Will GM’s Big IPO Actually Happen?

But isn’t it looking increasingly like the IPO is in trouble? I’m not a Wall Street expert, but I can read the papers. The IPO’s already been scaled back, apparently, to the point where taxpayers may not unload enough shares to put them under the 50 percent mark. The global economy is iffy. GM has just abruptly switched CEOs . Its balance sheet is “loaded with fluff,” according to Bloomberg. Its own IPO documents admit its “internal control over financial reporting are currently not effective.” UAW locals are restive. And its market share is now seemingly below the target level.

via Will GM’s Big IPO Actually Happen? – Newsweek.

I guess I am clueless as an investor. Managing my 401k to a 30% loss over the past couple of years clearly qualifies me as a clueless investor. But I can’t imagine why anyone would by Government Motors (GM) stock. The previous stock and bond holders were totally screwed over by the illegal and immoral “restructuring” of this looser company. Why would you want to take that kind of chance again? That aside, it seems like car companies have been crummy investments over the past decade anyway. Does anyone really think GM, especially with its amazingly bad press, is going to lead the way to an economic automaker resurgence?

Although they are loosing market share this year (down almost a full percentage point), I am depressed to find out that GM has 18% of the new car market in the U.S. We’re already being forced at gunpoint to buy a great many .gov products, why willingly pay good money for Government Motors cars that could instead go to an American company like Ford. Heck, even Toyota is more of an American company these days  than GM.

I will not be buying any GM stock for my 401k. Of course you knew that because I won’t be buying any GM cars for my garage either. Never ever, ever, ever, will I buy a Government Motors product again. Ever.

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