GM IPO, the real deal

This is son of Gm. get some

 

SAIC Motor Corp in talks with General Motors over 1% stake

http://www.guardian.co.uk/business/2010/nov/15/saic-motor-corp-general-motors-stake

 

I'd like to know the price paid and the underwriter who sold the shares.

PS, The automaker is getting orders from large institutional investors who are likely to be long-term shareholders at about $32 a share, one of the people said.

My guess - GS

 

TD Ameritrade Holding Corp., the third-largest U.S. retail brokerage by clients, won’t be participating in GM’s IPO, according to an e-mail from Christina Goethe, a spokeswoman from the Omaha, Nebraska-based company.

“We have been informed that we will not receive an allocation of shares,” she said. “We have several relationships with various underwriting firms for various products, and in this case the underwriting firm is not allocating shares for this offering.”

Fidelity’s Clients

Clients of Fidelity Investments who either execute 36 trades a year, have $100,000 of assets with the firm, or use Fidelity’s “premium services” for high net worth individuals have access to the IPO, according to Steve Austin, a spokesman for the Boston-based firm.

Fidelity has a strategic relationship with Deutsche Bank that allows them to offer the GM shares to their customers, he said. Austin declined to say what Fidelity’s allocation will be for the IPO or how much demand it’s seeing from its clients.

 

Considering I have put some time into this GM IPO, I do have a market prediction for Thursday.

Imo, the market up on Wed, so I would consider short the market at some point on Wed because I do believe we'll open down on Thursday or spend sometime in the red on Thursday.

 

The government is incredibly competent at squandering tax dollars. So bailing out GM and selling at a big loss sounds exactly like what my government is best at doing.

 

I don't want GM's stock, but I definitely want some Goodwill...

 

I was going to do a bunch bullshit flip trades and get qualified with fidelity for the gm ipo, but looks like they raised price to $32+ now? man fuck those assholes.

 

from zero hedge:

The administration is doing everything it can to make sure that the worst IPO in history, that of Government Motors of course, will not be DOA. The latest news is that Getco has been appointed to be a DMM for the year's most important IPO. As Bloomberg reports: "The Chicago-based firm will be tasked with helping trading go smoothly when the auto maker returns to the New York Stock Exchange after a 16-month absence, expected to occur Thursday. NYSE Euronext (NYX) spokesman Christiaan Brakman confirmed that Getco was selected from among the exchange's five designated market makers, who are responsible for buying and selling shares, smoothing trade imbalances and providing liquidity in designated symbols in return for incentives paid by the exchange." Well, by now it should be all too clear what "providing liquidity means."

In other words, expect Getco to internalize and churn any sell interest and make sure that the stock can only go up, up, up, until enough of it is in retail hands at which point it can find its fair value, somewhere in the neighborhood of zero.

 

In one twist from the ordinary IPO, a number of female- and minority-owned brokerages are involved in the deal. Among them are Loop Capital Markets in Chicago and Williams Capital Group in New York.

(Chicago, Chicago, that wonderful town, they do things they don't do on Broadway)