General Motors Files for IPO; Says Buh-Bye to Socialism - Pontiac G8 Forum: G8 Forums - G8Board.com
 
LinkBack Thread Tools
post #1 of 4 (permalink) Old 08-19-2010, 09:57 AM Thread Starter
Sponsored Editorial Content
 
Join Date: Jul 2010
Posts: 91
General Motors Files for IPO; Says Buh-Bye to Socialism


General Motors has just announced the filing of papers with the Securities and Exchange Commission for an Initial Public Offering (IPO) that will see the company handed back over to investors and removed from government control.

Including in the filing are plans for preferred stock that carries with it both debt and equity and also has priority in a bankruptcy situation.

According to a Bloomberg report, GM hopes to generate $16 billion by the IPO, selling off roughly a fifth of the stock currently owned by the U.S. Treasury. This would then make the government a minority shareholder in General Motors and is likely to be followed by continued sell-offs until GM is entirely out of government hands. Currently the U.S. government owns a 61 percent stake in GM.

GM has already paid back the $6.7 billion in loans it received from the U.S. and Canadian governments, however, that amount is only a small portion of the almost $50 billion bailout GM received.

More: General Motors Files for IPO; Says Buh-Bye to Socialism on AutoGuide.com
AutoGuide.com is offline  
Sponsored Links
Advertisement
 
post #2 of 4 (permalink) Old 09-11-2010, 09:13 PM
Pontiac Enthusiast
 
g8810's Avatar
 
Join Date: Mar 2010
Location: DFW Texas
Posts: 115
Public Shares

Maybe once we are owned by the public again, we can get the Chevy Caprice SS here stateside, not as a stand alone police interceptor.

Metro Detroit Assemble!

2009 GT Stryker Blue XX of 1111 produced
93 Cortex Tune (50% TQM, AFM-OFF),
RotoFab CAI, Giovanna Dalar 20's,
Mach Solo Unbalanced with J Pipes removed,
20% Tint, Black Emblem Inserts, Sharkfin Antenna, Bluestar Costar OnStar Delete
g8810 is offline  
post #3 of 4 (permalink) Old 09-11-2010, 09:15 PM
Red Sox Nation !!!
 
Screw991le's Avatar
 
Join Date: Sep 2008
Location: Revere Beach, MA
Posts: 2,665
The IPO should be open to all.

2010 Steel Gray MB E63 AMG
Screw991le is offline  
 
post #4 of 4 (permalink) Old 09-11-2010, 09:18 PM
Senior Member
 
T-Type's Avatar
 
Join Date: Mar 2009
Location: Niles, IL.
Posts: 669
Quote:
Originally Posted by g8810 View Post
Maybe once we are owned by the public again, we can get the Chevy Caprice SS here stateside, not as a stand alone police interceptor.
That was a GM decision, not a government one (although new government industry regulations influenced GM decision making process).
T-Type is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Pontiac G8 Forum: G8 Forums - G8Board.com forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome