GM Plans To Issue 60 BILLION Shares Of Stock To Repay Debt!

The unusual plan, which was detailed in a filing with U.S. securities regulators, would only need the approval of the U.S. Treasury to proceed since the U.S. government would be the majority shareholder of a new GM, the company said.

The flood of new stock issuance that could be unleashed has been widely expected by analysts who have long warned that GM's shares could be worthless whether the company restructures out of court or in bankruptcy.

Agent009 - 5/6/2009 1:02:53 PM

-1 Boost

Glad I don't own GM stock. Charmin would be worth more a sheet than GM stock once this happens.

Agent001 - 5/6/2009 1:16:07 PM

-1 Boost

Dumb and Dumber Script: Sounds Familiar

LLOYD

Okay, here's the plan: We borrow a
few bucks – just a small loan – from
the briefcase, and we check into a
cheap motel.

HARRY

Sounds good.

LLOYD

And we'll keep track of the money we
spend with IOU's. They're as good as cash!

HARRY

We'll be meticulous – right down to
the last penny.

LLOYD

That way, whatever we borrow we can
pay back.

HARRY

Absolutely. We're good for it!

LOLOL!!!

001