GM IPO: Go Ask Opel (Or Daewoo)
With news that GM’s IPO price could be headed as high as $33/share (only $10.67 more per share to taxpayer payback!), boosting the offering to some $12b, some might think that the decks have been cleared of skeptics. Not so. Though GM has emphasized its international flavor during its IPO pitch, it’s stayed away from the fact that its overseas operations haven’t been immune to trouble. Take Opel (please). Though invaluable as a development center for GM’s upscale global products, Opel is miles of bad road away from actual profitability. Just ask the guy who tried to buy Opel back when the General was trying to fire-sale its European operations.There is a lot of euphoria about the IPO, but if you dig into the numbers, they still have a problem in Europe. They are doing worse than when we looked at them two years ago, and it’s going to take a lot of cash to fix Opel. That’s my concern on the IPO.
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- Jeff S If AM went away I would listen to FM but since it is insignificant in the cost to the car and in an emergency broadcast it is good to have. I agree with some of the others its another way to collect money with a subscription. AM is most likely to go away in the future but I will use AM as long as its around.
- BEPLA I think it's cool the way it is.If I had the money, time and space - I'd buy it, clean it up, and just do enough to get it running properly.Then take it to Cars and Coffee and park it next to all the newer Mustangs.
- Dave M. I suppose Jethro’s farm report comes via AM, but there’s a ton of alternative ways to get that info. Move forward people. Progress is never easy.
- BEPLA For anything but the base model, I'd rather have a pre-owned Polestar 2.
- BEPLA "Quality is Job........well, it's someone's job, but it's not our job.Neither is building vehicles that people actually want or need.We only build what's most profitable. If only someone would buy our 97 day supply of SuperDutys."
Buy Buy Buy. This may very well be the hidden gem we've been waiting for. And right under our noses the whole time. When Big Brothers' watching over you threats can be kept at bay and good things are bound to happen. And Big Brother has deeeep pockets.
Keep an eye on just who buys these shares...I will wager 10 oz of gold that the Federal Reserve Commercial Banks are the big buyers...Money created out of thin air and handed to the commercial banks like they just did with $600B of government bonds.