So the government has decided to at least partially sell off its interests in GM. It announced it will sell 200 million of the 500 million shares it owns at a price of $27.50 per share. It initially invested $49 billion in the company and with the sale will have recouped about $34 billion. Whether […]
Posts Tagged ‘gm’
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What Your Tax Dollars Are Accomplishing
Posted by Tom Lindmark on August 18th, 2010
Some interesting dots worth connecting. First, from the WSJ on GM’s contribution to employment: But GM is failing to do what President Obama perhaps needs most: Hire droves of U.S. workers. According to the automaker’s second quarter earnings release this morning, GM added only 2,000 employees to its North American workforce since the start of […]
Behind GM’s Decision To Build Its Small Car In Michigan
Posted by Tom Lindmark on July 5th, 2009
There’s an interesting story in the WSJ concerning GM’s decision to build its new small car in Michigan as opposed to Tennessee, Wisconsin or overseas. All of those places were in the running for the business. This is of more than passing interest, since you and I are heavily invested in this company and would, […]
The Government Says It Will Walk Out On GM If Deadlines Aren’t Met
Posted by Tom Lindmark on July 1st, 2009
This certainly has to qualify as the most obvious empty threat of the year — at least so far this year. From Fox, auto task force member, Harry Wilson, testifying in the GM bankruptcy hearing that the government does have a drop dead date for concluding the sale of GM to “New GM”. “We cannot […]
Toyota Set To Become Top Dog In The U.S.
Posted by Tom Lindmark on June 20th, 2009
Depending upon your philosophical bent, this is either good news or another sign that the Apocalypse is near. The WSJ is reporting that Toyota is slated to take over the title as the number 1 seller of light vehicles in the U.S. The bankruptcies of General Motors and Chrysler are changing the landscape of the […]
Winners And Losers In The GM Bankruptcy
Posted by Tom Lindmark on June 8th, 2009
Here is one of those trades that will set some people’s teeth to gnashing. A couple savy investor types made a bundle speculating on GM bonds and bank loans. From Bloomberg: Investors that bought General Motors Corp. loans and speculated on declines in its bonds may be in line for “one of the greatest payoffs in the […]
Ford’s Impossible Task
Posted by Tom Lindmark on June 7th, 2009
The WSJ has one of those “Duh” articles this evening that suggests that Ford may face tough going against two federally funded auto manufacturers. Ya think? I’ve written about this many times over the past month. Ford is probably a goner as well, either by dint of circumstance or because there truly is a plan […]
