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BREAKING: US Government Sells GM Stake - Books 50% Loss

 
Anonymous Coward
User ID: 29687017
United States
12/19/2012 05:52 PM
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BREAKING: US Government Sells GM Stake - Books 50% Loss
The US government is selling it's remaining stake in GM at a 50% loss.

Zero Hedge:
"Treasury intends to begin its disposition of those 300.1 million common shares as soon as January 2013 pursuant to a pre-arranged written trading plan. The manner, amount, and timing of the sales under the plan are dependent upon a number of factors. Assuming a price in the $27.50 range, this implies a nearly 50% loss on the government's breakeven price of $54. So much for the "profit" spin. One hopes all those Union votes were well worth the now booked $40+ billion cost to all taxpayers."

Read more at: [link to www.zerohedge.com]
Luisport

User ID: 30319923
Portugal
12/19/2012 05:54 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
bump
TruthAddict
User ID: 1106192
Malta
12/19/2012 06:10 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
WOW!!! And to think, THEIR people were telling the sheeple that: "they were going to 'fix it'."
Waterbug

User ID: 1295673
United States
12/19/2012 06:15 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
And such brilliant business acumen is why we are
fucking broker than a broke-dick dawg....
Omniscient1

User ID: 25801142
United States
12/19/2012 06:20 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
So GM cars and trucks are 50% off
Omniscient1

User ID: 25801142
United States
12/19/2012 06:22 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
GM now needs to give away 40 Billion in cars to the US taxpayer.
Anonymous Coward (OP)
User ID: 29687017
United States
12/19/2012 06:22 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
So GM cars and trucks are 50% off
 Quoting: Omniscient1


Don't I wish! I'd go buy me one of those brand new 2014 Silverados.
Anonymous Coward
User ID: 30358128
France
12/19/2012 06:24 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Sounds like a new bailout to me.
Omniscient1

User ID: 25801142
United States
12/19/2012 06:26 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Hey Geitner suck my ass
Anonymous Coward
User ID: 24782026
United States
12/19/2012 06:27 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
The moment you believe a single one of these cocksuckers is on your side.. you're officially an idiot.
*HEISENBERG*

User ID: 30143760
United States
12/19/2012 06:29 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
There is one group of Americans that it's ok to screw over.

They are called Taxpayers.
Anonymous Coward
User ID: 8780909
United States
12/19/2012 06:29 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Sounds like a new bailout to me.
 Quoting: Anonymous Coward 30358128


Bailout lol we're broke over here the mass public just hasn't realized it yet lol.
Anonymous Coward
User ID: 30358128
France
12/19/2012 06:31 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
GM now needs to give away 40 Billion in cars to the US taxpayer.
 Quoting: Omniscient1


Nope Obango executive order will order you to go deeper in debt to buy a GM truck, or face forced labor in Alaska.
lunatex

User ID: 5319754
United States
12/19/2012 06:32 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
The US government is selling it's remaining stake in GM at a 50% loss.

Zero Hedge:
"Treasury intends to begin its disposition of those 300.1 million common shares as soon as January 2013 pursuant to a pre-arranged written trading plan. The manner, amount, and timing of the sales under the plan are dependent upon a number of factors. Assuming a price in the $27.50 range, this implies a nearly 50% loss on the government's breakeven price of $54. So much for the "profit" spin. One hopes all those Union votes were well worth the now booked $40+ billion cost to all taxpayers."

Read more at: [link to www.zerohedge.com]
 Quoting: Anonymous Coward 29687017


You obviously need to buy a Chevy. NO!, my mistake, you are obviously a Cadilllac man. By the way, why do you hate your country?
lunatex
Anonymous Coward
User ID: 6568391
Bulgaria
12/19/2012 06:32 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
GM now needs to give away 40 Billion in cars to the US taxpayer.
 Quoting: Omniscient1


THIS!!!
Anonymous Coward
User ID: 6568391
Bulgaria
12/19/2012 06:33 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
The moment you believe a single one of these cocksuckers is on your side.. you're officially an idiot.
 Quoting: Anonymous Coward 24782026


This!
Anonymous Coward
User ID: 30358128
France
12/19/2012 06:36 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Sounds like a new bailout to me.
 Quoting: Anonymous Coward 30358128


Bailout lol we're broke over here the mass public just hasn't realized it yet lol.
 Quoting: Anonymous Coward 8780909


I meant taxpayer is Santa Claus.
Anonymous Coward
User ID: 26997426
United States
12/19/2012 06:36 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
They don't care. It wasn't their money. Just playing the part of the middle man passing the $ from your wallet to the tax free foreign bank accounts of the corporate leviathans that own this country. It's been the status quo for 30+ years. The only difference is that the end game is approaching, they have won, they know it, and they no longer give a fuck if you know it or not. Too bad nobody gave a shit 30 years ago. Buh-Bye.
Anonymous Coward
User ID: 6568391
Bulgaria
12/19/2012 06:36 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Add this to the list of reasons General Motors’ stock is about to pop: the U.S. Treasury plans to sell 200 million shares back to GM before the end of the year and says it will divest its remaining stake in the automaker over the next 12-15 months.GM shares rose 6 percent, to around $27 , on Wednesday, signaling that investors are pleased by Treasury’s planned exit. It’s good news for the company, too, because it can at last begin shaking off the “Government Motors” moniker that has sullied its image with some consumers. “It obviously brings some clarity and certainty around the U.S. Treasury exit,” Chief Financial Officer Dan Ammann told reporters. “It’s obviously good for the business in terms of continuing to remove the perception of government involvement in the company, which is going to be good for sales,” he added.
[link to www.forbes.com]
Anonymous Coward
User ID: 30333677
United Kingdom
12/19/2012 06:38 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
The US government is selling it's remaining stake in GM at a 50% loss.

Zero Hedge:
"Treasury intends to begin its disposition of those 300.1 million common shares as soon as January 2013 pursuant to a pre-arranged written trading plan. The manner, amount, and timing of the sales under the plan are dependent upon a number of factors. Assuming a price in the $27.50 range, this implies a nearly 50% loss on the government's breakeven price of $54. So much for the "profit" spin. One hopes all those Union votes were well worth the now booked $40+ billion cost to all taxpayers."

Read more at: [link to www.zerohedge.com]
 Quoting: Anonymous Coward 29687017


THe .gov don't give a shit.

After all, "money" is just Jew-confetti.

Press CTRL-P.
Anonymous Coward
User ID: 6568391
Bulgaria
12/19/2012 06:39 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Canada unlikely to sell GM stake soon, expertsRead more:  [link to www.foxbusiness.com]

CANADA?! O_o
Anonymous Coward
User ID: 30272530
Argentina
12/19/2012 06:39 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
The US government is selling it's remaining stake in GM at a 50% loss.

Zero Hedge:
"Treasury intends to begin its disposition of those 300.1 million common shares as soon as January 2013 pursuant to a pre-arranged written trading plan. The manner, amount, and timing of the sales under the plan are dependent upon a number of factors. Assuming a price in the $27.50 range, this implies a nearly 50% loss on the government's breakeven price of $54. So much for the "profit" spin. One hopes all those Union votes were well worth the now booked $40+ billion cost to all taxpayers."

Read more at: [link to www.zerohedge.com]
 Quoting: Anonymous Coward 29687017


I'm very sure they won't actually lose 50% on this. In fact, they won't lose ANYTHING. I'm sure those fuckers were massively short (probably naked short and using massive leverage) the stock via dark liquidity pools, covered under $20/share, and made more money than you and I can ever dream of. That's how this shit works -- only the taxpayers get fucked. The big boys running the system NEVER lose.
Anonymous Coward
User ID: 21675242
Finland
12/19/2012 06:40 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Add this to the list of reasons General Motors’ stock is about to pop: the U.S. Treasury plans to sell 200 million shares back to GM before the end of the year and says it will divest its remaining stake in the automaker over the next 12-15 months.GM shares rose 6 percent, to around $27 , on Wednesday, signaling that investors are pleased by Treasury’s planned exit. It’s good news for the company, too, because it can at last begin shaking off the “Government Motors” moniker that has sullied its image with some consumers. “It obviously brings some clarity and certainty around the U.S. Treasury exit,” Chief Financial Officer Dan Ammann told reporters. “It’s obviously good for the business in terms of continuing to remove the perception of government involvement in the company, which is going to be good for sales,” he added.
[link to www.forbes.com]
 Quoting: Anonymous Coward 6568391


Good spin! So it's actually a great thing that the taxpayers lost 40 billion?!
Anonymous Coward (OP)
User ID: 29687017
United States
12/19/2012 06:41 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Add this to the list of reasons General Motors’ stock is about to pop: the U.S. Treasury plans to sell 200 million shares back to GM before the end of the year and says it will divest its remaining stake in the automaker over the next 12-15 months.GM shares rose 6 percent, to around $27 , on Wednesday, signaling that investors are pleased by Treasury’s planned exit. It’s good news for the company, too, because it can at last begin shaking off the “Government Motors” moniker that has sullied its image with some consumers. “It obviously brings some clarity and certainty around the U.S. Treasury exit,” Chief Financial Officer Dan Ammann told reporters. “It’s obviously good for the business in terms of continuing to remove the perception of government involvement in the company, which is going to be good for sales,” he added.
[link to www.forbes.com]
 Quoting: Anonymous Coward 6568391


bsflag

The stock price went up because GM agreed to pay $27.50/share to the Department of the Treasury. GM is touting improving "losses" in Europe. That's right, improving LOSSES. Any company that says it is doing well because it's losing money is about to go belly up. I expect a GM liquidation before 2020.
Omniscient1

User ID: 25801142
United States
12/19/2012 06:46 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Anybody else get the feeling the sooner they crash it the better ? These "representative"parasites need to be routed out now.
Anonymous Coward
User ID: 30119987
United States
12/19/2012 06:47 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
The US government is selling it's remaining stake in GM at a 50% loss.

Zero Hedge:
"Treasury intends to begin its disposition of those 300.1 million common shares as soon as January 2013 pursuant to a pre-arranged written trading plan. The manner, amount, and timing of the sales under the plan are dependent upon a number of factors. Assuming a price in the $27.50 range, this implies a nearly 50% loss on the government's breakeven price of $54. So much for the "profit" spin. One hopes all those Union votes were well worth the now booked $40+ billion cost to all taxpayers."

Read more at: [link to www.zerohedge.com]
 Quoting: Anonymous Coward 29687017


You obviously need to buy a Chevy. NO!, my mistake, you are obviously a Cadilllac man. By the way, why do you hate your country?
 Quoting: lunatex


does it matter? most of the parts of "American" cars are made in china....oops s226
Anonymous Coward
User ID: 6568391
Bulgaria
12/19/2012 06:49 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I'm going to live on a sheep farm in Scotland. That's it.
Anonymous Coward (OP)
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United States
12/19/2012 06:49 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Anybody else get the feeling the sooner they crash it the better ? These "representative"parasites need to be routed out now.
 Quoting: Omniscient1


The reason why the government is cutting their losses now is that GM is about to go bankrupt, and by bankrupt I mean chapter 7, not chapter 11. In other words, a total liquidation. So the goverment feels that it is better to cut their losses at 50% rather than take a nearly 100% loss. It's too bad that GM didn't go bankrupt sooner because if the government had taken a near 100% loss, there would be a political shitstorm to follow.
Anonymous Coward
User ID: 23907045
United States
12/19/2012 06:52 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
Anybody else get the feeling the sooner they crash it the better ? These "representative"parasites need to be routed out now.
 Quoting: Omniscient1


They will get another bailout. The treasury offloading now is shychronized to a repurchase program they can make now that Ally is out of FDIC probation. Then they will dump at the top, create a strike situation and get all the "new hires" fired after 3 years to get PBRC 60% for the rest of life.

People think Mitt Romney types (MBAs, PhDs in economics, CPAs, etc) are vulture capitolists. You aint seen nothing till you get union bosses at the controls of the financials on a gravy train like GM. The outcome is essential the same just alot faster.
Desert FoxModerator
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12/19/2012 06:53 PM

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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
GM now needs to give away 40 Billion in cars to the US taxpayer.
 Quoting: Omniscient1


That would at least make the theft more palatable.
TOMABANEFOX
Anonymous Coward (OP)
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United States
12/19/2012 06:58 PM
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Re: BREAKING: US Government Sells GM Stake - Books 50% Loss
I started another thread about GM a few days ago. It was based on the fact that GM went back to a single body style for both the GMC Sierra and Chevrolet Silverado. The previous incarnation was two different bodystyles but the 2014 models will share everything with the exception of the grill and headlights. Based on that, I created the thread stating that tough times had hit GM and that they would most likely fold in the coming years. That compounded with the news about the government selling it's stake can only mean one thing - GM is about to go under.

Thread: Tough times at GM

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