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The long and tortuous bankruptcy of Motors Liquidation Company (i.e. 'Old GM') is nearly over,...

The long and tortuous bankruptcy of Motors Liquidation Company (i.e. 'Old GM') is nearly over, as a federal judge clears the way for the distribution of General Motors (GM) stock and warrants to creditors.
Comments (5)
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Olny loosers were stockholders for old GM.
    4 Mar 2011, 08:26 AM Reply Like
  • apberusdisvet
    , contributor
    Comments (2923) | Send Message
     
    Two recent revelations are indicative that saving GM was a big mistake for taxpayers. The first is that GM "counts" a domestic sale when the car leaves the factory on a transporter to the dealer and not when the dealer actually sells it. The current situation shows dealer lots totally stuffed with vehicles, and "actual sales" are negligible. The second is the latest "free financing" to spur sales; not a good sign, especially since the Asian automakers have not followed suit.
    4 Mar 2011, 08:31 AM Reply Like
  • kmi
    , contributor
    Comments (4216) | Send Message
     
    not that i disagree but surely turning an entity the size of GM around takes more than a year or two, post-reconstruction pipeline and optimizations have hardly started to show their impact. Even Marccione at Chrysler expects his work to take more time there, and he is arguably very adept.
    4 Mar 2011, 08:53 AM Reply Like
  • Tim Roller
    , contributor
    Comments (54) | Send Message
     
    GM's reported earnings and net income are typical of a company post-bankruptcy. The common denominator is that certain expenses that other manufacturers normal depreciate over time as expenses were $0. That is what happens when your house burns down. What you have left is yours FREE. I am not sure the banks learned their lesson, but GM certainly has not learned their lesson. Never use GAAP to cover-up what REALLY IS HAPPENING. This company WAS NOT TOO BIG TO FAIL. It should have just failed. I do not tolerate ignorance. Let the FACTS speak for themselves.
    5 Mar 2011, 06:49 PM Reply Like
  • petergrt
    , contributor
    Comments (404) | Send Message
     
    While I agree that GM should have been let go through the normal Chapter 11 process, which would have salvaged many of its great assets and corresponding jobs, and I particularly take an issue with the way 0bama manhandled the investors and handed out taxpayer payed for presents to the unions, the fact is that the new company is lean, with gobs tax write-offs and most importantly, their products are pretty good and selling briskly - considering the economic environment. The company is and will be making a lot of money. In fact, their only loosing division is the European brands . . .

     

    That said, the stock at the current levels (<$ 32) is a real bargain . . . .
    7 Mar 2011, 03:32 PM Reply Like
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