Terry Corbell
“Francis Gaskins, a leading IPO expert, is not wowed by the automotive manufacturer's IPO – to say the least,” writes Mr. Corbell. "He says Wall Street and investors should not finance the deal."
“That’s despite GM being profitable in the first two quarters of 2010 -- Q2 sales of $33.2 billion led to a $1.3 billion profit,” he says. He publishes IPOdesktop.com, which is called “Forbes Best IPO Site.”
Mr. Gaskins tells The Biz Coach says the GM IPO should not be valued higher than Ford. He says the offering implies a “big loss to taxpayers.”
Mr. Corbell writes GM’s IPO would probably have to raise$70 billion to fully pay back taxpayers and all stakeholders.
“The government has a 60.8 percent stake in GM after giving the company $50 billion in 2009,” he explains. “The United Auto Workers Union has a 17.5 percent ownership, but $2.1 billion in preferred stock is owned by the government and will not be included in the IPO.”
He adds the company is anxious to return to Wall Street by shedding its nickname, “Government Motors.” The manufacturer’
“I would say don’t do the IPO,” says Mr. Gaskins.
The Biz Coach report: http://www.bizcoachinfo.com/
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Biz Coach Terry Corbell is a business-performance consultant and profit professional. As a longtime columnist, he publishes performance-
He is also published online at the Money News page of CBS-TV Seattle affiliate, KIRO.
The New York Times referred to him in "Been there... Done That... Here's how"; Mr. Corbell has more than 30 years experience as a profit professional and business-performance consultant.
He is an entertaining public speaker. His seminars are highly interactive, informative and fun.
His full-range of results-oriented training seminars and classes include:
- The Seven Steps to Higher Sales
- Finance for Non-Financial Employees
- Generating Profits in Customer Service, Sales and Teamwork
- Managing for Success & Developing Leadership
- Harassment: How to Avoid the EEOC Crosshairs
- Creating Change and Managing Growth
Photo:
http://www.prlog.org/
