Breaking News: US Government to own 60% of GM, Canada 12%. Details inside.

reply to post by GreenBicMan

Do you know what Germany Opel and Fiat are saying right now??

Am opening the scotch bottle this very second.

Peace...

reply to post by Breifne


Sorry, I didn't mean to minimize the importance of the GM news, I was just conveying the fact that it's not worth staying up for if that is all it is. We all already know that GM is going to file for bankruptcy tomorrow. I fail to see the point in an embargo that arbitrarily ends at 10PM tonight.

I completely agree with your points. It's a dark day for America, and we'll be paying for this government bailout for a long time, because I personally don't think GM can be profitable anytime soon.


[edit on 31-5-2009 by Soldat401]

reply to post by Gyrochiral


I dont know.. still rising though 8516 I will continually update

Originally posted by FrankWhite222

Originally posted by star in a jar
Maybe they can explain how people with 55 posts got 12,500 points.

two lines

I think you can get 10k by following ATS on Twitter or some such.

Oh I see

Well that answered my question

I agree with the others that It probably has something to do with GM.

As for UFOs or North Korea/Iran... Well they wouldn't dare, I think

Originally posted by liveandlearn
From Twitter

ActionCentralAP: Government to take 60 percent ownership stake in GM -sources

This looks like it is the news

That's been in the news for several days now, although last I heard it was 70 percent, so looks like the number has been revised, that's all.

8509 now..

little breather


real time DOW FUTURES

Ok, I guess it is about GM. Latest update from twitter:

RodrigoMxAP sources: General Motors to file bankruptcy; Government to take 60 percent ownership stake (here we go embargoed info...)

Source: twitter.com...

RodrigoMx is another editor for BreakingNewsOn, and works with mpoppel, the originator of the update that started this thread.

I'm kind of perplexed as to why this info was embargoed though, as this has been pretty much public knowledge for the past week. It's just that it's now official.

Most likely the embargo is from the GM announcement, esp since Canada has a news embargo too but they specify it's about GM.

Detroit is also reporting it

Perhaps President Obama has decided to announce that he has signed an executive order to reknew UFO Hunters?

The Wonder is over, subject of embargo confirmed.
twitter.com...

Not N. Korea

Aus Liebe zum Automobil

8514 @ 933 est

Whatever it is about GM, the market is liking it so far



futures real time

reply to post by liveandlearn



Replying to my own post... so how much more money are they now investing in GM. Is this in addition to what is already invested. According to CAFR1 the gov is already heavily invested in most major companies.

Probably in deferrence to his adoring masses, Obama will declare whether it's boxers or briefs.

To hold out until after 10:00 EST is to not shock the little old ladies who are in bed by then.

reply to post by redhatty


redH

why do you think they are doing this, this evening?

Perhaps they're just testing some new, anti-hack server technology, to see where/if leaks happen.

The beginning of the end...

Regarding GM, it will be 72.5% nationalised:

The U.S. Treasury would own 72.5 percent of the new GM coming out of a bankruptcy sale process while a trust affiliated with the United Auto Workers union would own 17.5 percent

Source

I don't see why they'd be an embargo on anything GM related.

Here we go jumping to conclusions....At best it'll be something on G.M sorry but i doubt they'll be anouncing a start of any war or Alien info.

I'm not saying they will not anounce anything at 10pm But no other networks CNN, HLN or Fox have not mentioned a thing on their banners.

reply to post by GreenBicMan


To announce that all trading on GM will be halted before market open, and make sure that all fund & shareholder cannot get even pennies back on their investment.

OR.....

All the MSM reports on the Bondholders agreement has been BS and it's gonna get real fugly real fast in BK Court

AP says Obama will announce GM ch.11 and $60 bn US investment.

Doesn't say when he'll announce, but he's going to Egypt, so it may as well be tonight, since electronic filing in the US Bkcy Ct in SDNY begins at 6 EDT.

$0.02
jw

Umm if this is good news why is the usd/swiss franc down almost 300 points?

Meaning ppl r selling usd and buying francs (currency backed by gold)
Euro and yen also up 60-70 pts...

pound up 100 pts agains usd

hmmm