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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (200400)	5/5/2009 7:38:20 PM
From: DebtBomb	Respond to of 306849

Ohhhh....excuse me....2 cents....I'll give you my 2 cents.... ;-)

To: Jim McMannis who wrote (200400)	5/5/2009 7:40:20 PM
From: DebtBomb	Respond to of 306849

GM shares closed on Tuesday at $1.85 on the New York Stock Exchange. The stock would be worth just over 1 cent if the first phase of GM's restructuring moves forward as described. Once GM has issued new shares to pay off its debt to the U.S. government, bondholders and its major union, it said it would then undertake a 1-for-100 reverse stock split. Such a move would take the nominal value of the stock back to near where it had been before the flood of new shares. But in the process, GM's existing shareholders would see their stake in the 100-year-old automaker all but wiped out. finance.yahoo.com