GM selling out to China

It sure is good that our Pres bailed GM out so that he can sell out to China, so who pays the taxpayers back??
The classic bait and switch, Obama style.
I had already vowed to never buy GM again, now I know I wil NEVER buy another GM-China-Obama vehicle.
Linkage to China and Obama is a deal KILLER.
http://www.reuters.com/article/idUSWEN287720101110
China's SAIC close to GM IPO stake buy-sources
Nov 10 (Reuters) - General Motors Co [GM.UL] is in the final stage of talks to sell equity to long-time Chinese partner SAIC Motor Corp (600104.SS) in conjunction with its landmark initial public offering, two people familiar with the matter said.
The two government-funded automakers are currently finalizing how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC's ambitions to move beyond the China market, the sources said.
Any agreement between GM and SAIC would need Chinese government approval and could still fall apart, the sources cautioned.
One person familiar with the matter said previously that SAIC had initially reached out to GM to explore the prospect of taking a "single-digit" stake in GM. The size of SAIC's prospective investment was not known.
The final round of talks have been led by SAIC Vice Chairman Chen Hong and could conclude as soon as the weekend, that source said.
The sources were not authorized to speak with the media and declined to be named because the talks are private. Representatives for GM and SAIC declined to comment.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

LOL--purchase of a "single-digit stake" is a "buy-out"....
--



Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
On Fri, 12 Nov 2010 19:12:36 -0800, "PrecisionmachinisT"

I think the Chinese have at least a 2 digit stake in the US Treasury.
If they own the US Treasury, then they already own part of GM.
Thank You, Randy
Remove 333 from email address to reply.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
wrote:

Pretty much anyone can buy treasury bonds and publicly traded stocks.
Got any money ?
--



Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Randy wrote:

Hardly but - as you will. SAIC is GM's Chinese partner. They in fact, ARE GM in China.
--
John R. Carroll




Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
On Mon, 15 Nov 2010 18:59:33 -0800, "John R. Carroll"

I was guessing. I'm off a little.
US debt 13.7 trillion
China holds between 900 billion to 1 trillion depending on which web site you go by.
Puts them at 7.3%
Thank You, Randy
Remove 333 from email address to reply.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Randy wrote:

That's pretty modest but let me ask you something. What, exactly, did you expect? The US has been running huge trade deficits with China for years. Hundreds of billions of dollars. The Chinese have a truly huge pool of US dollar reserves to buy things with and some of what they have bought is our debt instruments. Every one of those saw bucks came right out of the pocket of some Walmart or Home Depot shopper and they are largely circulating, one way or another here in the US.
The amount of US Dollar reserves and debt under foriegn control becomes truly staggering when you include the Saudi's and other export driven economies. Where do you think the money ( on top of 401K and other retirement funds) came from to hyperinflate the real estate market before Goldman Sachs learned to create mortgage backed securities without the bother of an actual mortgage?
--
John R. Carroll



Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Oh dear. now the Chinese are following their bad investment choices, with more....
sucks to be them.
tschus pyotr
--
pyotr filipivich
We will drink no whiskey before its nine.
  Click to see the full signature.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
pyotr filipivich wrote:

Why? They could easily aquire brand and distribution cheaply and quickly. What, after all, is a few billion when you have trillions at your disposal? Taking GM through another rinse cycle in BK court would eliminate all but the holders of their debt...... SAIC could end up with the entire value of GM for what is essentially peanuts.
--
John R. Carroll




Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
-0800 typed in alt.machines.cnc the following:

Let me put it this way, I do not consider Government Motors Stock to be a good investment. Others no doubt disagree. Such as the Chinese Government, the Goldman Sachs, and those who believe that having the government take over of anything is bound to improve things.

    Could. Or they could suddenly have a massive turkey on their hands. In the words of Will Rogers, on how to make money in the stock market: "find a stock that you like and buy it. If it doesn't go up, don't buy it."

    Yep. And in few years, the interest payments the US makes on those bonds they hold, will be paying for the entire People Liberation Army. "Such a deal."

    Unfortunately, the Obama decided to wipe out the debt holders when he took over the company. Instead of being "first in line" as was the law, they got the shaft.

--
pyotr filipivich
We will drink no whiskey before its nine.
  Click to see the full signature.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
on Thu, 18 Nov 2010 20:48:46

Put your money where your mouth is and short sell it then, you arrogant fuck.

Cites, please....
Will Rodgers said "buy low sell high" ( which is a "long" position fwiw ) and that's all he said as far as I know

Wow..
And now maybe I should once again mention something about your seeing somebody about those little voices in your head ?
Or at least tell me who it is going to win the world series in 2012 ?

Cites, please..
--how many suppliers is it that got stiffed and or by how much ?

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
PrecisionmachinisT wrote:

There aren't any. The creditors ate it but senior debt got a chunk of the new company. OTOH, the Shiela Bair at the FDIC wiped WAMU's senior debt completely out. ZERO.
Peeeeeoter reminds me of a door knob or dirt. The guy is as intelligent as a box of rocks.
--
John R. Carroll

'Export Notice: This Document may contain Export-Controlled Technical
  Click to see the full signature.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
pyotr filipivich wrote:

"the Chinese Government" didn't aquire anything. You really are a moron, aren't you...........
--
John R. Carroll




Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
On Fri, 19 Nov 2010 00:52:54 -0800, pyotr filipivich

==============There are many motives for buying stock. Clearly you are a long term investor that expects growth and dividends. If you are a speculator, particularly if you are "investing" in options/derivities, or a broker intending to unload overpriced junk, then other considerations apply such as high volatility.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
F. George McDuffee wrote:

I can buy GM at the IPO price through a program they have extended. It's just a guess but I can probably get a twenty percent return in a week. That's Tony Soprano territory and has nothing to do with the underlying value of GM equity or anything else.
--
John R. Carroll




Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Polytechforum.com is a website by engineers for engineers. It is not affiliated with any of manufacturers or vendors discussed here. All logos and trade names are the property of their respective owners.