Word: stocked
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Dates: during 2000-2009
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...stock has been delisted, dumped from the Dow, and is pretty much worthless. But with government backing, as they say, even pigs can fly. Indeed, just days after filing for bankruptcy, General Motors Corp. is already plotting a path beyond Chapter 11, including the sale of stranded assets and even an offering of new stock...
...principle shareholders of any new GM - the U.S. Treasury, Canada's federal government and the United Auto Workers (UAW) - are keenly interested in getting GM stock back into circulation. "There is a lot of interest from the future stakeholders ... to start the process of selling down the shares. All agree that it's important to make General Motors a publicly traded company," says Ray Young, GM's chief financial officer. The earliest it would happen, Young projects, is around the first or second quarter of 2010. (See pictures of the remains of Detroit...
...union got slightly more flexibility in the stock-sale terms negotiated for the Chrysler VEBA. Those terms say the VEBA can start selling stock within six months of any Chrysler IPO, or if Fiat becomes the majority owner, or by June 30, 2012. Though the VEBA could sell its stake to Fiat in a private deal anytime, Gettelfinger has suggested he would like to see an IPO as the best way to maximize the value of the shares...
...years. (Read "Lidia Bastianich Saves Our Dough.") Lansing and San Francisco Fed colleague Reuven Glick ran a simulation of what would happen if U.S. consumers followed a path similar to that of Japanese businesses in the 1990s. That was another episode of a great debt dump following a stock-and-real-estate bubble - it's one of the examples economists often turn to in trying to understand what's going on now. Lansing and Glick figured that for U.S. households to resume a debt-to-income ratio of 100% over the next decade, the savings rate would have to nearly...
Still, it is likely to be a while before we hit that new normal. Rosenberg points out that during the Great Depression, the worst of GDP contraction and stock-market losses had hit by the early 1930s. And yet the malaise carried on for the rest of the decade. Unemployment hung above 15%, and people didn't spend money. "Even people who had the means didn't go on buying sprees. That's not how they lived," says Rosenberg. We may now be in for some of the same...