They'll sell you all the GM you want for $1 a share

Discussion in 'Stocks' started by stock777, Apr 27, 2009.

  1. That's right, all the long stock you want for 1/2 price.

    Don't forget to thank me when you double your money,.
  2. Illum


    Regardless of the worth of this garbage. If BK is going off the table, shorts have to cover, and no one is going to make it easy for them.
  3. The aggregate amount of GM common stock to be issued to the U.S. Treasury (or its designee) pursuant to the U.S. Treasury debt conversion and to the new VEBA pursuant to the VEBA modifications would represent approximately 89 percent of the pro forma GM common stock (assuming full participation in the exchange offers), with the final allocation between the U.S. Treasury (or its designee) and the new VEBA to be determined in the future. Of the remaining pro forma outstanding GM common stock, noteholders would represent approximately 10 percent, and existing GM common stockholders would represent approximately 1 percent. [emphasis added] We determined the foregoing GM common stock allocations following discussions with the U.S. Treasury where the U.S. Treasury indicated that it would not be supportive of higher allocations to the holders of notes or to existing GM common stockholders.