GM filling for chapter 11 on monday

[fasternyou929]

Originally Posted by Homeslice

So I know GM and Chrysler are going to get de-listed from the Dow, but is there still an opportunity to buy stock? Or do people have to wait until a "new" entity and ticker symbol are created?

The new owners have sent out tender requests to people that already own the stock. If you don't already have it, I'd avoid it like the plague, as it's likely to head to $0 at a high rate of speed.

[Homeslice]

Originally Posted by fasternyou929

The new owners have sent out tender requests to people that already own the stock. If you don't already have it, I'd avoid it like the plague, as it's likely to head to $0 at a high rate of speed.

right but I meant the "new" company, whatever it's going to be called. Would it be launched as an IPO, or who would get access to the shares?

[101lifts2]

I have 100 GM stock options.

[fasternyou929]

Originally Posted by Homeslice

right but I meant the "new" company, whatever it's going to be called. Would it be launched as an IPO, or who would get access to the shares?

Not sure, but I'd guess there will be a release of stock under a new symbol available to everyone, unlike an IPO.

The papers here in Japan are saying the new GM is Government Motors.

[101lifts2]

Originally Posted by fasternyou929

Not sure, but I'd guess there will be a release of stock under a new symbol available to everyone, unlike an IPO.

The papers here in Japan are saying the new GM is Government Motors.

We have been saying that since Bush gave GM 5 Billion. lol