Good GM could exit bankruptcy as early as Thursday.

http://www.detnews.com/article/20090...ed-late-Sunday

 

I hope they change the name of "new GM" and get rid of those stupid GM badges. The GM name is tainted as bad as AIG. I don't know why they continue to use it so much in advertising. It hurts sales more than it helps, no one goes out to buy a "GM", they buy Chevys, Cadillacs, Pontiacs, Hummers, and Buicks.

 

They are changing the name to "General Motors Company" with a stock symble in the future of NGMCO

 

I believe this is temporary. NGMCO will quickly change its name to General Motors Corporation. The old GM will change its name to Motors Liquidation Company or similar.

FYI, some links to applicable documents:

http://www.scribd.com/doc/17124180/O...g-GM-Sale-Plan

http://www.scribd.com/doc/17123143/J...-GMs-Sale-Plan

 

The old GM is Motors Liquidation Company but the New GM is "General Motors Company"

GM right now is called "NGMCO, Inc. until the sale is finalized, at which point it will be named General Motors Company.

Looking at the wording however suggests just "GM" will be used as it says it will continue to operate under GM's historic corporate brand and sub-brands of course being chevy, buick gmc and Cadillac. I'm trying to track down if a new logo will be introduced to go with the "parent" brand General Motors Company if any of that makes sense.

 

General Motors is no longer a Corperation, and therefore can not be called such.



Like the Ford Motor Company, it is largely owned by a single entity (the Ford Family at Ford, and the US government at GM).

Chrysler was no longer a corperation when it sold to Daimler. It became the Chrysler division.

At Cerberus, it became the Chrysler Group, which is the name it will use under Fiat.

Corperation typically means a publically traded company, owned by shareholders.

When GM goes back to being a publically traded company, it will then become a corperation again.

Till then, GM's name is The General Motors Company.

No new logos.

Just the change from "corperation" to "company".

 

Semantics?

 

I'm disappointed, I think keeping the GM name and those stupid fender/door badges will hurt sales. "GM" has seen a lot of bad press, while "Chevrolet" has seen a lot of good lately. I hear a lot of people say they will never buy GM again, but I never hear "I won't buy a Chevrolet or Cadillac".

also, I thought Chrysler was a LLC

 

Maybe because they know Chevy and Cadillac are a part of GM and won't buy either so it's easier to say GM Your point is invalid

 

It is.

LLC has the limited liability of a corperation without having an army of stockholders the corperation has.

LLC can have a single or a group of owners (even another corperation), buy while owners of a company can be sued directly, in a corperation (or an LLC) it can only be sued as an entity.

Under Cerberus, Chrysler was a private company owned by Cerberus and was called Chrysler LLC (I mistakenly called it "Group" while under Cerberus).

Under Daimler, it was Chrysler Group and now under Fiat, it's Chrysler Group LLC.

As an LLC, it's main owner's assets are protected from liability.

This protected Cerberus from any liabilities that Chrysler encountered, and this also protects new owners Fiat and the UAW pension fund as well.

General Motors will be an LLC when it comes out of bankruptcy. Otherwise, people would sue the government for anything related to GM.

 

A Corporation does not have to be a publicly traded company.

 

Corporation.

I'm glad it was approved. We were only a few days short of the July 10th deadline.

 

Sooo..... Let me make sure I'm understanding this correctly:

Due to the fact that the US/canadian govts, a union, and a handful of creditors own GM, there will NOT be an initial stock offering when they emerge from bankruptcy court on the 10th of july?

This coming friday, I will NOT be able to buy GM, GMC, or NGMCO stocks at 8am EDT?

 

I think that's true, but I think the goal is for them to to resume being publicly traded (presumably by way of an IPO) as soon as possible.

 

I really want to grab some stocks during an IPO and "grow with the company", so to speak.

I'm gonna throw at least $500 at them.