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As of 10 am this morning, General Motors stock was trading at about 80 cents. If you think that is a bit of a bargain, you may be a bit of crazy. With The General apparently almost finished with bankruptcy, there is near certainty that the company's common stock will mean exactly nothing in a manner of days or weeks.

GM is warning investors that the stock grab is a bad idea, releasing a statement reiterating its "strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios."

With GM common stock scheduled for oblivion in the near future, it seems likely that any money spent on stock in the struggling company would be more useful as kindling for a bonfire. Since the new GM will be owned by the federal government, unions and shareholders, the stock-buying public likely won't have an opportunity to buy in for months - or more likely, years.

[Source: Detroit News | Image: Scripophily Trader]

REPORT: Despite having no real value, investors continue to trade GM stock originally appeared on Autoblog on Thu, 02 Jul 2009 14:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcycommon stockCommonStockgeneral motorsGeneralMotorsgm stockGmStockThu, 02 Jul 2009 14:01:00 EST<![CDATA[Ford to offer 300 million shares of common stock]]>http://www.autoblog.com/2009/05/12/ford-to-offer-300-million-shares-of-common-stock/http://www.autoblog.com/2009/05/12/ford-to-offer-300-million-shares-of-common-stock/http://www.autoblog.com/2009/05/12/ford-to-offer-300-million-shares-of-common-stock/#commentsFiled under: ,



Right now, cash is king in the automotive world, and Ford Motor Company is looking to raise some serious greenbacks with 300 million shares of common stock. The money will be used to fund automotive operations, with a portion of the payments Ford is required to make to the Voluntary Employee Beneficiary Association (VEBA) retiree health care fund with the UAW.

At the close of trading on Monday, Ford stock was worth $6.08 per share, and the stock sale should net somewhere close to $1.8 billion, depending on future share fluctuations. That's low by historic standards, but nearly five times what it was worth in November, when the size and scope of the recession and automotive slump was being realized. Since that time, Ford has emerged as the one Detroit automaker that didn't need government funding. The Blue Oval has also increased market share in six of the past seven months, something the Dearborn, MI-based automaker hasn't done in years. The common share sale will be handled jointly by Citi, Goldman, Sachs & Co., J.P. Morgan and Morgan Stanley. Hit the jump to pour over Ford's press release.

[Source: Ford | Image Source: Bill Pugliano/Getty]

Continue reading Ford to offer 300 million shares of common stock

Ford to offer 300 million shares of common stock originally appeared on Autoblog on Tue, 12 May 2009 08:01:00 EST. Please see our terms for use of feeds.

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