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  • #1

    GM & Socialism

    General Motors Files for IPO; Says Buh-Bye to Socialism
    http://www.autoguide.com/auto-news/2010/08/general-motors-files-for-ipo-says-buh-bye-to-socialism.html
    General Motors has just announced the filing of papers with the Securities and Exchange Commission for an Initial Public Offering (IPO) that will see the company handed back over to investors and removed from government control.Including in the filing are plans for preferred stock that carries with it both debt and equity and also has priority in a bankruptcy situation.According to a Bloomberg report, GM hopes to generate $16 billion by the IPO, selling off roughly a fifth of the stock currently owned by the U.S.Treasury.This would then make the government a minority shareholder in General Motors and is likely to be followed by continued sell-offs until GM is entirely out of government hands.


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  • #2
    Re: GM & Socialism

    I read that yesterday, was interesting indeed
    TRADED IN BUT NEVER FORGOTTEN: 2006 GT Coupe in granite metallic, 15/5% tint, vinyl side marker deletes, Doctor Speed Stage 3 CAI, RED calipers by DupliColor, RED LED interior lights, 45 LED tail lights, WideView 8000K HID coversion kit, Nokya Artic White fogs installed, running MoBil 1, FIRST ever granite metallic color matched headlights!! Color matched eyelids just finished! GT-R Exhaust installed. R1 Concepts drilled and slotted zinc plated front rotors.

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    • #3
      Re: GM & Socialism

      Good to see. Don't need anympore government control. I just hope GM still has a fire under their asses so they don't get into the same situation again. Looks like they've paid back 1/5th of the money from the government. 6.7billion in around a years time isnt bad.

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      • #4
        Re: GM & Socialism

        ^exactly and it seems like they're finally heading in the right direction but they've got a ways to go still
        TRADED IN BUT NEVER FORGOTTEN: 2006 GT Coupe in granite metallic, 15/5% tint, vinyl side marker deletes, Doctor Speed Stage 3 CAI, RED calipers by DupliColor, RED LED interior lights, 45 LED tail lights, WideView 8000K HID coversion kit, Nokya Artic White fogs installed, running MoBil 1, FIRST ever granite metallic color matched headlights!! Color matched eyelids just finished! GT-R Exhaust installed. R1 Concepts drilled and slotted zinc plated front rotors.

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        • #5
          Re: GM & Socialism

          Originally posted by LoJac963 View Post
          ^exactly and it seems like they're finally heading in the right direction but they've got a ways to go still
          I personally feel a GM without Pontiac is hardly headed in the right direction...
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          • #6
            Re: GM & Socialism

            Originally posted by ragingfish View Post
            I personally feel a GM without Pontiac is hardly headed in the right direction...
            I understand and couldn't agree more. It still pisses me off to this day they firebombed Pontiac...........
            TRADED IN BUT NEVER FORGOTTEN: 2006 GT Coupe in granite metallic, 15/5% tint, vinyl side marker deletes, Doctor Speed Stage 3 CAI, RED calipers by DupliColor, RED LED interior lights, 45 LED tail lights, WideView 8000K HID coversion kit, Nokya Artic White fogs installed, running MoBil 1, FIRST ever granite metallic color matched headlights!! Color matched eyelids just finished! GT-R Exhaust installed. R1 Concepts drilled and slotted zinc plated front rotors.

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            • #7
              Re: GM & Socialism

              GM is a bankrupted company. The new GM had to concentrate on being financially viable so that meant to keep the brands that were making money and shred the ones that were bleeding red ink. So Pontiac along with the other divisions had to go. This allowed GM to return to profitability. Granted, without Pontiac, the new GM is without a soul. I would agree that making Pontiac into a niche brand would be a better choice but when it comes to economics and politics, there is no place for emotions. This is as much capitalism as it is socialism. The government wants to save jobs, and the taxpayers want their bail-out money returned eventually. At that time, that's all that matters.

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              • #8
                Re: GM & Socialism

                Two things:

                if someone had the money to buy the Pontiac name and revive it into a niche brand as mentioned I think it would be very lucrative (sp?)

                other thing-has anyone noticed on the new GM warranty commercials they have removed all the other brands of GM BUT the pontiac dart is still with the remaining brands?!?!?
                TRADED IN BUT NEVER FORGOTTEN: 2006 GT Coupe in granite metallic, 15/5% tint, vinyl side marker deletes, Doctor Speed Stage 3 CAI, RED calipers by DupliColor, RED LED interior lights, 45 LED tail lights, WideView 8000K HID coversion kit, Nokya Artic White fogs installed, running MoBil 1, FIRST ever granite metallic color matched headlights!! Color matched eyelids just finished! GT-R Exhaust installed. R1 Concepts drilled and slotted zinc plated front rotors.

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                • #9
                  Re: GM & Socialism

                  The Pontiac brand is not for sale which in a way it's good. We can then hope that when GM gets back on its own two feet they will do the right thing and revive Pontiac. Pontiac still have a strong following and most of them do not want to migrate to GM's other boring divisions. The Solstice, the G6, and the G8 are some of GM's best models.

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                  • #10
                    Re: GM & Socialism

                    Originally posted by mrslcom View Post
                    The Pontiac brand is not for sale which in a way it's good. We can then hope that when GM gets back on its own two feet they will do the right thing and revive Pontiac. Pontiac still have a strong following and most of them do not want to migrate to GM's other boring divisions. The Solstice, the G6, and the G8 are some of GM's best models.
                    I didn't realize it wasn't for sale, with that being said its almost a sure thing GM will come back with the brand then years down the road. They've done that same crap with multiple vehicles over the years
                    TRADED IN BUT NEVER FORGOTTEN: 2006 GT Coupe in granite metallic, 15/5% tint, vinyl side marker deletes, Doctor Speed Stage 3 CAI, RED calipers by DupliColor, RED LED interior lights, 45 LED tail lights, WideView 8000K HID coversion kit, Nokya Artic White fogs installed, running MoBil 1, FIRST ever granite metallic color matched headlights!! Color matched eyelids just finished! GT-R Exhaust installed. R1 Concepts drilled and slotted zinc plated front rotors.

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                    • #11
                      Re: GM & Socialism

                      As much as I hate what GM did. I do think they'll make their comeback and I'm pretty confident we'll see Pontiac come back.

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                      • #12
                        Re: GM & Socialism

                        I just heard about this on the radio, NO MORE OBAMA MOTORS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! wonder what obama will try to take over next, Toys r Us?

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                        • #13
                          Re: GM & Socialism

                          Originally posted by WS6 RACING View Post
                          I just heard about this on the radio, NO MORE OBAMA MOTORS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! wonder what obama will try to take over next, Toys r Us?
                          Funny I thought it was GM asking for the bailout not Obama forcing them to loose billions of dollars because of lackluster sales.
                          Last edited by Metalhead852; 11-04-2010, 10:16 PM.

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