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General Motors (GM +7.6%) opens trading with a pop, but don't get too excited, David Weidner...

General Motors (GM +7.6%) opens trading with a pop, but don't get too excited, David Weidner writes. The automaker hasn’t made consistent profits in more than a decade, and the "new" GM feels more like a used car than a new one, he says, so don’t be surprised if GM’s IPO can’t keep its promises either.
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Comments (2)
  • youngman442002
    , contributor
    Comments (5129) | Send Message
    They won´t..this was a political sale..not a business decision..or should I say a community organizer sale
    18 Nov 2010, 10:48 AM Reply Like
  • Dr. Poly
    , contributor
    Comments (370) | Send Message
    I fully expect David Weidner to be brought up on treason charges for saying anything bad about Guv'ment Motors.


    Lying is not beyond our govermnment. The government will be completely paid back by the GM IPO and subsequent follow-on offerings. This statement does not ring true if one does a full accounting - what about the former co-conspirator of GM (GMAC and their TARP bailout and fraudclosure mess), what about the ability to keep accrued losses after emerging out of bankruptcy that will allow GM to offset earnings for years and be one of those companies that don't owe US taxes?


    Lying is not beyond the current GM leadership. We don't rely on incentives anymore - the industry model has changed. Check the current listing of incentives.



    Liddell (CFO) claims they can pay down the debt of the company and work to be a company that makes money at the bottom of the trough and will work to pay a dividend in the future. The CEO laughed about the 5 yr business projections by past GM management and Liddell is making projections about what they will do repair the balance sheet and get the company into triple AAA status - how many years will that take?
    18 Nov 2010, 11:07 AM Reply Like
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