Thanks to our main man, Justin, for providing these documents. History buffs may want to save a copy of this, General Motors’ C11 filing. Beyond that, here’s a list of GM’s assets. Needless to say, after 83 years on the New York Stock Exchange, GM has now been de-listed. “The parlous state of GM has left us with no choice but to remove it from the Dow,” said Robert Thomson, managing editor of the Wall Street Journal and editor-in-chief for all of Dow Jones. “A bankruptcy filing immediately disqualifies a stock regardless of a company’s history or its role as a cultural icon.” Parlous. How quaint. Anyway, Cisco Systems Inc. has replaced the automaker on the Dow 30 Industrial Average, which also punted Citigroup (which will be replaced by former division Travelers).
Kind of funny how they misspelled Ron Gettelfinger’s name in the list of unsecured creditors!
Interesting.
Except for a “GM Automotive UK” no mention of any European holdings. Looks like GME has been successfully brought under the German trustee umbrella.
Anybody see Holden? Where did they go?
A lot of Chinese holdings are listed (138 – 142) I thought the Chinese said GM China would be unaffected?
Strange, shares of GM are still trading, up to $0.97.
It is rather shocking how much power the Wall Street Journal has over the price of stocks. The Journal should be embarrassed that it took them so long to yank GM and that it took them so long to include Cisco (GM’s replacement in the DJIA).
This just in: GM’s closing 12 more plants.
So much for the strength of the UAW, huh?
http://apnews.myway.com//article/20090601/D98HU9DG0.html
So, Sky/Solstice are gone after July, Traverse moves out of Spring Hill as expected. What else?
Why is GM’s stock still trading? And it’s up, who are these stupid people buying it? And why is the market up with the news of their filing, job cuts, plant closings, etc. Am I missing something, did I wake up in bizzaro world.
Why do they list so many dealers on there? Any idea of why some are on there and some aren’t?
@Redbarchetta
I bet the people buying GM stock today are the ones covering short positions – their bets that the GM stock would go lower from the point at which they made such bet. Don’t feel too bad about them – they must have made good money on the no-loose bet.
No mention to General Motors Venezolana C.A. :)
Local branch is right now stopped because of currency problems.
But the Colombians got fubard. And so the Brazilians and Argentinians…
GM Automotive UK is very probably the old Daewoo sales operation, which now sells “Chevrolets”.
That is, GMDaewoo cars, with Chevy bow ties.
Interesting that GM could not parse out the Chinese operations before all of this.
As for where Holden is, I have no idea. GM owns 100% of Holden, and it is actually Holden which owns part of GMDaewoo on behalf of GM.
As for whether the Chinese JV’s (joint ventures) are held directly by GM or an intermediary subsidiary, I have no idea.