BS: As American as GM...

Subject: BS: As American as GM...
From: beardedbruce
Date: 11 Nov 10 - 11:43 AM

"China's SAIC close to GM IPO stake buy-sources

DETROIT/NEW YORK | Wed Nov 10, 2010 6:04pm EST

DETROIT/NEW YORK Nov 10 (Reuters) - General Motors Co [GM.UL] is in the final stage of talks to sell equity to long-time Chinese partner SAIC Motor Corp (600104.SS) in conjunction with its landmark initial public offering, two people familiar with the matter said.

The two government-funded automakers are currently finalizing how much of a stake SAIC would buy in the top U.S. automaker after discussions involving technology sharing and SAIC's ambitions to move beyond the China market, the sources said.

Any agreement between GM and SAIC would need Chinese government approval and could still fall apart, the sources cautioned.

One person familiar with the matter said previously that SAIC had initially reached out to GM to explore the prospect of taking a "single-digit" stake in GM. The size of SAIC's prospective investment was not known.

The final round of talks have been led by SAIC Vice Chairman Chen Hong and could conclude as soon as the weekend, that source said.

The sources were not authorized to speak with the media and declined to be named because the talks are private. Representatives for GM and SAIC declined to comment."

Subject: RE: BS: As American as GM...
From: MGM·Lion
Date: 11 Nov 10 - 11:49 AM

Oh, General Motors?! Phew! Just for a moment there !!!!

Subject: RE: BS: As American as GM...
From: Jack the Sailor
Date: 11 Nov 10 - 12:15 PM

That title has almost nothing to do with the article. "explore the prospect of taking a "single-digit" stake in GM"

A 9% potential state by a Chinese partner hardly makes them un-American.

Subject: RE: BS: As American as GM...
From: beardedbruce
Date: 11 Nov 10 - 12:28 PM

But a few dollars from foreign sources that are not used in elections taints all the spending of the CofC???

Jack, you need to go get the Democrat party line and stop thinking...

Subject: RE: BS: As American as GM...
From: Jack the Sailor
Date: 11 Nov 10 - 12:46 PM

Bruce, Foreign investment is legal and officially encouraged by both parties. Foreign spending on our elections is not legal. Loopholes are despicable. Money is fungible.

Its not a complicated concept or a difficult distinction.

Subject: RE: BS: As American as GM...
From: beardedbruce
Date: 11 Nov 10 - 12:55 PM

So you agree the unions getting 9 times as much as the CofC, and spending more on the election, are despicable???

Subject: RE: BS: As American as GM...
From: Bill D
Date: 11 Nov 10 - 12:59 PM

"...unions getting 9 times as much as the CofC, ..."

Depends on WHERE they get it....1000s of identified donors or a few anonymous ones

Subject: RE: BS: As American as GM...
From: beardedbruce
Date: 11 Nov 10 - 01:01 PM

They got it from foreign nationals, as I have shown. In addition, the foreign funds that the CofC gets are accounted for, as well.

It is ONLY the Obama campaign that has gotten foreign funds in any large amount that came from anomymous donors, in 2008.

So I will expect you to comment on THAT now...

Subject: RE: BS: As American as GM...
From: Jack the Sailor
Date: 11 Nov 10 - 01:39 PM

How do you conflate all of that with a foreign partner company investing in GM?

Subject: RE: BS: As American as GM...
From: beardedbruce
Date: 11 Nov 10 - 01:48 PM

Lets save GM so the Chinese can make money!

Subject: RE: BS: As American as GM...
From: Q (Frank Staplin)
Date: 11 Nov 10 - 01:53 PM

The sale would be part of a long time cooperative venture.
Quoting from www.just-auto.com, Nov. 11, 2010:
The potential investment in GM by China's top automaker would expand their 13 year joint-venture in China, and their newly established relationship in India, to a broader global stage.
See last item, below, on the International unit.

Allied news:
GM is set to price its roughly US$13 billion IPO on 17 November and start trading the next day. The US Treasury, which owns 61% of GM's common stock as a result of its US $50 billion US taxpayer-funded bailout, is expected to cut its stake to slightly more than 40% in the IPO.

This last quarter, GM posted a US$2 billion profit, or $1.20 a share, after adjusting for a 3-for-1 stock split.

The International unit, which includes China and India, earned US$646 million in the quarter.
GM sells more cars in China than the US.
http://moneywatch.bnet.com

[A joint venture with the Chinese partner expects to market an electric car soon].

Subject: RE: BS: As American as GM...
From: Jack the Sailor
Date: 11 Nov 10 - 02:03 PM

So the Chinese can invest money. Part of us will be used to pay us back.

Subject: RE: BS: As American as GM...
From: catspaw49
Date: 11 Nov 10 - 11:31 PM

Are the Chinese really so stupid? Well I guess so.........but since Chevy has increased their NASCAR involvement and is coming back to Indycars in 2012 they are going to find a new way to lose their money. Remember, anyone can make a small fortune in racing if they start with a large one.

Spaw

Subject: RE: BS: As American as GM...
From: Jack the Sailor
Date: 11 Nov 10 - 11:49 PM

The past two quarters have been among the most profitable in 20 years for them.

Subject: RE: BS: As American as GM...
From: Donuel
Date: 12 Nov 10 - 12:36 AM

Ford sold its SAAB division to China 2 years ago. so ...

The Public Stock offering by GM is to be one dollar forty cents per share.

I recommend buy.

Subject: RE: BS: As American as GM...
From: Bobert
Date: 12 Nov 10 - 07:52 AM

Heck, I don't care if Mao Tse Tung owns GM as long as the jobs stay here...

Subject: RE: BS: As American as GM...
From: gnu
Date: 12 Nov 10 - 08:19 AM

Q... what do you recommend re the offering?

Subject: RE: BS: As American as GM...
From: Q (Frank Staplin)
Date: 12 Nov 10 - 02:25 PM

I would buy. But read up on GM vs other companies with the same combination of manufactures. At my age, I no longer follow the stock markets so my opinion is without basis.
Incidentally, some forecasters are predicting a dip in stocks at the end of the year, countering the current trend. Always a bit of a gamble.
Rolls-Royce Industries were considered a safe investment, but now are down $1.5 billion in value because of the exploded engine.

GM sells more cars in China at the moment than in the U. S.
BMW makes several models in China. The car companies go where the markets are. I think Volkswagen-Porsche is doing the same.

GM plants in Europe lost money this year but seem to be doing OK in North America.

Subject: RE: BS: As American as GM...
From: gnu
Date: 13 Nov 10 - 10:13 AM

Thanks Q.