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GM Says It Straight and Simple: Shares Are Going to Zero

Posted on July 05, 2009

Footnoted points out that GM says it straight and simple in a latest SEC filing: Don't buy GM (GMGMQ.PK) shares, it is going to zero. GM management has noticed the continuing high trading volume in GM s common stock at prices in excess of $1. GM management continues to remind investors of its strong belief that there will be no value for the common stockholders 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 satisf...

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