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  • webuchadnezzar_reva webuchadnezzar_reva Apr 11, 2011 10:37 PM Flag

    GM Should buy governemtn shares

    <<<<Let Gov. motors be auditted and publicize the results.>>>>

    They already ARE audited.

    Every time they file an SEC quarterly or annual report they have an outside accounting firm testify to the numbers. The accounting firm that does this are called the independent auditors.

    If you've read enough of these things, you start to recognize the weasel wording they use when they want to make a not-quite-a-lie-but-not-quite-true kind of statement. This goes for press releases, even moreso.

    When something is great, you just say 'it is great', right?

    But when it's not great at all -- in fact, when it totally sucks -- what can you say? You can't say it sucks, right?

    What GM will say is, it is 'poised to be' great.

    Do a google search of

    +GM "poised to"'s an eye-opener


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    • Almost $2billion pocket change.

      Upon completion of the offering, GM HoldCo will no longer own any shares of Ally's Series A Preferred Stock and will no longer receive dividends on its investment in Ally's Series A Preferred Stock, which accrued dividends at 10.0% per annum. The sale of the Series A Preferred Stock will result in a book gain of $0.3 billion to be recorded in the first quarter of 2011.

      GM expects to record a gain of approximately $1.6 billion in the first quarter of 2011. The proceeds will improve GM's liquidity and be used for general corporate purposes

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