Bankrupcy filing, look at 363 reorganization. The union was owed $20B and received $9B in new bonds and pfd stock [paying 9%] plus 420m shares in the new GM.
The UAW V trust has a $28 per share basis on the 420m shares they were given. This is where the taxpayers money went
3 for 1 split @ 120
Sentiment: Strong Buy
taxpayer money went into retires' health plan. $4B PROFIT SO FAR.
Stock buyback , increase dividends, increase sales, increase earnings, is there no end?
And again Tues.?
Sentiment: Strong Sell
Look for a downdraft before earnings. Who thinks the results will be good enough?
Jump pass $25 plus, before it falls on Friday.
The two-tired wages is here to stay. The old timers will not take a pay cut.