Clowns is right and I myself have benec aught up in a couple over the years and NOT ONE EVER turned out beneficial for shareholders.
As he says, it is a last ditch attempt to get a new share price and investment cash into that new stock share to push prices up, but all I ever saw, everytime they were simply shorted into oblivion; and those who remain ended up trading on OTC. Fox Petroleum Corp is one that comes to mind a couple years ago that did a Reverse Split that did this and ran massive PR when in the end, it was found ONLY the Corp insiders kept selling shares each time new buying interest came out until the new stock price (which did gap way up initially) fell so fats to nothing in the end.. But many investors are gullible and go on hope not common sense..
Time to move on and forget GM and anything of what America used to be- The extremist liberals are seeing to this and this is all playing into the hands of a New World Order where a few become very powerful in the government forcing people/corps to come to them and become nationalized to exist in some form, but it will NEVER be as it was in past decades again..
The BIGGEST problem EVERYONE needs to realize including Obama's administration and CNBC and other news pundits is how in the hell can you expect a former world power society to exist and grow when there are more people now unemployed than ever in nearly 80 years!!!! The numbers being reported especially from retail are not above board and being spun as more people than ever cannot afford to buy things they once used to and just in my area of Hickory, NC, a 3rd major automobile dealership went bankrupt last week because people are not buying vehicles (new or used) or the new financing rules are so strict it disqualifies a majority of working people regardless they can afford the car... And the adds being run on TV are really wastes of monies for the auto makers & dealers as banks are NOT lending for homes or cars as the spin tries to portray folks... Also a 40+ year old housing manufacturer plant & sales offices in Statesville, NC for the USA just closed up here citing no sales and no financing for borrowers being granted.
