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As expected, General Motors prices its initial public offering at $33, with a float that was...

As expected, General Motors prices its initial public offering at $33, with a float that was expanded 30% yesterday. The Treasury owns 61% of GM, a stake that could shrink to 33% when most IPO proceeds go to the government.
Comments (10)
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    ponzi. period.
    17 Nov 2010, 04:32 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    I think its criminal how they are selling this on Bloomberg...the numbers they are spewing are headlines...not the real cost...and how the government is so great at business...ask the previous bond holders...what a joke....I heard the unions were selling their stock holdings too....why????? something they know that we donĀ“t...
    17 Nov 2010, 04:37 PM Reply Like
  • eggfaced
    , contributor
    Comments (293) | Send Message
     
    Maybe they are desparately trying to drum up attention and excitment for this offering by severly underselling it initially and then creating a barrage of headlines and rumors giving it the illusion there is a ton of demand. Only for the government and the I-Banks to sell into the initial pop leaving the general public holding the bag again.
    17 Nov 2010, 04:45 PM Reply Like
  • eggfaced
    , contributor
    Comments (293) | Send Message
     
    Because when they do both there is incompentence, waste, fraud, and abuse not to mention political intentions such us gaining the Union vote.
    17 Nov 2010, 04:58 PM Reply Like
  • alphaman997
    , contributor
    Comments (66) | Send Message
     
    The above comments are beyond foolish. These were the type of people who complained when the government nationalized GM. Now they complain when the government privatizes GM. Make up your minds!
    17 Nov 2010, 04:45 PM Reply Like
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    So, closes tomorrow at 40ish, and closes on Friday at 30ish, or less?? Sounds about right.
    17 Nov 2010, 04:48 PM Reply Like
  • linenoise
    , contributor
    Comments (215) | Send Message
     
    IPO's this big aren't allowed to fail within the silent period.
    17 Nov 2010, 05:01 PM Reply Like
  • kmi
    , contributor
    Comments (3983) | Send Message
     
    Really?

     

    I think a lot of folks here letting their politics do their talking. Whether bailing out GM was appropriate is one thing, but suggesting a GM devoid of a lot of liabilities (sorry bondholders) and more capable of competing, especially against a strong-Yuan-facing-Jap... while bring lots of new much more competitive products to market, isn't really analysis...
    18 Nov 2010, 02:20 AM Reply Like
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    This is a most public hosing. Where is the alarm at this drubbing at the hands of GM? Though GM may return $33 billion, they retained $45Billion in tax losses from previous years which will ensure they pay no taxes going forward for years. Nothing wrong with that if it weren't that they retained those tax los carry forwards even though they declared bankruptcy. That's wrong! Add to that the fact that GMs initial payback of TARP money was paid back with more government money. Add to that GM has applied for long term low interest government guaranteed loans to build new factories. Of course, we don't know which country those factories will be built.
    17 Nov 2010, 06:33 PM Reply Like
  • Iyad Atuan
    , contributor
    Comment (1) | Send Message
     
    This is a PERFECT example of the short memory of investors and the irrationality of the market. I get so excited when I hear similar news and about irrational investors, I was afraid that after the meltdown, investors would be smarter with their money but it seems they ain't...

     

    Without irrational investors, there would be no real opportunities for any ALPHA, wouldn't there?

     

    So from the bottom of my heart...thank you.

     

    Iyad
    17 Nov 2010, 06:35 PM Reply Like
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