David Einhorn’s GM timing is terrible (GM)
|05/11/2017||Posted by BusinessMediaguide.Com under General World News||
Between General Motors’ management and board of directors and activist hedge fund Greenlight Capital, the battle lines have now been clearly drawn going into GM’s shareholder meeting early next month.
Greenlight’s David Einhorn, who controls 3.6% of the carmaker’s stock, has released an extensive proposal in which he lays out the case of dividing existing GM shares into two classes of stock — dividend and growth — to unlock value and address GM’s lackluster market performance during a bull market and US auto sales boom.
Einhorn points to GM price-to-earnings ratio of 5.4x as the lowest in the S&P 500, read more >>>