Joined
·
156 Posts
From my understanding it's opening on both the TSX and new york tomorrow. Anyone know what the ticker will be when it's released?
Anyone thinking of buying in early?
Anyone thinking of buying in early?
TSX = GMMFrom my understanding it's opening on both the TSX and new york tomorrow. Anyone know what the ticker will be when it's released? Anyone thinking of buying in early?
I'm thinking this might be a $1000 buy sell in the day... But since I now realize it's past 4pm I can't sell the shares I was going to, so that I'd have some money to play with...TSX = GMM
NYSE = GM
Not buying. I rather add to my existing Ford shares.
Good luck!
I'm curious why you think so.I don't know how I can get in on the IPO price but even if I could, I wouldn't.
This isn't a growth company or a dividend paying company.
I doubt you'd get a chance at the IPO anyway , anything worthwhile or in vogue goes to the big boys first , the average joe has to buy in afterwards on the secondary market.I'm thinking this might be a $1000 buy sell in the day... But since I now realize it's past 4pm I can't sell the shares I was going to, so that I'd have some money to play with...
I believe in large dinosaur companies dying completely so that a new company can have a fresh start. I believe that company has too much baggage still with its labor force, pension plan liabilities and old school culture.I'm curious why you think so.
Do you think the IPo price of $33 is too high?
If you look at Ford, they have done phenomenally well since the recession.
GM is doing well these days, and in emerging markets as well.
What are your reasons for not liking it?
Everyone misses the fact that Ford practically mortgaged everything it owned, factories and all in order to not take the bailout money. In the end GM may be in a better position as they didn't have to pay back all of their previous debts.I would add that Ford has done very well indeed, but without taking any money from taxpayers and exactly what attracted me to the shares in the first place.
The restructuring of GM [or 'Government Motors' as K.O'Leary calls it]is also working thus far, but too early to predict future success and let's not forget the 50+ billion they owe the government.
It's worse...the entire proceeds of the pref. issue will be used to pay into the underfunded UAW pension plans.The biggest issue for me is that the company is going onto the market to get capital to pay down some debts... not expand the business.
But I think Ford had foresight in doing this and what they got for what they owned was great because if they had gone bankrupt, the value would have gone down tremendously and in some cases they may not have been able to get anything during the liquidity crisis. I'm only guessing here.Everyone misses the fact that Ford practically mortgaged everything it owned, factories and all in order to not take the bailout money. In the end GM may be in a better position as they didn't have to pay back all of their previous debts.
I personally think being still family owned (partially) may have something to do with it as well.But I think Ford had foresight in doing this and what they got for what they owned was great because if they had gone bankrupt, the value would have gone down tremendously and in some cases they may not have been able to get anything during the liquidity crisis. I'm only guessing here.
In addition, Ford can still sell itself now as the company that did not take tax payer's dollars.