GM announced this week they have an IPO on the shelf. I urge you NOT to partake in this utter travesty. Let me make this clear…I hate GM with a passion after what they did last year. There is no difference between what GM did back when it entered bankruptcy to you or me breaking into an old Ladies house and stealing everything she owns. Really, I’m serious, General obaMa decided to screw ALL Bondholders which historically are supposed to be at the TOP of the Capital structure. Miraculously, when our President got involved, those “Fat-cat, rich bond-holders” (i.e. widowed old ladies living off a fixed income from their bonds they have held for 15 years), were deemed worthy of losing all their money. Yep, so that LOL (little old lady) lost all her $$$, because our LEGAL system was hijacked by a hidden agenda that voted in favor of the UAW pensions and healthcare benefits for former employees. I was appalled to see that the LAW was not upheld for the General Motors….never has this happened before….unfortunately I can’t say it will be the last time either. So that IPO being flung to the public is 18% owned by the UAW…and that LOL….well hopefully she can still afford those med’s….thanks General
Too say I will NEVER buy a GM vehicle EVER AGAIN is an understatement….
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