GM/GMAC - Io ci credo ancora 22°.

[paullee]

non so voi, ma io senza il ns forum per un giorno mi son sentito come un tossico in crisi di astinenza.
Ma adesso il mio pusher è tornato

[i98mark]

Originalmente inviato da paullee

non so voi, ma io senza il ns forum per un giorno mi son sentito come un tossico in crisi di astinenza.
Ma adesso il mio pusher è tornato

Shark non ha ancora scritto oggi...

[albicocco]

Ma la SEC (o altri organi USA preposti al controllo dei mercati) non dovrebbero pretendere trasparenza per operazioni tipo quella proposta da GMAC?
Da noi la Consob non controlla ma quando ci sono fusioni OPV OPA OPS ecc fa pubblicare pagine e pagine su tutti i quotidiani e negli USA ?

[paullee]

Originalmente inviato da i98mark

Shark non ha ancora scritto oggi...

sta aspettando il pusher personale

[i98mark]

Originalmente inviato da albicocco

Ma la SEC (o altri organi USA preposti al controllo dei mercati) non dovrebbero pretendere trasparenza per operazioni tipo quella proposta da GMAC?
Da noi la Consob non controlla ma quando ci sono fusioni OPV OPA OPS ecc fa pubblicare pagine e pagine su tutti i quotidiani e negli USA ?

Ma GMAC non è quotata... credo che la SEC non abbia poteri del genere che indichi tu verso le società non quotate...

[VictorGolf]

Originalmente inviato da i98mark

... The complete terms and conditions of the offers are set forth in the offering memoranda and other documents relating to the offers which will be distributed to eligible holders. The offers are subject to significant conditions that are further described in such documents.

Documents relating to the offers will only be distributed to holders of the old notes who complete and return a letter of eligibility confirming that they are within the category of eligible investors for this private offer. Noteholders who desire to obtain a copy of the eligibility letter should contact Global Bondholder Services Corporation, the information agent for the offers, at (866) 794-2200 (U.S. Toll-free) or (212) 430-3774 (Collect). ...

Che trasparenza! ...

[sologin]

qulacuno mi puo' far il riassunto delle puntate precedenti per i bond GMAC? c'è un piano o qualcosa del genere? (dal post di i98mark sembrerebbe ceh ci sia qualcosa in pentola...)

[shark2007]

Originalmente inviato da i98mark

Shark non ha ancora scritto oggi...

Eccomi ...! Benchè evocato dal "perfido Mago Merlino" ... vengo a Voi tutti Bondisti prediletti per porgerVi solo buone novelle ...

Auto: democratici, piano credibile
Vertici del parlamento Usa scrivono a Gm, Ford e Chrysler

(ANSA) - NEW YORK, 22 NOV - I vertici del partito democratico Usa chiedono alle compagnie automobilistiche 'un credibile piano di ristrutturazione'.
Il piano, come chiedono a Gm, Ford e Chrysler la speaker della Camera Pelosi e il leader della maggioranza al Senato Reid, deve indicare 'i termini del prestito richiesto e previsioni sull'andamento delle vendite'. Nella missiva si specifica che ogni eventuale prestito dovra' essere di 'senior status', cioe' dovra' essere ripagato prima di ogni altro debito.

[shark2007]

GM, Awaiting Aid Verdict, to Idle Plants, Return Jets (Update1)
Last Updated: November 22, 2008 06:47 EST
By Mike Ramsey

Nov. 22 (Bloomberg) -- General Motors Corp., under pressure after Congress delayed action on automaker aid, is idling four plants for an additional week, extending the shutdown of an engineering center and returning some corporate jets.

The closure of a truck factory in Oshawa, Ontario, is also being moved up by two months to May 14, Tony Sapienza, a spokesman for Detroit-based GM, said yesterday. The plants that will shut down for an extra week in January are in Michigan, Ohio, Kansas and Missouri.

GM, which has said it may run short of operating cash by the end of this year, acted a day after Democratic leaders in Congress put off deciding on loans to automakers until next month. Congressional leaders want GM, Ford and Chrysler LLC to make a case for the help.

“At this point, GM is not thinking about 2015, they are thinking about 2009,” said Mike Robinet, an analyst at CSM Worldwide Inc. in Northville, Michigan. “Ninety percent of their decisions are focused on what they need do to bolster revenue and save cash.”

House Speaker Nancy Pelosi, a California Democrat, and Senate Majority Leader Harry Reid, a Nevada Democrat, told the automakers in a letter yesterday that they must provide “a forthright, documented assessment” of their current operating cash position, short-term funding needs “and how they will meet the financing needs associated with the plan to ensure the companies’ long-term viability.”

Pelosi told reporters that even if the automakers fail to make a convincing case, Congress must do something to help them.

Some members of GM’s board of directors are open to filing for bankruptcy protection, the Wall Street Journal reported today, citing unidentified people familiar with the company.

Corporate Jets

GM is in the process of returning two leased corporate jets after sending back two others in September, said Tom Wilkinson, a company spokesman. The largest U.S. automaker will have three jets still in use, he said.

Ford, the No. 2 U.S. automaker, also is exploring the sale of its five corporate jets, Mark Truby, a spokesman for the Dearborn, Michigan-based company, said yesterday.

GM’s decision on returning two additional planes was made before criticism this week from some members of Congress about GM Chief Executive Officer Rick Wagoner, Ford CEO Alan Mulally and Chrysler’s Robert Nardelli flying in private jets to hearings in Washington to ask for a bailout, Wilkinson said.

The company has cut back on travel, using methods such as more video conferences, and doesn’t need as many jets, he said.

GM rose 18 cents, or 6.3 percent, to $3.06 yesterday in New York Stock Exchange composite trading. The stock has declined 88 percent this year, the most among the 30 companies in the Dow Jones Industrial Average.

Declining Sales

The automaker is scaling back production after its U.S. sales of cars and light trucks tumbled 45 percent in October, part of a 20 percent decline so far this year.

The plants affected by yesterday’s announcement are in Orion Township, Michigan; Lordstown, Ohio; Fairfax, Kansas; and Wentzville, Missouri. The Michigan and Ohio factories will be idled the week of Jan. 5, and the Kansas and Michigan facilities the following week.

GM will also shut its engineering operations in Warren, Michigan, and vehicle test facilities in Arizona and Michigan on Dec. 19, four days earlier than initially planned, to save money, Wilkinson said. The employees are being asked to use vacation days, he said.

Those actions follow GM’s announcement Nov. 18 that it would idle five plants for as long as two weeks and limit overtime.

In addition, GM said on Nov. 7 that it would shut down production at eight plants through the beginning of February and permanently slow production at 10 factories, eliminating 3,600 jobs, starting in January and February. Those actions were part of a plan to cut an additional $5 billion after GM said it may run out of cash to pay its bills by year-end.

‘Customers Are Waiting’

“The longer the debate goes on in Washington, the longer the stall on sales: Customers are waiting it out to see what’s going to happen,” said Dennis Virag, president of Automotive Consulting Group in Ann Arbor, Michigan. “GM needs to take these production cuts.”

Ron Gettelfinger, president of the United Auto Workers, said his union is “at the bargaining table every day working on things to make these companies, to put them in better shape.” The UAW leader spoke in an interview on Bloomberg Television’s “Political Capital with Al Hunt.”

Gettelfinger said he backs a “low-interest bridge loan” to the automakers to keep them out of bankruptcy.

GM is still negotiating local agreements with the UAW at 19 plants. The automaker has eliminated about $500 million in U.S. union-related annual costs by hiring out jobs such as janitors and getting more flexibility from remaining workers.

The company said on Nov. 17 that it also has cut expenses by paying fewer workers who are idled by plant closings and don’t have a new job. The so-called Jobs Bank has fallen to about 1,000 workers, after peaking at more than 7,000 before the 2007 accord.



Si legga attentamente la frase sottolineata in bleu e ... soprattutto quella in verde grassetto ...

[i98mark]

Originalmente inviato da VictorGolf

Che trasparenza! ...

In sostanza loro dicono: negli USA l'offerta riguarda solo "qualified istitutional buyers" e "qualified purchasers". La prima categoria è definita normativamente, ma la seconda è individuata attraverso un rimando alle condizioni dell'offerta.

Quindi se non leggi le condizioni non sai se sei ricompreso nella categoria oppure no... però se non sei ricompreso nella categoria, in teoria non hai titolo a riceve l'offerta...

Poi dicono: fuori degli USA, devi essere non qualificabile come "persona di diritto USA (persona fisica o giuridica)" ed inoltre devi essere un "qualified offeree" oppure un "qualified purchaser".

Entrambe le categorie sono definite dall'offerta, e quindi senza l'offerta non sai se vi rientri, ma per poter ricevere l'offerta devi essere ricompreso in tali categorie.

Dunque suppongo che il service telefonico serva a fare una scrematura, facendo sì che l'offerta non sia proprio conoscibile a coloro a cui è non è destinata.

A lume di naso, dovrebbe essere una cosa così...

Però resta un peccato non poter conoscere questa offerta, anche perché supponiamo che il qualified offeree o il qualified purchaser siano individuati in funzione delle quantità di bond detenute.

Se non conosci il quantitativo minimo di bond al di sopra del quale sei eligible per lo swap, come fai a decidere ?

E poi, supponiamo anche che tu non rientri fra i destinatari dell'offerta. Ti meriterebbe tuttavia conoscerla nei dettagli anche se non puoi parteciparvi, per cercare di capire se l'offerta sposta qualcosa circa la tua convenienza a vendere i tuoi bond sul mercato ora oppure tenerteli...

....

Accordingly, the GMAC offers are being made only (i) in the United States, to persons who are both "qualified institutional buyers," as that term is defined in Rule 144A under the Securities Act ("QIBs") and "qualified purchasers" (as defined in the GMAC offering memorandum) or (ii) outside the United States, to persons who are not "U.S. persons," as that term is defined in Rule 902 under the Securities Act and who are also both "non-U.S. qualified offerees" and "qualified purchasers" (each as defined in the GMAC offering memorandum). The ResCap offers are being made only to (i) in the United States, QIBs, or (ii) outside the United States, persons who are not "U.S. persons," and who are "non-U.S. qualified offerees."