Evan Grey Owl

GM Says It Straight and Simple: Shares Are Going to Zero

NO. The company, and all the brokerages, needed to have told clients and investors this fact a long time ago. Not a single person I asked would give me a straight answer as to what happens to shares if a company declares bankruptcy, until it was too late. As a beginning investor, one would not automatically know this. Some employees at brokerages even told me it depends on the case, and shareholders might retain value, and it was impossible to know. The banks that back the company, they seem to want to pretend that the bankruptcy may not happen until it is already a done deal, so they can make sure they have best positioned themselves at small shareholders expense, who are kept in the dark. GM and other companies going bankrupt; they do not get ANY points for honesty. It is not enough to tell the truth eventually. You have to tell the truth to your investors in the time frame that matters. There will be a price to be paid for our government and courts allowing the small shareholders to be wiped out, while the bankers pulling the strings give themselves salary increases.


On Jul 05 12:21 PM J. Crighton wrote:

> Look at it this way: At least there's one company you can count on
> to honestly tell what their stock is worth.

Treasury Continues to Harpoon the Real Economy

Mr. Hughes - Thank you for a well-written, thoughtful article.

The U.S. auto manufacturers need pressure on them to re-tool for electric cars and hybrid cars. Left to their own devices, pressure from oil companies would maintain the status quo forever - guaranteeing more war and expensive wars, more death, more waste, more environmental poisoning. Only a great force would lead them to change direction. Is that the silver lining in this horrible market crash. Why doesn't NASA put a hold on the next space adventure and devote itself to a suitable electric car battery. Don't tell me they can't do it. Other countries are ahead of us in this regard, and GE , an American company, is funding them. What are Americans going to get from that? We deserve to know. The employees of auto companies need to be helped during a major transition, but a major transition there must be. And oil companies will need to have a plan in place for their employees to retrain and retool in coming years as the electric car is adopted. Also, we need to ask for government support to small investors who were crushed by the market manipulations engineered by the big investment banks and the Treasury. Such as SIPC reimbursements for up to $100,000 of losses for each small investor who has recently fallen victim of what you call " the largest coalition of organized crime in human history."