Posted by MarkB_MI on June 06, 2014 at 01:50:19 from (70.210.66.84):
In Reply to: Re: OT---GM recalls! posted by Robert in Md. on June 05, 2014 at 19:07:52:
>Is it true what I heard , that the GM stockholders lost their stock , when the goverment took over GM a few year ago.
No GM stockholders "lost" their stock. Rather, it became worthless when GM declared bankruptcy. The stock would have become worthless regardless of whether or not there had been a government bailout, because in a bankruptcy stockholders get paid last (which is to say they don't paid at all).
Interesting, "Old GM" stock continued to trade for a few cents a share after the company had declared bankruptcy and its stock had been de-listed from the NYSE. I was curious to see if it was still being traded; according to the article below, OTC trading of Old GM ceased March 31, 2011.
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