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iamnathan 9 posts  |  Last Activity: Mar 12, 2015 2:34 PM Member since: Dec 16, 1999
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  • Reply to

    Inquired with Saskatoon

    by rehdvm2004 Dec 13, 2014 9:58 AM
    iamnathan iamnathan Jan 6, 2015 8:32 PM Flag

    On December 13, you wrote that you had asked the Saskatchewan Government in Saskatoon if they could comment on the territorial Environmental Impact Study any time soon.
    You didn't say whether they had answered you.

    On Dec. 17, you wrote that you were thinking of telephoning them.
    That was 3 weeks ago, have you made any progress ?


  • The trust set up to pay back "old" GM's unsecured creditors had $835.9 million at the end of 2014, an increase from the third quarter.

    In a Thursday filing with U.S. Bankruptcy Court in Manhattan, the trust reported an increase in the "fair value" of GM's holdings, plus fewer distributions during the quarter. The trust held $905.4 million in assets at the end of the year, compared with $1.07 billion at the end of September 2014. But because only $6 million in assets were distributed, liabilities were much lower, and thus the trust has more money to distribute.

    The trust has taken on added significance recently, with customers affected by the General Motors Co.(GM) ignition- switch recall seeking money from either the old version of GM, the new company or both.

    In 2009, the auto maker's healthy assets were sold to a government-backed entity, forming the new GM. As part of GM's bankruptcy plan, burdensome liabilities were left with the old GM.

    The new GM has argued that the so-called "economic-loss" victims can only seek money from the creditor trust, which was left with the old GM in bankruptcy. The trust disagrees.

  • iamnathan iamnathan Feb 12, 2015 3:22 PM Flag

    The fight has spilled back into bankruptcy court, where Judge Robert Gerber is being asked to determine which GM entity should be held responsible. A hearing in front of Judge Gerber is set for next week.

    The new GM says it discarded its lawsuit liabilities when Judge Gerber approved the sale of the company to the U.S. government. However, the economic-loss victims argue that General Motors(GM) ought to compensate them for things like loss of car value--in spite of the bankruptcy release--because they weren't informed of the problem by GM before the bankruptcy and weren't given the opportunity to participate in the case.

    These lawsuits are separate from those about injuries or deaths linked to the ignition-switch defect. More than 30 people have died due to the issue. GM has set aside at least $400 million to compensate those injured or the families of those killed in crashes related to the ignition switch problem.

    The U.S. government sold its last shares of GM in late 2013, around the time GM's shares reached a high of more than $ 41. The stock dropped to less than $30 a share as the ignition-switch problem widened but has since rebounded. It now trades slightly above $38.

    (Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection.)

    (END) Dow Jones Newswires

  • I wonder if they lift the shield, will the burden of the claims be shifted onto "New GM"?
    That may leave some remaining funds in this trust to be paid for the remaining GM Bonholders who were skrewed over by GM, the Unions, major shareholders and the Federal Governemnt?

    = = = = = = = = =

    Judge Weighs GM Bankruptcy Shield -- Market Talk

    DOW JONES & COMPANY, INC. 3:20 PM ET 2/17/2015
    2320 GMT [Dow Jones] U.S. Bankruptcy Judge Robert Gerber during a hearing on Tuesday expressed concerns over whether GM should be allowed to keep a shield blocking legal claims by some customers seeking damages over a defective ignition switch. He previously approved the shield as part of auto maker's 2009 government-brokered sale to U.S. Treasury. The shield prevents customers from suing for compensation for declining resale values and injuries tied to older GM compact cars that were equipped with the defective ignition switch. Arguments set to continue Wednesday.

  • Reply to

    Anyone here have FTR service?

    by jimcalp88 Feb 24, 2015 2:36 PM
    iamnathan iamnathan Feb 24, 2015 3:22 PM Flag

    They are going to buy the territory my service is in from VZ.
    VZ is doing exactly what the FCC said they wouldn't let the big tel-co's to do - Cherry Picking the areas they want to keep !
    FYI, I had VZ repair out 4 times since mid December due to grounding on my dial-tone and DSL line.
    4 Times !
    They refused to expedite the trouble tickets on the 2nd. 3rd and 4th repairs.
    They do this on purpose, because in So. Cal., a trouble that is caused by moisture will probably be gone when they finally show up 3 days after the rain created the problem!
    They are letting their old copper facilities and plant fall apart so people like me might move services onto their more expensive FIOS services.
    They're betting that you'll move to the higher priced services in an effort to get reliable service and faster data speeds.

    I know, I worked for General Telephone, GTE, Verizon for 30 years.
    I didn't do chitty work like these guys when I was outside, although in 1997, when I transferred into the Camarillo yard, the management wanted you to get in and get out as quickly as possible.
    They wanted us to cut the time we spent on our orders and repairs.
    They didn't really care that much about good service!
    Now it's even worse then it was back then ! !

    I retired in 2006 at the age of 49.
    I couldn't stand working for a company that was providing less service, and had so many lazy, incompetent flakes in management!

    Have you tried filing a complaint with the PUC?

    Sentiment: Strong Buy

  • I haven't found a reason yet, although it has gone up too high and too fast in the past 4 to 6 weeks.

    Maybe it's a bit of a correction being that the SP was only $6.68 on Jan. 28th.


  • Reply to

    buying arun

    by havensomefun Feb 25, 2015 3:21 PM
    iamnathan iamnathan Feb 25, 2015 3:31 PM Flag

    I wonder how that will fit into their business model? WIll it enhance their income ?

  • I have waited way to long, and why hang on longer with the hope that car sales will ramp up even more than it has ?

  • Since there hasn't been any activity here and the price of MTLQU has dropped near historic lows, I assume that it has no value.
    I finally sold all of my GM realted shares, options and MTLQU this week in only my taxable account.
    I still hold them all in my IRA, but I wonder if I should dump MTLQU ?

    Maybe the wind will give me an opinion ?

    Sentiment: Strong Buy