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Saudi Prince Walid bin Talal says he took a $500M piece of General Motors' (GM -2.4%) IPO,...

Saudi Prince Walid bin Talal says he took a $500M piece of General Motors' (GM -2.4%) IPO, representing a 1% stake in the company. He was one of several big investors GM and its advisers courted during the IPO process. The prince isn’t afraid to offer his advice to the heads of companies he invests in - just ask Vikram Pandit (C).
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Comments (3)
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    1%? That's a boat load more than the average American taxpayer that floated this piece of crap got.
    23 Nov 2010, 03:55 PM Reply Like
  • Harry Tuttle
    , contributor
    Comments (2221) | Send Message
     
    As to whether his advice is any good...

     

    "...The most important men in town would come to fawn on me!
    They would ask me to advise them,
    Like a Solomon the Wise.
    "If you please, Reb Tevye..."
    "Pardon me, Reb Tevye..."
    Posing problems that would cross a rabbi's eyes!

     

    And it won't make one bit of difference if i answer right or wrong.
    When you're rich, they think you really know!"

     

    [from "Fiddler On The Roof"]
    23 Nov 2010, 03:56 PM Reply Like
  • lafano
    , contributor
    Comments (222) | Send Message
     
    Lets see how long (I mean quickly) before he sells out of GM (Government Motors). Im glad that he was courted to participate in the deal. Why didn't we court more people to get our money back completely? This is still a significant loss for the taxpayer and it will take many many years until we're paid back completely, or as much as the banks already returned. I wonder why? Is there a different standard?...lol...
    23 Nov 2010, 04:14 PM Reply Like
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