Stock Trading and Other Things

What would you tell a guy about old GM stock options?

He has a ton of options to buy the old GM stock at 45 to 75 dollars per share. They would seem to be absolutely worthless. Some of them do not expire till 2018. I told him I'd get back to him.

Public Comments

1. Options? Who issued these options? GM? Those options may have become worthless in bankruptcy. There is no secondary market for GM. The stock is desisted.

The left over junk in bankruptcy is Motors Liquidation Corp. Note: This has NOTHING to do with general Motors (GM). If GM sells 1 or 80 billion cars and makes any money, MTLQQ will get 0.00 benefit from that.

General Motors Q&A Post History
http://profiles.yahoo.com/blog/CUXTCCBSBYDZODXWGYK2IZDOOI?eid=X9TWOKU6mH3DlDuSmFF6N.j0BdvPzuLMzmNLLJo5fz9WOUlr_A

Motors Liquidation Company (MTLQQ) FAQ
http://profiles.yahoo.com/blog/CUXTCCBSBYDZODXWGYK2IZDOOI?eid=lX6f2Ns2nX0E2iGl.mpevYTDDicSgI4REWDIxIAlkGlf.vrlHw

If these options were acquired from being an employee at GM, I would call the HR dept and ask who handles "cashless options" or ESOP shares. They will tell you if there is anything you can do with these.

FYI:
You won't be entitled to ever owning any GM stock now or in the future. MTLQQ will eventually cease trading once bankruptcy court has been satisfied on any outstanding issues with MTLQQ stock.

ESOP
http://www.nceo.org/main/article.php/id/8/

2. They are worthless.