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General Motors to buy back shares from UAW retirees fund

General Motors (GM) says it will repurchase 120M shares of its preferred stock from the UAW Retiree Medical Benefits Trust.

The transaction price will be $27 per share.

GM +0.7% premarket.

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Comments (5)
  • Remford
    , contributor
    Comments (123) | Send Message
    After using the funds it didn't repay to taxpayers, bondholders and other creditors left high and dry to make all sorts of investments and acquisitions GM otherwise couldn't have funded, what better news could there be than GM having even MORE cash on hand to acquire additional shares in itself.
    23 Sep 2013, 09:08 AM Reply Like
  • tcbracing
    , contributor
    Comments (333) | Send Message
    Your beef should be with the government that came up with the BK plan not GM who is employing several thousand of our citizens, raising the standard of living for the middle class and keeping up competition in the marketplace with great vehicles.


    Everyone of your GM bashing posts make you sound less and less for America an American Company and American citizens and more like someone that just can't let go. Scary that this is the kind of attitude that is out there...
    23 Sep 2013, 09:13 AM Reply Like
  • markwbrooks
    , contributor
    Comments (136) | Send Message
    Looks like a smart move with inflation on the way up and prefs linked to inflation...
    23 Sep 2013, 09:58 AM Reply Like
  • jack897
    , contributor
    Comments (259) | Send Message
    tcbracing, I agree 100% with you. The me, me generation can not see beyond their nose today.
    23 Sep 2013, 10:01 AM Reply Like
    , contributor
    Comments (8) | Send Message
    bankruptcy changed one attitude at GM. does anyone remember or speak of government anti trust on the company that has fifty percent of the car market? Fourty years of mediocre products because GM is afraid to kick ass. a few mistakes like corvette and olds cutlass sold very well but not enough so anyone noticed. today GM is going after Tesla and has the best truck anywhere.
    23 Sep 2013, 02:06 PM Reply Like
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