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| User Info | GM Shareholders: POOF! in forum [Ticker] | |||
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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1010-G....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-05 22:00:28
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Dtlgc Posts: 430 Incept: 2007-11-26 
Texas
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Ouch....not gonna sit well... de-listing time?
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2009-05-05 22:08:39 by dtlgc
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Oh no, the reverse split will prevent that. Not that it matters. This is a ROYAL ****ing dicking, way, way worse than anything that would happen in a real bankruptcy. This is instant destruction of the capital structure and priority and makes Chrysler look like a ****ing cakewalk. Simply put, senior debt in the US is dead. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-05 22:09:58
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Sierraboy Posts: 1329 Incept: 2007-06-26
San Diego, CA
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How is this different than a regular reverse split? 100 shares at $1.85 becomes 1 share at $185?
2009-05-05 22:11:32
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Greenrebellion Posts: 429 Incept: 2009-01-03
Los Angeles
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Call me dumb but how come the senior holders just won't say no and take it to bankruptcy court. You said in the ticker that the administration would get their way anyway, but we don't know that. For now we presume the court system is still independent?
2009-05-05 22:12:48
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Patentleathershoes Posts: 7642 Incept: 2007-09-13 
Looking forward to PB&J time!
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Short the hole? I've always avoided doing this but after the first hour tomorrow, I might.
2009-05-05 22:13:02
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James56287 Posts: 645 Incept: 2008-07-28
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they're also doing a 99% dilution by issuing 60B or so new shares. At least thats my understanding.
---------- We're all in the market to steal from each other. The least we can do is behave like gentlemen while we're at it. Last modified:
2009-05-05 22:14:00 by james56287
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Goldie Posts: 244 Incept: 2008-08-02
North Carolina
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WOW!! This has got the be the most bullish news all year!!! ---------- Total destruction the only solution ~Real Situation by Bob Marley
2009-05-05 22:13:26
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Look at the impact on the debtholders and capital structure. This is really, really ****ing ugly. If you're a common holder you're dead. If you're a senior debtholder you're dead. If you're the UAW, you're fine. IF YOU HOLD DEBT IN ANY OTHER GOVERNMENT BAILED OUT FIRM, YOU HAVE GOT TO BE ****TING IN YOUR PANTS RIGHT ****ING NOW! ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-05 22:13:58
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Nobody Posts: 1057 Incept: 2007-11-26
Nowhere
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Is there still any commercial paper market to speak of?
2009-05-05 22:14:41
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55chevy Posts: 2943 Incept: 2008-03-13
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The Banks will Tank right now....
2009-05-05 22:15:52
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Musashi Posts: 2950 Incept: 2007-11-06 Behind the Irony Curtain
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Did you see all the conditions? If the gods smile then this corrupt administration and the UAW welfare queens end up in BK court and eventually with a big 7 tattooed on their forehead. http://zerohedge.blogspot.com/2009/05/gm....
2009-05-05 22:16:26
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Thinkb4urite Posts: 14 Incept: 2009-04-30
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I can't help but think these actions will have severe consequences. Bondholders of Chrysler and GM debt, as well as common stockholders, may vow to never buy American again after this drubbing. Even relatives, friends, spouses, offspring, etc. will not forget how their loved ones were taken to the cleaners compliments of the union & friends in low places. I seriously doubt that the auto industry reaches 9M units even with $4000 in cash for clunkers given this scenario.
2009-05-05 22:16:28
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Nobody Posts: 1057 Incept: 2007-11-26
Nowhere
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What are the odds the debtholders hold CDS issued by AIG?
2009-05-05 22:18:42
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Antone Posts: 3820 Incept: 2008-02-03
This ain't your grandpa's depression.
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Lol, it's going to be funny seeing all these banks try to raise private capital at the same time. Hmm, what else do you have to hold on to than 'green shoots', bulls? Then again, they'd say, trend of the market. Hmm, hopefully reality changes that soon. Well, before Opex would be a good start. I'm going to be very interested in seeing what the opening quote on GM is ~03:00 CT. ---------- Wir sind gefickt. I do not provide investing advice.
2009-05-05 22:19:58
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Hihoherewego Posts: 595 Incept: 2009-02-25
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UNPHUCKINBELIEVABLE.
2009-05-05 22:20:05
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Pensicostreet Posts: 719 Incept: 2007-06-26
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The United ASS WIPES (UAW) caused the demise of this company and look what happens.
2009-05-05 22:20:18
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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The Ticker has a direct link to the SEC filing. Its ****ing outrageous guys. Go read it. I went through the whole thing and picked out the important **** for you, but the rest is really good. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-05 22:21:30
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Goldie Posts: 244 Incept: 2008-08-02
North Carolina
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So what going to replace GM in the $DJI? My money is on the company that makes these..[****sandwich] ---------- Total destruction the only solution ~Real Situation by Bob Marley
2009-05-05 22:21:41
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Dashingdwl Posts: 4564 Incept: 2007-06-26
los angeles Online
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Senior debt holders don't get equity?
---------- Think Green Tip.
2009-05-05 22:22:12
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Yeah, they get 10 cents on the dollar Dashing. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-05 22:22:50
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Burtoby Posts: 521 Incept: 2007-10-28
Arlington,Tx
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AS GM goes, so goes the country.
---------- Tryin' to turn 6 figures into 7.
2009-05-05 22:23:19
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Dladuca17 Posts: 1242 Incept: 2008-08-17
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****ing socialism
2009-05-05 22:23:54
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Icecastle Posts: 692 Incept: 2008-10-15
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No doubt that senior debt is dead - but I wonder - will this effectively destroy private capital formation? Because in this instance, both debt and equity have been treated shabbily, thus increasing the risk in holding either. This would imply, would it not, that the predominant supplier of capital must be government, thus effecting government control of every part of the economy that depends on substantial capital formation. Which suggests that future growth prospects must be revised downward, and substantially so, I suppose. ---------- Mala tempora currunt. 
2009-05-05 22:24:14
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Coolhandluke Posts: 5637 Incept: 2007-12-19
Out of the box
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I have family that will take a hit on some GM bonds. Needless to say we will NOT be purchasing any cars or trucks produced buy the UAW. ---------- It's not that I'm lazy, I just don't give a **** anymore. Last modified:
2009-05-05 22:25:26 by coolhandluke
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