Don't you believe that GM has divested its mortgage unit...

[clistensprechen]

I was told that GM's bank-lite business was spun off to become Ally Bank, but I'm viewing a Reuters analyst who appeared on CSPAN today saying that it still has its mortgage unit and that's part of its current problems. Reuters analyst Deepa Seetharaman said that losses are estimated to be about 25 billion (estimate that happens IF stockholders cash out early) and the reasons include its mortgage unit. They still own 75% of Ally. Others include its "legacy" commitments in retirement funding (as if the pensioners didn't earn it already) and its stock price foundering since its IPO (Initial  Public Offering) of new shares of stock, which started at $33/share, which she now says is "under water", and needs to be up over $50/share.  She didn't say if it was just common stock, but I presume that's what she meant.

Another factor is Europe and GM's commitment to turn around Opal, and because Europe is in a financial quandary, GM's other European prospects are as rosy as Europe's.

I say again--because GM remains mixed up on the housing market as well as the auto market, GM is going to get bailed out again because there's no other valid choice, and Forbes is going to LIKE it.

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Aha. I just got her twitter addy. It's @dseetharaman .  I'm gonna do a followup, I think.

[RWE]

I say again--because GM remains mixed up on the housing market as well as the auto market, GM is going to get bailed out again because there's no other valid choice, and Forbes is going to LIKE it.

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If your prediction occurs before the election I can't see that helping Obama.

[RWE]

And then there's this from Reuters Thu Aug 16, 2012

http://www.reuters.com/article/2012/08/16/gm-ally-idUSL2E8JF72920120816

Aug 16 (Reuters) - General Motors Co, partly owned by the U.S. Treasury, is seeking to buy international operations from auto lender Ally Financial, which ironically wants to use the proceeds to help repay its own federal bailout aid.

With almost $33 billion in cash and marketable securities at the end of the second quarter, GM has the money to pursue such an acquisition.


Are they going bankrupt or are they rolling in dough?

[clistensprechen]

I say again--because GM remains mixed up on the housing market as well as the auto market, GM is going to get bailed out again because there's no other valid choice, and Forbes is going to LIKE it.

==============================

If your prediction occurs before the election I can't see that helping Obama.

I never made a claim one way or another on that.
The claim I make is that it is inevitable. If it doesn't happen sooner, it'll happen later and, most important, Forbes is going to LIKE it.

[clistensprechen]

And then there's this from Reuters Thu Aug 16, 2012

http://www.reuters.com/article/2012/08/16/gm-ally-idUSL2E8JF72920120816

Aug 16 (Reuters) - General Motors Co, partly owned by the U.S. Treasury, is seeking to buy international operations from auto lender Ally Financial, which ironically wants to use the proceeds to help repay its own federal bailout aid.

With almost $33 billion in cash and marketable securities at the end of the second quarter, GM has the money to pursue such an acquisition.


Are they going bankrupt or are they rolling in dough?

It remains to be seen. The purpose of the OP is to put current facts forward, considering that, in a different thread, incorrect suppositions were made in regard to the items brought up in this thread.