General Motors (GM) 01 (Jun 08 - Jul 10 )

[kennynah]

there goes my 1 share of gmgmq....

[helios]

this GM trade is a good experience.

i was staring at it for 3X fold earnings, yet i didn't do anything to sell into strength. this happened twice during the earlier periods. i wasn't concentrating then.

in the end, i need to cut loss at the last day of the bankruptcy.

well. things do happen.

[kennynah]

you were lucky to have even gotten out...it halted trading last Fri at 215pm their time... if you had delayed more...it would probably be $0 value...like what happened to my 1 share....

[millionairemind]

this GM trade is a good experience.

i was staring at it for 3X fold earnings, yet i didn't do anything to sell into strength. this happened twice during the earlier periods. i wasn't concentrating then.

in the end, i need to cut loss at the last day of the bankruptcy.

well. things do happen.

NVM lah, you got midas touch.. next one sure make it back plus more

[helios]

July 13 (Bloomberg) -- The fates of General Motors Co. and Chrysler Group LLC, hobbled by their histories, now rest with two outsiders with no auto experience. They may be the perfect guys for the job.

Ed Whitacre, 67, who as chairman and chief executive officer of AT&T Inc. assembled the world’s largest telecom company, became GM’s chairman on July 10. His counterpart is former Borden Chemical Inc. CEO and chairman Robert Kidder, 64, a turnaround specialist who assumed the chairmanship at Chrysler when it left court protection last month.

Source: Bloomberg.com

[kennynah]

i took this off from some website....about this guy who bought GM shares sometime ago...and wrote today...

I've already obtained my GM stock certificates, and I'm lining my birdcage with them. They fit perfectly.

[kennynah]

courtesy from tinpeng..

********


Motors Liquidation Company Investor FAQ Updated July 10, 2009
MOTORS LIQUIDATION COMPANY
INVESTOR FAQ
Q. What is Motors Liquidation Company? How does it relate to GM?
A. After it sold substantially all of its assets in the section 363 sale to General Motors Company
to create the “new GM,” General Motors Corporation was renamed “Motors Liquidation
Company.” For the operations, assets and liabilities that were not transferred to General
Motors Company,” the chapter 11 bankruptcy case will continue in order to resolve creditors’
claims and wind down those operations in an orderly way.
Q. I have noticed recent changes in the stock price and trading volume. What’s
happening?
A. Management continues to remind investors of its strong belief that there will be no value for
the common stockholders of Motors Liquidation Company in the bankruptcy liquidation
process, even under the most optimistic of scenarios. Stockholders of a company in chapter
11 generally receive value only if all claims of the company's secured and unsecured
creditors are fully satisfied. In this case, management strongly believes all such claims will
not be fully satisfied, leading to its conclusion that the common stock of Motors Liquidation
Company will have no value.
Q. I want to sell my remaining shares. How will the common stock be traded going
forward?
A. Since the common stock is not traded on the NYSE and soon be delisted, market makers
not affiliated with us may conduct limited trading on the Over-the-Counter Bulletin Board
(OTCBB) and/or the Pink Sheets even while we are involved in a liquidation process under
chapter 11. We will not be involved in initiating or supporting trading on the OTCBB or the
Pink Sheets. Management continues to remind investors of its strong belief that there will be
no value for the common stockholders of Motors Liquidation Company in the bankruptcy
liquidation process, even under the most optimistic of scenarios. You should contact your
broker for further information.
Q. What will happen to my current stock and bond holdings? Will I receive General
Motors Company stock?
A. All of the publicly owned stocks and bonds previously issued by General Motors Corporation
are still securities of that company, which has been renamed “Motors Liquidation Company,”
and will be treated in accordance with the provisions of the U.S. Bankruptcy Code and the
rulings of the Bankruptcy court. None of Motors Liquidation Company’s publicly owned
stocks or bonds (including the common stock that formerly traded on the NYSE under the
ticker “GM”) are or will become securities of General Motors Company, which is an
independent separate company.
Q. Why can't stockholders file claims with the court?
A. Stockholders do not receive a claim because they are owners of the company, not its
creditors. Generally in a bankruptcy, all secured and unsecured claims of creditors would
have to be fully satisfied first for stockholders to recover any value. Motors Liquidation
Company management strongly believes that this will not occur here, and that the common
stock will have no value.
Page 2 of 2
Motors Liquidation Company Investor FAQ Updated July 10, 2009
Q. How can bondholders and other unsecured creditors better understand the
bankruptcy process and status of the proceedings?
A. The office of the United States Trustee has appointed the statutory Unsecured Creditors
Committee (the “UCC”), which is charged with representing all unsecured creditors in the
proceedings (including unsecured bondholders). Questions for the UCC should be directed
to its attorneys, who can be reached at:
Kramer Levin Naftalis & Frankel LLP
1177 Avenue of the Americas
New York, New York 10036
Telephone: (212) 715-3275
Facsimile: (212) 715-8000
Thomas Moers Mayer
Kenneth H. Eckstein
Robert T. Schmidt
Adam C. Rogoff
Gordon Z. Novod
Q. Will I be receiving interest payments on my notes/bonds?
A. It is very unlikely that cash interest payments will be made on Motors Liquidation Company
securities. All parties, including bondholders, will be treated in accordance with the
provisions of the U.S. Bankruptcy Code and the rulings of the Bankruptcy court.
Q. What will happen to my “preferred shares”?
A. Motors Liquidation Company does not have any preferred stock, although many investors
mistakenly use that term to refer to several series of convertible debentures that the
company issued. These securities are actually series of unsecured bonds, and will be
treated similarly to other unsecured bonds in the court proceedings.
Q. Where can I go to get more information on the bankruptcy proceedings?
A. Additional information, including court documents, can be found on the bankruptcy court
docket at http://www.motorsliquidationdocket.com.
Q. Where can I go to get more information on Motors Liquidation Company?
A. Information may be found on the company’s website, http://www.motorsliquidation.com or by
calling 800-414-9603 or emailing [email protected].
Mailing address for Motors Liquidation Company Fulfillment Center:
Motors Liquidation Fulfillment Center
c/o AlixPartners, LLP
2100 McKinney Avenue, Suite 800
Dallas, Texas 75201
Q. Where can I find more information about General Motors Company?
A. Please refer to General Motors Company’s website, http://www.gm.com.

[kennynah]

wah liao eh...... i cannot believe my luck...

GMGMQ is now resumed trading under a new ticker MTLQQ and I can actually trade out my position for a ~9% profits...unbelievable...i tot this was a gonna liao...

and now MTLQQ is still 55 cents.... i am not going to short it...as i always believe when it is too obvious...something will sure screw up one...

[iam802]

Not all is lost.

Maybe the priest did something the other day.... must be the Tiger Beer