GM - General Motors Message Board

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Non-Tech : GM - General Motors

GM 68.36

-1.1%

9:30 AM EST

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From: Arthur Tang	6/7/2009 2:11:23 PM
	of 543

Thanks for the info. However, government is still managing GM's action in bankruptcy; because it now sounded like US government is the buyer. They can protect stockholders, if they wish. Plants open or close, sales, etc. Each congress member is twisting GM management's arm. So, simple bankruptcy is not going to be the same. Besides GM knows how to squeeze the government for more money. On the other hand, chapter 11 needs to make money to get out. Continued lack of sales will turn it into chapter 7. No amount of bail out money is enough to turn the company into profitable without cars to sell? Sad but true, but there is hope. If GM management wants to let previous stockholders have some say in the government owned company. GM can buy back 60% of their issued stock for pennies a share and sell them to the US government, pay all the bills agreed on and exit chapter 11, nice and easy.

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