And apparently has no plans to for the next several years.
GM is a socialist organization set up for the exclusive benefit of the UAW members, current and retired.
I dumped my shares today.
I like Jeeps better anyway.
Don't forget the Postal Service.GM, Fannie Mae and Freddie Mac and the Post Office all belong together. Shareholders better not hold their breath waiting for dividends..The new GM thinks companies exist
only to create jobs, not shareholder value.
Why would anyone buy
GM stock? Contribute to a charity.
<<<<<LOL. Should I come to the dark side? Does that mean shorting GM? I probably won't do that.>>>>>
Don't mistake me for a short.
I came here to be a long when it was still OLD GM; just that once I did my DD on GM there was no way I was going to buy the stock. The bridge was out and disaster was imminent. All I could do was warn other drivers.
LOL. Should I come to the dark side? Does that mean shorting GM? I probably won't do that.
I will, however, likely re-deploy my money in a business that actually returns value to its shareholders. XOM comes to mind as one of my favorites. They actually pay a dividend and have a stock buyback program. Imagine that.
<<<<Good questions. I don't think GM is a "real" company at this point, and is acting irrationally. GM is a zombie company, along the lines of Fannie Mae, because of the union and the govt.>>>>
I AM YOUR FATHER, LUKE.
GM IS doing something for the shareholders, they are ripping them off.
Labor and mgt believe all of the profits belong to them. GM-no dividends. Since the stock holders own the company at least 40% of the profits should go to the stock holders as dividends. Labor and mgt are ripping us off with their big demands of salary and benefits.
Stock holders wake up. Don't continue letting labor and mgt get the gold mine and you get the shaft.
"And apparently has no plans to for the next several years."
I admire your optimism. At least you think GM will be around for at least several years.
GM mgt and labor believe all of the profit belongs to them. The common stock holders supposedly own the company. The share holders should always get at least 40% of all profits.
Since BO and the gov't bailed the company out of this is no longer true. I fear this attitude of the gov't will spill over to all companies.
It is time for stock holders to revolt. Labor and mgt deserves only a fair wage. Their benefits should be tied to profits. Profits belong to the share holders.
How much of the profit in dividends is the share holder getting?
Shame, shame, and shame.
It's time for stock holders to revolt? No, they had ample opportunity to simply not participate when the new shares were offered for sale.
I don't pity the current stockholders in the slightest. They had more than enough information to know to avoid this stock like the plague.
After that Bloomberg article came out, I realized that it was going to be a long time before GM is going to return any value to the shareholders.
The UAW, along with the govt, have this "company" by the throat, and will not let GM enrich the shareholders.
The first priority seems to be the pension fund. That's $35 Billion. Next is likely a wage increase for current workers, which will reduce profits.
A double dip recession will not help either. When GDP goes negative, GM stock will tank even more than it has already.
If and when all of these headwinds get resolved, I may look at GM again, but until then, as the Sharks would say, "I'm out."