Trading post-bankruptcy bounces Message Board

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Microcap & Penny Stocks : Trading post-bankruptcy bounces

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To: RockyBalboa who wrote (83)	7/6/2009 8:40:21 AM
From: RockyBalboa	of 93

More GM: Assets that GM does not sell to the new company will become part of the separate "old GM," which the company said Monday will be known as Motors Liquidation Co., and will be sold to the highest bidder under court supervision. The old GM will include a smattering of properties, several of which are facilities already slated to be closed. Other assets to be filed under the old GM include brands like Hummer, Saturn and Saab, for which GM has lined up buyers. They also include all current GM common stock, which -- despite its active trading on over-the-counter markets -- will soon be worthless. The old GM will remain an entity until all of the facilities are sold off, a process that could take months or years to complete. The government has said it plans to provide about $1.18 billion to fund the wind-down process.

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