The GM Investment Is Still Not Working

Posted: August 19, 2010 in Technology and Business
I really, really want to say kudos to GM for getting their act together.
But, truth is, I still feel the same way as I did last June when I wrote, "The GM Investment Won’t Work"… regardless of whether they are contemplating an IPO or not.
Need more proof?  We (the U.S. tax payer) were forced to invest in GM at what will be the equivalent of $141 per share. 
Think we’re ever going to see that price in our lifetime?
Not only would I not invest in that… but I wouldn’t even bet on it if I got odds.
Again, like my last blog post, nothing would please me more than to be wrong about this one.
P.S.  CNBC posed the question, "How much will a share of GM have to sell for for the U.S. to break-even?" during this morning’s show… I back-of-the-enveloped it at $140… so I’m feeling pretty damn pleased with myself right now. <smile>

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