Not Again!

- As a business school student, we were told that the stock value of a company was underwritten by the value of the capitol assets owned by the Company. Stock holders were the secured creditors of a company and even through bankruptcy, they would have something of value left as the company was dissolved. Tell that to my GM Stock! Last year my stock went in the toilet as the Government loaned GM 50 Billion Dollars of our money. According to the books, at that time, GM was worth about 90 Billion and that would have left the stockholders about 40 Billion dollars as their share of the company going broke.

No, somehow as a stock holder I was told my stock is not worth anything and I was to tuck my tail and go away. Now, GM is offering a new Stock offering that expects the shares to be worth somewhere between $25 and $35 a share. Do you want to know what it is worth to me? Nothing! Nada, Zip, Zilch. Never again will I invest as much as one dollar in GM. Hell, I'll buy lottery tickets but not one penny on GM stock. The good news is that I only had a grand total of 14 shares and 7 of that due to a stock split. It wasn't going to be the basis of my retirement funds, only a symbol of my ownership of a part of the Corporation I once worked for.

The weatherman has predicted that we might get a coating of snow today. They say the ground is too warm for it to last and the temperature might get into the mid 40's. It was nice to get some rain last Friday and it wouldn't hurt for us to get moisture in any form.

Have a great day out there.



  1. MUD, the whole GM mess has been one of the biggest rip-offs in modern corporate history.

    I have a cousin that lost many tens of thousands of dollars in GM bonds. Of course, it was a risk he took, and he's not bitter. But, MUCH of the public is sour on GM now...ain't that a helluva deal? Sour on something we own. Well, technically we don't own it, but the whole deal stunk from the start.

  2. If it is any consolation at all, Zero Hedge has valued GM stock at ZERO. No, really. They said ZERO.

    Also, the Chevy Volt received "Car of the Year" and General Electric is going to buy 20,000 of them. By the way, GE is buying them with federal bailout money.

    Have a nice day!