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#2 (permalink) | ||
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OTC T1 Distressed
Data registrazione: Dec 2008
Messaggi: 5,733
Popolarità: 42949676 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Iscritto PEX.
Citazione:
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#3 (permalink) |
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OTC T1 Distressed
Data registrazione: Dec 2008
Messaggi: 5,733
Popolarità: 42949676 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Opel, Gm incontra autorita' tedesche
Domani a Berlino (ANSA) - ROMA,6 LUG -I top manager di general Motors domani incontreranno a Berlino alcuni funzionari del governo tedesco per discutere le offerte avanzate per Opel.Lo scrive la Bloomberg citando tre fonti vicine al dossier. I colloqui faranno il punto su Magna,finora in pole position come acquirente per Opel, ma anche sulla cinese Beijing Automotive Industry Holding e sul gruppo europeo Rhj. Intanto - scrive il Wall Street Journal- il gruppo Usa starebbe riflettendo sull'opportunita' di vendere al gruppo cinese. __________________________ |
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#4 (permalink) |
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OTC T1 Distressed
Data registrazione: Dec 2008
Messaggi: 5,733
Popolarità: 42949676 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Molto interessante.
Sale could end GM's bankruptcy in 40 days
Last-ditch effort by creditors is a long-shot to end sale Robert Snell and David Shepardson / The Detroit News General Motors Corp. won approval late Sunday to sell its best assets to a government-owned company, paving the way for a stunningly swift emergence from Chapter 11 bankruptcy less than 40 days after GM filed for court protection. Once the sale closes, which is not expected before noon on Thursday, the 100-year-old automaker will be majority-owned by the U.S. Treasury Department. The government will have a 60.8 percent stake after providing more than $50 billion in financial aid to keep the iconic American company from liquidating and becoming perhaps the greatest industrial failure in the nation's history. "GM cannot survive with its continuing losses and associated loss of liquidity, and without the governmental funding that will expire in a matter of days," U.S. Bankruptcy Judge Robert Gerber wrote in his 95-page opinion. "As nobody can seriously dispute, the only alternative to an immediate sale is liquidation -- a disastrous result for GM's creditors, its employees, the suppliers who depend on GM for their own existence, and the communities in which GM operates." The sale will preserve hundreds of thousands of GM jobs in North America, and around the world, and bolster a reeling network of auto industry suppliers. But it also ensures a continued dismantling of GM's unwanted brands, factories, debts and liabilities the government deemed commercially unnecessary. Barring a successful last-ditch appeal by creditors to block the sale, the U.S. Treasury Department -- through its Vehicle Acquisition Holdings LLC -- would be able to close on the deal after noon on Thursday. GM and the Treasury Department had asked Gerber to make his ruling effective immediately, allowing the sale of GM's assets to close as early as today, but under Gerber's order, GM and the Treasury Department aren't authorized to close the deal until after noon on Thursday, giving objectors a chance to file an appeal and win a court stay. But Gerber warned objectors that the government might not wait that long. Gerber rejected objections filed by key creditors, including consumer and asbestos victims as well as retirees from three unions: the International Union of Electricians, the Steelworkers, and the Operating Engineers. The judge ruled that liability claims pending before GM filed for bankruptcy can be classified as bad assets and left behind in bankruptcy. Gerber's ruling was a sweeping rejection of efforts by unsecured creditors -- who are far less likely to be successful in appealing than some dissident secured creditors were in Chrysler LLC's bankruptcy sale. In GM's case, no secured creditors objected -- because the government agreed to pay them off in full. The odds of the dissident bondholders winning a lengthy delay in GM's exit are slim. It is unclear whether creditors who objected to the sale will appeal, as happened in Chrysler's case, where the objectors' appeal went all the way to the U.S. Supreme Court, which declined to hear the case. GM's swift emergence from bankruptcy was considered nearly impossible due to the Detroit automaker's complexity, size and the number of creditors who were expected to fight a court-ordered restructuring. But that was before Chrysler carved a path through bankruptcy court armed with federal aid, concessions from key stakeholders, a tie-up with Italian automaker Fiat SpA and the strength of a section of the bankruptcy code little known outside legal and financial circles. Gerber referenced the dire consequence facing GM and the need to approve the sale before the government's July 10 deadline. "Bankruptcy courts have the power to authorize sales of assets at a time when there still is value to preserve -- to prevent the death of the patient on the operating table," he wrote. The Obama administration pushed for court approval of GM's asset sale by Friday, warning that it wouldn't offer the Detroit automaker any additional aid after that deadline. The administration has already given GM about $27 billion and has committed to total support of just over $50 billion. President Barack Obama is scheduled to visit the Detroit area on July 14 for a town hall meeting that's to include discussion of the auto industry -- a factor in setting the deadline for court approval of the sale.Like Chrysler, GM is using Section 363 of the bankruptcy code to divide its assets and sell the best to form a new GM. The bad assets would be left behind in old GM to be liquidated or settled in court.Gerber issued a second order Sunday night allowing the old GM access to $1.175 billion in debtor in possession financing from the government it will use to wind down the bad assets. After the new GM emerges from bankruptcy protection, the old GM is expected to spend two or three years in bankruptcy while the bad assets are sold off or shut down. Judge Gerber's order Sunday comes three days after the automaker requested approval of the sale during a three-day hearing in Manhattan. Gerber heard more than 25 hours of testimony and pored over 3,000 legal filings and more than 850 objections. Along with the U.S. government's stake in the new GM, the Canadian government will hold 11.7 percent, a United Auto Workers retiree health-care trust will get 17.5 percent and unsecured creditors will get 10 percent. The Treasury Department's majority stake has drawn criticism from taxpayers and some lawmakers, who oppose the federal government investing in and controlling a public company. Many Republicans have sharply criticized the plan and have suggested the Obama administration distribute its GM shares to taxpayers, or take steps to set a concrete deadline to sell its stake. Last month the Canadian government said it planned to sell its stake in GM within eight years, if not sooner -- a timetable the Obama administration agrees with. But it will take years for both governments to sell all of their shares -- even if GM, as expected, becomes a public company again next year. Once the asset sale is consummated, the new GM will have a new board of directors, which is now being assembled. The board will be led by Chairman Ed Whitacre, former chairman and CEO of AT&T Inc. It is unclear whether GM CEO Fritz Henderson will remain in that role. __________________________ http://www.detnews.com/article/20090...tcy+in+40+days |
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#5 (permalink) |
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OTC T1 Distressed
Data registrazione: Dec 2008
Messaggi: 5,733
Popolarità: 42949676 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
GM plans to exit bankruptcy this week
David Shepardson / Detroit News Washington Bureau Washington -- General Motors Corp. plans to exit bankruptcy later this week through the sale of most of its assets to a new entity backed by the Treasury Department. GM CEO Fritz Henderson said on a company blog posting that the automaker planned to close on the sale after the appeal process is exhausted. U.S. Bankruptcy Judge Robert Gerber in clearing the way for the sale of GM's good assets gave opponents until Thursday at noon to appeal and win an additional delay from a higher court. "We expect the sale to close immediately after the appeal process is exhausted later this week, and for the new GM to be operational and fully competitive, with an exciting line of new products, a smaller and more focused brand portfolio, and a clear mission to put the customer first in everything we do," Henderson said in a blog posting this morning. ... Henderson compared the company's 37-day stay under bankruptcy protection to "fixing our bike while we ride it." "Our focus in recent weeks has been on creating a new company from the strongest parts of the old GM, and on doing it with transparency and speed. This has been an especially challenging period, and we've had to make very difficult decisions to address some of the issues that have plagued our business for decades," Henderson said. "We have, in effect, been fixing our bike while we ride it. Now the repair work is almost done, and we're steering the company back onto a path to viability and success. We're ready for the challenge, and prepared to ride as fast as we can." ___________________________ http://www.detnews.com/article/20090...ptcy+this+week |
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#6 (permalink) |
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ODERINT DUM METUANT
Data registrazione: Apr 2006
Messaggi: 6,552
Popolarità: 42949679 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
General Motors: entro settimana uscirà dalla crisi
Visita il sito di Finanza.com Fritz Henderson, Ceo della General Motors (NYSE: GM - notizie) , dichiara che il colosso dell'auto di Detroit (DETROIT.SN - notizie) uscirà dalla bancarotta entro la settimana. A salvare il gruppo in difficoltà è l'approvazione da parte del tribunale fallimentare di NewYork del piano di ristrutturazione, che prevede la vendita dei suo attivi a una nuova entità controllata dal Tesoro americano.In particolare la nuova GM sarà il 60,8% in mano allo Stato americano, per l'11,7% allo Stato canadese e per il 17,5% al sindacato United Auto Worker(Uaw). Il restante 10% verrà distribuito ai creditori in cambio dell'annullamento di 27 miliardi di dollari di debito. |
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#7 (permalink) |
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OTC T1 Distressed
Data registrazione: Dec 2008
Messaggi: 5,733
Popolarità: 42949676 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Parrebbe ipotizzata l'ipo nei primi 6 mesi del prox anno.
...
Rattner also said GM could hold an initial public offering as early as the first half of next year. IPOs "are difficult to execute when the (equity) market is not reasonably robust," he said. The Treasury has given GM about $31 billion to date -- and plans to give GM the remaining $19 billion by year's end. Treasury has been giving GM weekly financing as well. ... _________________________ http://www.detnews.com/article/20090...icromanage++GM Ultima modifica di Self Made Man 78 : 06-07-09 alle ore 23:05 |
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#8 (permalink) | |
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Member
Data registrazione: Apr 2008
Messaggi: 2,327
Popolarità: 23181386 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Citazione:
avremo un sei mesi di mani con pruvito.. azioni virtuali di solito durano di meno di quelle reali, non queste.. un saluto a tutte le baldraccone del forum |
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#10 (permalink) | |
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Per aspera ad astra
Data registrazione: Oct 2007
Messaggi: 15,323
Popolarità: 42949677 ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Citazione:
![]() Cmq, meglio che le quotazioni prendano l'avvio fra 9-12 mesi ... allora sarà già iniziata la ripresa economica mondiale ed i mercati saranno percorsi da sentiment positivi ... Chissà mai che appena messe in listino le azioni della Nuova GM subiscano lo strappo al rialzo dei prezzi ...!?
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