Motors Liquidation Company (fka MTLQQ)

[pennystockingz]

Me either, I was told time and time again that when this stock has finished liquidating that it will completely fall off the market..U guys are crazy to trade this...This will slowly continue to fall non existence.

[locksflooring]

when the bk is discharged

Until then its Hearsay

[puppydotcom]

I have been saying the company is worthless since it first started trading .. holders of common share holders will get

ZERO ... when the bk is discharged

[locksflooring]

ZERO When how soon

[dibbley]

you probably want to say what has been written here
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40724064
I agree with you, it is great risk to buy this shares, this share really isn't new GM.
But in MTLQQ is a lot of plants, estates and equipment which should be perfect chance for new carmakers from china. They have everything prepared - just buy and make cars very cheaply in USA. This moment should come... or should not.
Actual worth of company is 53,11 M$ - it is funny price for each carmaker company

[puppydotcom]

There is a possibility that some new car-maker buy a few plants from MTLQQ...

the shares are worth what you can sell them for while the stock is still trading .. after that ... ZERO

this is a liquidation action of the bad assets from the old GM with lawsuits and legal nightmares involved

[dibbley]

it looks for a strong trading session today. I hope this share will not be worthless. There is a possibility that some new car-maker buy a few plants from MTLQQ...

[puppydotcom]

its always been worthless .. unless you traded it during the hype and misinformation period ...

[Chili Palmer]

Ridicules that this thing is still trading let alone still in the pennies.

[alexfrank]

Jim Cramer talking about how worthless this is right now!

[WARHAMMER]

Bimmer, thanks for the post, cant PM you but wanted to let you know i appreciate the DD and kind words,

good luck in all you do!

[locksflooring]

I just cant Believe MTLQQ is Still Trading what gives

[etzetrade]

You're absolutely right, we are A&M's cash cow. Before we got something, they probably suck all our blood. Much appreciated your prompt reponse, hopefully, get something from WAMU.GLTY.

[marayatano]

Yes, still holding on the sub bonds of LBHI. I don't know any group, etc., trying to negotiate. I believe it is a loosing position, especially there are tooo little funds in the pot and there are no hedge funds owning them (at least it is not known).

People have to absorb information, good and bad, to be objective and not only look through rose colored glasses as they do on the "other" board. I do not think a certain person on the "other" board is objective. You should know that, that certain person was on the Wamu board as well, but most of the seasoned Wamu DD people there have that person on IGNORE for a reason.

We won't know if this lotto will pay out until approx 5 years. This is going to be a loonnnggg and drawn out to make the attorneys and A&M money, etc. This is a cash cow for them.

imo

[etzetrade]

I don't know that you're still holding any subordinated bonds of LBHI. Do you know any group, person, representatives in your class trying to negotiating any compensation from either debtors, or senior creditors, especially Bank of NY Mellon?

Really appreciated your information, TIA.

[etzetrade]

I'm appreciated deeply from my heart, take your advice to split the risks. Thanks again, and hope we're doing good tomorrow in WAMU's case. GLTY

[marayatano]

SC is not a common practice in BK. Subordinates are generally subordinated to senior creditors in any BK. I don't believe that any senior would give up any contractual subordination provisions, especially when there is so little in the pot to share amongst the creditors.

Not all SC are the same.

CTs have a better chance in SC, however, it is not guaranteed. There must be money in the pot. CT = Lotto.

Diversify, always.

imo

[etzetrade]

Sorry to ask your legal opinion regarding LBHI because I have no PM. Your expertise is much appreciated. TIA

Is it true that substantive consoliation(SC), form legal viewpoint, that subordinated party is no longer subordinated to Senior creditors? In other words, CTs should be compensated. It doesn't matter the percentage is, could be 1% but at least CTs will get something.

I remember a while ago, you also mentioned that SC is the only hope that CTs may get something. Is it a common practice in BK court or it totally depend upon each individual case?

[bucksmypup]

toyota can sue the mtlqq all they want. The original GM Shares that are now mtlqq soon will not exist. these share will be on there way to .0000 x .0001 which equals toilet paper. I can figure how this rallied for the last couple days either. crazy.

[puppydotcom]

In brief: Toyota sues company handling GM bankruptcy assets

Toyota is suing the company handling bankrupt General Motors' assets, demanding $73 million in damages from the shuttering of a joint-venture California plant. Toyota Motor Corp . spokesman Paul Nolasco said the lawsuit was filed Nov. 24 for research and development costs that weren't recouped because of the shuttering of New United Motor Manufacturing Inc., or Nummi, plant in Fremont, Calif.

[MorningLightMountain]

people are either deceptively pushing this as being a benefactor of the new GM shares (as seen before for MTLQQ, and posted on this board numerous times), and/or ignorant of the facts.....

in other words, typical penny stock antics......

PS: how the mighty have fallen!!!!!!

[BBLV]

Huh? In English please?

[Roy London]

pushing it before she goes away Gm ipo coming to town

[sherwood37]

why is this moving?

[ICEQUITY]

Investors Demand Media Coverage For MTLQQ AKA GM-IPO#1 (2010/11/17 was 0.25) Today Motors Liquidation Company $0.075 ?-0.0175 (-18.92%)
(1 Year Ago .61)

So sad but who knows maybe in 50 years the stock certificates will be collectors items...

Not if we run out of paper first!


Substantially all of its assets in the section 363 sale to General Motors Company to create the new GM
http://read.bi/cLfsiw

"Demand Media Coverage For MTLQQ" A.K.A. GM IPO#1
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56890767



GM Finalizes Sale of Nexteer to Pacific Century Motors
2010-11-29 DETROIT
General Motors Company today confirmed the completion of the sale of Nexteer Automotive to Pacific Century Motors, effective November 30, 2010.

The sale of Nexteer’s business includes global steering and halfshaft operations including 22 manufacturing facilities, six engineering facilities and 14 customer support centers located in North and South America, Europe and Asia. The terms of the sale were not disclosed.

About General Motors:

General Motors, one of the world’s largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 209,000 people in every major region of the world and does business in more than 120 countries. GM and its strategic partners produce cars and trucks in 31 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Isuzu, Jiefang, Opel, Vauxhall, and Wuling. GM’s largest national market is China, followed by the United States, Brazil, the United Kingdom, Germany, Canada, and Russia. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. General Motors acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors can be found at www.gm.com.

"General Motors acquired operations from General Motors Corporation on July 10, 2009?" WTF - So if a corporation gets in financial trouble.... they can just sell the good assets to themselves and leave all the debts and liabilities with the old? GM left the shareholders holding bag..... and it stinks!

Posted November 29, 2010 - 1:33 p.m.
GM stock hits a post-IPO low, rebounds to close unchanged
"General Motors’ stock closed today even with its $33.80 opening price, after this morning falling to $33.07, its lowest level since it started trading Nov. 18."
freep.com


God Bless America and the GM Bagholders Regardless!
Better luck this time, I'll wait for the next GM Initial Public Offering... or the Demand Media IPO. Which ever comes first. Ha!
Demand Media IPO

[puppydotcom]

yes .. it was.. in spit of the warnings

[MorningLightMountain]

Who knows maybe in 50 years the stock certificates will be collectors items!

get a GM hubcap or something out of the junkyard for a few bucks......it will probably be more of a collector's item than this no-cash-for-clunker liquidation.....and at least a restorer might want the hubcap in the future.....

PS: I still laugh at this "thing", one of the most criticized and ugliest cars ever, the Aztek......I still think it had something to do with the doom of Pontiac!!!

(oh, and the only person I ever knew who bought one (NEW!!) was for his Russian mail order bride who dumped him after a few years, took half his money, and left him for his friend...true story, swear to God, so you know he was a loser supreme.....and to set the record straight, this was nobody in my gene pool, thank goodness...not even a friend, just a moron I had to deal with on occasion, listening to his whining....and yeah, she let him have the car in the divorce settlement....hard to make stuff like this up!!!!)



The Aztek was heavily criticized on its exterior styling, with Time magazine in 2007 calling the Aztek one of the worst cars of all time,[1] and again in 2010 as the 34th worst invention of all time.[2] A poll in The Daily Telegraph in August 2008 placed the Aztek at number one of the "100 ugliest cars" of all time.[3]

PPS: don't know what this guy is smoking either:

Matthew DeBord of The Big Money argued that despite its poor reviews and sales, the Aztek is the car that, in the long run, could save GM. He praises GM for being daring and trying to create an entirely new market in vehicles, rather than simply copying successful formulas. He argues that the Aztek's failure is similar to the failure of the Apple's Newton and Mac Portable - two failed products that revolutionized the computer industry and became the basis for later successful products made by Apple.[16]

http://en.wikipedia.org/wiki/Pontiac_Aztek#Critics

[Chili Palmer]

Amazing how long it took for folks to realize this was garbage!

[samick2014white]

share liquidation common

[puppydotcom]

you can expect ZERO return for the common shares of MTLQQ - when the bk is discharged .. the shares will be worthless

[ib12u]

BUY BUY BUY!! THIS IS GOING TO EXPLODE!!!!!!

Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! BUY!! BUY!!! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant!

wink!

DONT MIND TODAY'S NEWS!! THEY'RE JUST TRYING TO PREVENT PROFIT TAKING!!

AFTER THE SCARE ENOUGH AWAY,, THEN THEY'RE DRIVE THIS UP AND SAY "oops" Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! Pant! BUY!! BUY!! BUY!!!

Wink!

(Wondering is suckers are lining up.. Wink!)

[ICEQUITY]

"Demand Media Coverage For MTLQQ" ICEQUITIES on Nov 19, 7:06 AM said:
"An initial public offering (IPO), referred to simply as an "offering" or "flotation", is when a company (called the issuer) issues common stock or shares to the public for the first time"

Great day for the Initial Public Offering of GM... I may be wrong, but is GM a new company?

Initial I guess it would be since Motors Liquidation Co. was Formerly=General Motors Corp. until 7-2009

Not so good day MTLQQ @0.1764 down-0.0546 ( -23.64%)

What happened to the Initial GM 345,296 Stockholders Of Record for the first Initial Public Offering?

Pinksheet Business Description of MTLQQ A.K.A. GM IPO#1
After it sold substantially all of its assets in the section 363 sale to General Motors Company to create the ?new GM,? General Motors Corporation was renamed ?Motors Liquidation Company.? For the operations, assets and liabilities that were not transferred to General Motors Company,? the chapter 11 bankruptcy case will continue in order to resolve creditors' claims and wind down those operations in an orderly way.
To view the SEC & FINRA Investor alert concerning Motors Liquidation,
please click here: http://sec.gov/investor/alerts/bankruptcygmalert.htm.

MTLQQ Security Details
Share Structure
Market Value1 $107,685,730 a/o Nov 18, 2010
Shares Outstanding 610,463,321 a/o Oct 31, 2008

http://www.secinfo.com/d9jww.a2e6.htm

Anyone want to buy 610,463,321 shares of this stock MTLQQ for .17

Initially MTLQQ A.K.A. GM IPO#1, still holds $107,685,730 in sentimental value.
http://www.otcmarkets.com/stock/MTLQQ/company-info

Have a heart, just buy a few for America...
Who knows maybe in 50 years the stock certificates will be collectors items!

Out with the Old and in with the New.... Still excited about GM?

Maybe we should Demand Media Coverage of these SEC Corporate agreements that allow the Proceeds: $20.1 billion in the wrong hands again, again and maybe again!

General Motors Company GM : NYSE
Common Stock @ 34.19 Gained-1.19 ( 3.60%) Trade Time Nov 18, 2010

No not me, I'll wait until the next IPO.

My First Tweet, Tweet
http://www.equitiesgroup.com


Read more: http://www.businessinsider.com/worlds-largest-ipos-2010-11#comment-4ce668574bd7c8f720030000#ixzz15jLq9IkT

[marayatano]

No problem, glad to help. eom

[etzetrade]

Thanks, your valuable info clears a lot of my confusion.

[marayatano]

No distribution to senior unsecured creditors until a plan is confirmed.

My account is still listed as notes.

Q: What can holders of bonds that are identified on Wilmington Trust Company's notices expect with respect to payouts? Common stock in New GM, warrants, cash?

A: Persons holding bonds, notes, and debentures that are identified by the CUSIP numbers reflected on the front page of the Wilmington Trust Company notices are unsecured creditors of the estate of Motors Liquidation Company. Following the payment of priority claimants (if not satisfied though the "wind-down" budget provided by the U.S. Treasury), all unsecured creditors, including the bondholders, will ultimately receive a pro-rata share of the remaining assets of Motors Liquidation Company. Following the sale of substantially all of its assets to New General Motors in July 2009, the primary assets held by Motors Liquidation Company consist of (i) 10% of the common stock of New General Motors, and (ii) warrants to purchase up to 15% of common stock of New General Motors on a fully diluted basis. Through the liquidation process of Motors Liquidation Company, bondholders (together with all other unsecured creditors) will ultimately receive shares of the common stock and warrants held by Motors Liquidation Company.

Q: What is the dollar value of claims against the estate of Motors Liquidation Company? If the claims pool exceeds $35 billion, will additional stock be issued?

A: The number and amount of claims against the Debtors is currently unknown. November 30, 2009 was the bar date by which all proofs of claim against the Debtors were required to be filed. In the months following the passage of the bar date, the Debtors have begun the initial phases of resolving claims in order to determine the size of the creditor claim pool. Certain filed claims are likely to be disallowed. In the event that the total allowed general unsecured claims against the Debtors exceeds $35 billion, New General Motors has agreed to issue an additional 10,000,000 shares of common stock to Motors Liquidation Company (for ultimate distribution to its creditors).

Q: When can I expect a distribution from the bankruptcy estate?

A: On August 31, 2010, Motors Liquidation Company filed a plan of liquidation and disclosure statement with the Bankruptcy Court. Copies of the plan and disclosure statement are available on the section of this website entitled "Plan and Disclosure Statement." The plan and disclosure statement have not been approved by the Bankruptcy Court, and such approval is a prerequisite to the making of distributions from the bankruptcy estate. On October 21, 2010, the Bankruptcy Court conditionally approved the disclosure statement pending certain revisions and additional disclosures. To date, however, Motors Liquidation Company has not filed a revised version of the disclosure statement and final Bankruptcy Court approval is still pending. In addition, while Motors Liquidation Company initially indicated that it intended to seek approval of the plan prior to the end of calendar year 2010, no hearing with respect to confirmation of the plan has yet been scheduled. Wilmington Trust Company will provide further information on timing when such information becomes available.

Q: How does the New GM IPO impact the New GM stock held by Motors Liquidation Company?

A: Motors Liquidation Company holds 50 million shares of New GM common stock (approximately 10% of New GM common stock outstanding) and warrants to acquire approximately 91 million additional shares of New GM common stock (approximately 15% of New GM common stock on a fully diluted basis). In addition, if the total amount of allowed general unsecured claims against the Debtors exceeds $35 billion, Motors Liquidation Company may receive up to an additional 10 million shares of New GM common stock. The Debtors have previously indicated that such stock and warrants will be available for distribution to the Debtors' general unsecured creditors pursuant to a plan of liquidation. Motors Liquidation Company had the right to offer some or all of its New GM common stock and/or warrants in the IPO and consulted with the Official Committee of Unsecured Creditors (a representative body for all unsecured creditors on which Wilmington Trust sits) on whether or not to participate. Based upon the then available facts and circumstances, and upon a review of the detailed analysis of its professionals, the Official Committee of Unsecured Creditors determined that it was in the best interests of unsecured creditors to decline participation in the IPO. Among other reasons, the Official Committee of Unsecured Creditors determined that it was in the interests of individual creditors to retain the option to receive New GM securities (and the potential upside from any commensurate capital appreciation) or to liquidate the securities upon receipt for cash. Even though Motors Liquidation Company will not participate in the IPO, it is anticipated that the New GM common stock and warrants distributed to the Debtors' general unsecured creditors pursuant to a plan of liquidation will be freely tradable without registration under the securities laws or inclusion in the IPO.

[etzetrade]

Marayatano, have you old senior note been converted to new GM stock yet? If not, do you know when and what is the ratio and warrant? TIA

[puppydotcom]

how does this effect MTLQQ?

the old company

ZERO ..

[marayatano]

MTLQQ = Toast, imo/eom

[clownsj]

toilet paper is more valuable than mtlqq.

[onepennyman]

how does this effect MTLQQ?

[marayatano]

O M G... Look... They are pumping it up to the $32 to $33 range, up from $26 to $29.

Oversubscribed by about seven times now.

AP Source: GM to raise IPO stock price range
AP Source: Investor demand prompts GM to raise stock price range to $32 to $33 in Thursday IPO

Tom Krisher, AP Auto Writer, On Monday November 15, 2010, 8:25 pm

DETROIT (AP) -- Investor demand for General Motors' shares is so high that the automaker will raise the price range of its common stock to $32 to $33 when its initial public stock offering begins on Thursday, a person briefed on the sale said Monday night.

GM is also planning to sell 9 million more preferred shares than originally expected, the person said.

The final price will be set Wednesday after the stock markets close, but GM intends to announce the new range and the additional preferred shares on Tuesday morning in a filing with the U.S. Securities and Exchange Commission, said the person, who didn't want to be identified because the moves have not been officially announced.

Earlier this month GM said its owners, including the U.S. government, will sell 365 million common shares for $26 to $29 each. The company won't sell common shares, but had planned to sell 60 million preferred shares for $50 each.

But since then, investor demand has been so high that GM and bankers handling the deal have decided to raise the common stock price range and issue more preferred shares, the person said. The preferred stock price will stay at $50, but GM's total cost for those shares will remain about the same because it's reducing the expected dividend rate from a range of 5.5 to 6 percent to between 4.75 and 5.25 percent, the person said.

The preferred shares will be converted to common stock in 2013. Bankers have the option to sell roughly 55 million more common shares, although they have not yet decided to do that, the person said.

Orders for the common shares are now seven times higher than the number of shares being offered, said the person, who expects the banks to stop taking orders for the IPO on Tuesday afternoon, two days before the actual sale.

GM, just 16 months out of bankruptcy protection, has impressed analysts and investors with its third-straight quarterly profit and a prediction of much bigger earnings if U.S. auto sales continue to improve.

Any share price increase would certainly be a boon for GM's largest stockholder, the U.S. government, which is trying to get back the $50 billion it gave GM last year to get through restructuring.

"There is legitimate demand for this," said Scott Sweet, senior managing partner of the research firm IPO Boutique.

GM spokesman Selim Bingol and Treasury Department spokesman Mark Paustenbach would not comment on any possible price increases.

At the midpoint of the current common stock price range, $27.50, the sale would bring in just over $10 billion for the U.S. government and other GM owners, the Canadian and Ontario governments and a union health care trust fund. The U.S. government would get over $7 billion.

But if the share price rises to $33, the total figure jumps to $12 billion, with the U.S. government getting roughly $8.7 billion. The preferred shares could bring in $3.5 billion at $50 each.

By selling some of its shares in an IPO, the U.S. government would reduce its stake from 61 percent to 43 percent. That could drop to 35 percent if bankers take the option to sell more common shares.

That could ease animosity toward GM because of the government bailout, which the company said has irked some potential buyers and hurt its sales.

Ontario Finance Minister Dwight Duncan has said the federal and Ontario governments will sell about 30 million of their shares in GM.

GM, though, can't raise the share price too high because it could exceed limits placed on investors' orders, Sweet said.

Demand for the automaker's shares is rising as its financial outlook improves. Last week, GM announced a third-quarter net profit of $2 billion, bringing its earnings to a healthy $4.2 billion for the year. Also, in presentations to investors, GM said its debt and labor costs have been cut so much that it can break even at the low point in an auto sales slump. When sales fully recover, the company could make $17 billion to $19 billion per year pretax.

The possibility of a price increase comes during a week that could be the biggest for IPOs since 2007, according to investment adviser Renaissance Capital LLC. The IPO market has improved steadily since August 2009. The sector had been almost frozen for nearly a year after massive losses on mortgage bonds upended global credit markets.

Sweet wrote in a note to investors that two other IPOs slated for this week also have more orders than shares, management consultant Booz Allen Hamilton Inc., and the broker-dealer LPL Investment Holdings Inc.

Some of GM's investor demand is coming from overseas, including automaker SAIC, GM's government-owned partner in China, which may buy $500 million worth of shares. GM also has courted investment funds in the Middle East and Europe.

Foreign investment, which is common in the U.S. auto industry, could come with a political backlash because GM stock in the IPO is largely unavailable to individual buyers.

Brokerages such as Charles Schwab and Scottrade, which handle trades for smaller investors, aren't taking part in the GM offering. Fidelity has an agreement with GM underwriter Deutsche Bank to sell shares to retail investors. But to place an order, investors must have at least $500,000 in assets with Fidelity, make 36 trades a year or be a premium investor, which normally is for high net-worth clients.

AP Source: GM to raise IPO stock price range
AP Source: Investor demand prompts GM to raise stock price range to $32 to $33 in Thursday IPO

[MorningLightMountain]

is the usual MTLQQ "confusion play" still out there that, with people thinking/saying they will get a piece of new GM?????

[marayatano]

I know, I was just messin with you. Your right though, the Unions got the better end of the stick than the Creditors did.

BTW, according to the articles, GM's IPO is oversubscribed by 5 times the amount of shares available and the majority of the shares are going to institutional holdings.

So it may not be time to short if demand is that high.

BTW, everyone else, MTLQQ is NOT part of the new GM nor the IPO. Just in case anyone gets confused.

imo

[mkinhaw]

I like UM "union motors", as its partially
owned by the unions
pos
wonder if we should short this asap
MK

[marayatano]

New shares will be GM in the US and in Canada, the new symbol will be GMM.

imo

[mkinhaw]

New symbol UM, "union motors"
MK

[ryanngina]

the ipo is gonna open around 27$$ man,time will tell,by the way why are you people in this,do u have an equity comitty or whats the story?

[Hacktheripper]

I would look for a Double bottom tomorrow with a nice bounce.

Today's low .186

Will watch to see if this holds or not.

[Chili Palmer]

GM Hopes to Raise More Than $10 Billion in IPO:

General Motors will look to sell just over $10 billion worth of common stock and $3 billion of preferred stock in an initial public offering that would shift the U.S. government to a minority shareholder in the top U.S. automaker, people familiar with the matter said.

GM expects to sell 365 million common shares for $26 to $29 each and will file the terms in an updated prospectus with the U.S. Securities and Exchange Commission Tuesday, the sources said Monday. GM, which emerged from bankruptcy in July 2009 with the U.S. Treasury as its majority shareholder, is likely to sell a combined $1.5 billion to $2 billion stake to four or five sovereign wealth funds, one source said.

The sources declined to be named because the preparations for the IPO are not public.

The IPO would allow the U.S. Treasury to reduce its nearly 61 percent stake in the automaker to 43.3 percent, excluding the overallotment option, one of the sources said.

The governments of Canada and Ontario are expected to sell down their stake to 9.6 percent from 11.7 percent and the UAW VEBA trust is expected to sell down its stake to 15 percent from 17.5 percent, that source said.

GM is expected to begin its IPO roadshow Wednesday. It is expected to price its IPO on Nov. 17 and begin trading on the New York and Toronto stock exchanges on Nov. 18, the sources said.

The filing comes days after GM announced moves to strengthen its finances, including repaying $2.1 billion to U.S. taxpayers and making early payments to pension and retiree health plans.

GM will have two groups for the roadshow whose stops will include New York, Boston and key financial points in Europe, Asia and the Middle East, the sources said. Chief Executive Dan Akerson plans to shuttle between the two groups to be led by top GM executives, one of the sources said.

http://www.cnbc.com/id/39954560

[JammingJAY]

http://www.msnbc.msn.com/id/39954478/ns/business-autos/