fwiw "For some reason, companiesâ IPOs have a tendency to run into some minor scandal. Googleâs famously got slapped around by the SEC because its founders gave an interview to Playboy magazine during the âquiet periodâ ahead of its IPO â when it wasnât supposed to spill any company details to the public. Hertz dropped Deutsche Bank from its IPO several years ago, also over unauthorized email messages sent by an employee of the bank."
Until we have been able to test the operating effectiveness of remediated internal controls and ensure the effectiveness of our disclosure controls and procedures, any material weaknesses may materially adversely affect our ability to report accurately our financial condition and results of operations in the future in a timely and reliable manner. In addition, although we continually review and evaluate internal control systems to allow management to report on the sufficiency of our internal controls, we cannot assure you that we will not discover additional weaknesses in our internal control over financial reporting.
GM has orders for $60 bn in stock: David Whiston, an analyst at Morningstar. "I think at USD 26 to USD 29 the shares look very cheap. I would not be surprised to see the final pricing come up a little bit. My own valuation is currently USD 44 per share." http://www.moneycontrol.com/news/world-news/gm-has-orders-for-3660-bnstock-sources_499112.html
UAW funds will receive $8 billion from the offerings and newly issued common stock. GM has agreed to pay the UAW an additional $6 billion for its pension fund, payable on the offering -- $4 billion in cash from IPO stock and new preferred stock sales, and $2 billion in newly issued common stock. In addition, the UAW pension fund will receive another $2 billion in cash from a stock sale. On an ongoing basis, the UAW pension fund receives $500 million per year in interest from GM preferred stock that was issued post-bankruptcy.
this is bullshit that retails cant get in on the ipo, after all it's the taxpayers that bailed out the company, shouldnt we get first dibs or a piece of the pie in the ipo stock? I would buy at $27, gm is turning around its buick and chevy brand, cadillac has always been good. They are also a top brand/sales in china market. GMC is the only blackeye, they should just discontinued that brand and roll the trucks/pickup into chevy.
Enough of this gm ipo hype!!! Why has everyone forgot that this company used to trade on the big boards just a couple of years ago. It was fucking bailed out, its worthless. I'm so tired of hearing about this lame ipo.
It's going to get worse. The business of the US is the production and consumption of the automobile. Fed policy was/is governed by transportation engineers. We've narrowed the US down to two choices, ya ready? "What's good for GM is good for the country" .............................OR "What's good for GS is good for the country."