GM Exits Bankruptcy
General Motors completed an unusually quick exit from bankruptcy protection on Friday with ambitions of making money and building cars people are eager to buy.
This must be somehow different from their ambitions prior to bankruptcy — apparently they were trying to lose money and build cars that no one wanted. And from we can tell, they were doing a fine job of both.
And, IIRC, the ‘new’ GM is still 61% owned by the government.
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From Twitter: @JoeSaluzzi $GMGMQ been halted since 14:09. How could they have allowed this stock to trade today? Lots of bagholders going to be very angry.
In my opinion, this stock shouldn’t have been trading at all for the past 40-odd days. And if somebody gets burned, well, they shouldn’t be playing with fire.
Comment by BMB — 7/10/2009 @ 2:02 pm
I read that the CEO vowed the new GM would do better. Yes, well, dude. It would be difficult to do worse.
Comment by Maria — 7/10/2009 @ 2:51 pm