the lidless trash bin…
Recently, we read the following:
New York Times: “G.M. Stock Advice: Expect Zero Value” by Jack Healy
“Major corporations are not known to advise investors that their stock is essentially worthless. But on Wednesday, after several days of high-volume trading of General Motors shares, the automaker warned traders that its stock would have no value when it emerged from bankruptcy.
“ ‘G.M. management continues to remind investors of its strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios,’ G.M. said.
“G.M. was delisted from the New York Stock Exchange after it filed for bankruptcy protection in June, but its stock has traded over the counter for more than $1 a share.
“Investors holding common shares of General Motors are expected to be wiped out by the reorganization.”
And we thought:
…Is there something those investors know that the public doesn’t? Of course, recyclers are known to make money out of waste...