone tied to your neck.......

GM sales in 2007: 9,370,000
Toyota sales in 2007: 9,366,418

GM profit/loss in 2007: -$38,730,000,000
Toyota profit in 2007: +$17,146,000,000

..........one made a profit......one had the UAW.
.
.
.
.

 

[USA_1]

Innovation can prove difficult with a 1000lb wellstone tied to your neck.......

GM sales in 2007: 9,370,000
Toyota sales in 2007: 9,366,418

GM profit/loss in 2007: -$38,730,000,000
Toyota profit in 2007: +$17,146,000,000

..........one made a profit......one had the UAW.
.
.
.
.

Ford has the UAW too.

 

[USA_1]

Remember......Obama told us that "we would make a profit" from bailing out the UAW Union of Slobs.........the same for TARP.

.....if you havent received a GM profit sharing check or TARP dividend check yet.....your in for an eternal wait.
.
.
.

You do know TARP was Bush's doing, don't you?

 

[Badmutha]

Ford has the UAW too.

.....hence their days and profits are numbered.

You do know TARP was Bush's doing, don't you?

.....of course....President Bush....along with Senator Obama.....a Democrat controlled Senate......a Democrat controlled House.....made TARP happen.
.
.
.
.

 

[USA_1]

Badmutha;1059311717].....hence their days and profits are numbered.

How long have they been in business? Oil prices are going to hurt all the carmakers.
http://www.businessweek.com/globalbiz/content/may2009/gb2009058_991777.htm
Toyota's Loss Is Worse Than Expected
The Japanese automaker's first annual net loss in 59 years was larger than the company had projected, and its outlook remains grim

.....of course....President Bush....along with Senator Obama.....a Democrat controlled Senate......a Democrat controlled House.....made TARP happen.

.
TARP was all Bush's baby.............He give congress no choice but to support it or the country would go into depression. Remember?

 

[Badmutha]

How long have they been in business? Oil prices are going to hurt all the carmakers.

.....yeah just like Collective Bargaining....

TARP was all Bush's baby.............He give congress no choice but to support it or the country would go into depression. Remember?

Obama Wins $350B Senate TARP Vote - ABC News

.......
...
.
..

 

[USA_1]

E=Badmutha;1059311729]....

.yeah just like Collective Bargaining

....
You do know unions have been around for awhile, don't you? Even when US automakers grew into some of the largest corporations in the world and during times of record profits. The Bush recession almost destroyed US automakers. Did the unions create the recession, too? Do unions control gas prices?

Obama Wins $350B Senate TARP Vote - ABC News

That was the same Bush TARP bill just the second part of it. Why did they need it anyway? Could it be that the economy was about to go into a depression when Obama took office?

.......
...
.
..[/QUOTE]

 

[Badmutha]

]........
You do know unions have been around for awhile, don't you? Even when US automakers grew into some of the largest corporations in the world and during times of record profits. The Bush recession almost destroyed US automakers. Did the unions create the recession, too? Do unions control gas prices?

The host organism always precedes the parasite........Prosperity always precedes Organized Labor.....

That was the same Bush TARP bill just the second part of it. Why did they need it anyway? Could it be that the economy was about to go into a depression when Obama took office?

Well it sounds like you are against TARP........

................but only when Bush was spending it.
.
.
.
.

 

[USA_1]

The host organism always precedes the parasite........Prosperity always precedes Organized Labor.....

Unions helped create the middle class.........the same class that could afford to buy those cars. Prosperity for the automakers came after they were unionized in 1935.

Well it sounds like you are against TARP........

................but only when Bush was spending it.

I was totally against TARP. Just trying to educate you about who created it and why it was created.
TE]

 

[Badmutha]

I was totally against TARP. Just trying to educate you about who created it and why it was created.
TE]

....except when Obama is spending it.......
.
.
..

 

[upsideguy]

Remember......Obama told us that "we would make a profit" from bailing out the UAW Union of Slobs.........the same for TARP.

.....if you havent received a GM profit sharing check or TARP dividend check yet.....your in for an eternal wait.
.
.
.

1. Sorry, but its very typical to have a downtick in price after an IPO. The IPO event is hyped by the I-bankers, so the stock is often recesses from its IPO level within months. The long-term price will be tried to the performance of the company.
2. Anyone that has criticized the president for spending the bailout money and complained about that charge against the deficit as no right to complain about the "profit" or "lack of profit" on the bailout, as you have taken the posture that the money was expensed already.... thus we are already in a profit position since we had recovery on a sunk cost. Only if you have not criticized the bailout as an expense but rather viewed it as an investment (an asset) can you honestly keep score on the return on that investment.

No matter how you slice it, it was a helluva deal for the US tax payer. The unemployment paid to auto workers (GM, Chrysler and their supply chains) would have been far more dollars
than anything that might ultimately be "lost" on this deal. There are plenty of things to be critical of the Obama administration, but this one was a big win to any objective soul.

 

[ptif219]

It is all a scam the taxpayers lost and UAW won at our expense and through huge deceptions by Obama

GM's Phony Bailout Payback - Reason Magazine

 

[USA_1]

....except when Obama is spending it.......
.
.
..

No, I was more against Obamas spending it. Just pointing out he didn't create it or the need for it.