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Shares in “General Motors,” the company says, are worthless. But many investors apparently have missed the message.

 

G.M.’s stock, which now represents the company’s bankruptcy estate, continued an improbable rise in price on Friday, prompting concern by company officials and securities regulators that investors are confused.

 

The stock, which trades under the ticker symbol GMGMQ, gained as much as 43 percent on Friday, after G.M. announced that it had completed the sale of its assets to an entirely new company. Nearly 75 million shares traded hands until the securities industry’s self-regulator, Finra, halted trading at 2:09 p.m., citing “extraordinary events.”

 

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if she draws a paycheck from the school I think her kids also get to free-ride there, correct?

or do they have to pay like everyone else?

 

There is no free ride, at least not anymore. I think there is an admission preference for employees.

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jorma, that 'news from 1930' site is awesome, thanks. another way to search for fartcals.

 

In the news today both the University of California and California State University systems are announcing both wage cuts and also lowering the number of students they will accept. No word on if they are going to root out all the money wasting and cronyism that is endemic to both systems.

my neighbors in my old hometown of davis, an old fashioned college town, have been claiming immunity to the real estate downturn. and prices have fallen much less than in most places (local growth control laws have kept a tight lid on housing supply, and preventing the town from becoming vacaville or fairfield). with state workers who commute to sacramento as well as all the university workers looking at paycuts, furloughs, and layoffs, i wonder if they still think home prices are gonna stay high.

 

sf giants pitcher jonathan sanchez hurls no-hitter tonight. happy happy joy joy

 

that sears xmas campaign reminded me of this guy:

[flash=425,344]http://www.youtube.com/watch?v=fO9XC3tAbkQ.swf

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and this:

SEC calls for Calif. IOUs treated as securities

"The recipients of billions of dollars in IOUs being issued by California soon may be able to sell them on a regulated market, following action taken Thursday by federal regulators." http://www.sfgate.com/cgi-bin/article.cgi?.../f111915D34.DTL

 

Looks like another windfall for banksters in trading and discounting these securities.

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Thinking about bellwether indicators...

 

The discount to face at which the Californian IOUs trade, might set the tone for the rest of the year.

 

Just a guess though.

 

Edit: Got distrust?

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Looks like another windfall for banksters in trading and discounting these securities.

Hey .. making a merkit is a public service, right? Helping small businesses cash out their IOUs, and helping total morans go dong Arnie.

 

Wait a sec.. what do you hedge a Californian IOU with?

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Wait a sec.. what do you hedge a Californian IOU with?

 

That one's easy, you use a method known as "financial innovation". You create a SIV with these fine diddly notes and sell them with a fancy name.

 

Basically the same way they dealt away with subprime. <_<

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Wait a sec.. what do you hedge a Californian IOU with?

 

 

Disney Dollars and Knott's Berry Farms Wooden Nickels.

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Shares in “General Motors,” the company says, are worthless. But many investors apparently have missed the message.

 

G.M.’s stock, which now represents the company’s bankruptcy estate, continued an improbable rise in price on Friday, prompting concern by company officials and securities regulators that investors are confused.

I think GM has missed the message that investors are giving it.

 

The company has been a No Chance To Dance penny slot machine hosting lines of nicotine-stained 70-something riverboaters wanting to be anything but the last bag holder. Like Mississippi huntin' season: if it moves, it's fair game.

 

You could put 4 capital letters on a douchebag, list it on the NASDAQ, and trade a hundred million shares before Cramer even begins to get a whiff of it.

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So far, just one signup to be a contributor to Financial News Watch. I may be crazy, but I've believed for a long time that a publication focused on featuring volunteer critics of the mainstream financial media could be something that's fun, and potentially important. So just for the hell of it, if you see an article that you have any thoughts about, just register and throw in a headline a snippet and a link to the source, and then your thoughts.

 

Let's rip these guys a new one. Of course, we should also be giving kudos where due.

 

It's very easy to embed videos. Just copy and paste the embed code.

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GregFokker Posted on: Jun 14 2003, 04:07 PM

 

Dean of Stock Proctology

 

Group: Moderators

Posts: 14653

Joined: 2-February 02

Member No.: 332

...

Derby Day, the BAREister resplendent in weekend attire, checkbook and quill properly stowed in the silklining of his crepe pinstripes, the bright spring rays deflected to hither and yon by his hard be-ribboned derby hat. The melodious clink of melting rocks in an oversized old-fashioned cooling his manicured paw as his patent leather two-toned saddle success shoes navigate a path through the high rollers, seeking out shadier harbour from which to survey the goings-on. From a distance, the whinying of the horses, the sollicitous chatter of their handlers and jockeys, the hum of the boulevardiers, bon-vivants, bookies, bet-layers, boisterous bettors and buxom belles. His perspicacious glances taking in all and settling on none, the BARE surveys Derby Day and sizes up the odds.

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