Discussion in 'Stocks' started by andrasnm, Jan 9, 2006.
it's not even April yet......
Apparently dumb money will invest in GM for the long-term upon an upgrade.
It's also a pity analysis pay aren't directly based on their recommendations.
Hopefully the PBGC and GM bondholders will smarten up and tell Congress to change the bankrupcy laws so they get paid in full first before the equity owners see a cent.
well if they cut the common div the bonds and prefs should get a nice pop IMHO
Gm has what... 300 billion in debt
The bondholders should immediately call their friends in congress to ensure that upon GM's default, they will receive their full $300 billion before equity owners and accounts payable see a damned cent.
A dividend cut is also only delaying the inevitable. The PBGC should step in and ensure GM has the necessary assets to cover its pension liabilities. This non-sense of PBGC running a defict is criminal.
I wonder if the stock will still trade above $20 knowing that it will be at zero in two years tops.
Don't even get me started on GM's income tax refunds (corporate welfare) under the IRS' tax-loss carryover. The government should never subsidize a company which loses money.
Has GM ever in it's history been in a trouble like this before?
please post in existing GM thread