GM.BAILOUT closed at $1 this morning. The US Treasury has loaned GM $4 billion and has committed to another loan of $5.4 billion on January 16.
Thanks for your patience on this contract. Onward and upwards!
Showing posts with label announcement. Show all posts
Showing posts with label announcement. Show all posts
Friday, January 9, 2009
Sunday, November 9, 2008
PM Stock Closing
We are very aware that the election result appears decisive and we are as eager as you to close the PM stocks and pay out its value.
However, it is important that they be closed once a result is beyond any doubt, and right now it is not.
There are two sources of uncertainty at this time. The first is the 220,000 special votes, which could remove as many as two seats from National in the next few days. Special votes do not tend to lift all boats equally, and have historically favoured the Green Party in particular. I believe special votes will be counted in the few few days. For an explanation of how National could lose up to two seats from special votes, see here.
The second source of uncertainty is coalition negotiations. It is possible a coalition partner will make outrageous demands that jeopardise coalition building.
It is likely these uncertainties will be resolved by the end of next week - although nothing is certain in MMP. Until then we will not close the PM stocks. Obviously, there is not enough uncertainty to prevent Helen Clark and Michael Cullen from stepping down - but the worst nightmare for a prediction market is to pay out on an event that does not in fact go on to happen.
If you wish close out your position ahead of the stock closing, you may do so at any time on the open market.
Thank you for your patience.
However, it is important that they be closed once a result is beyond any doubt, and right now it is not.
There are two sources of uncertainty at this time. The first is the 220,000 special votes, which could remove as many as two seats from National in the next few days. Special votes do not tend to lift all boats equally, and have historically favoured the Green Party in particular. I believe special votes will be counted in the few few days. For an explanation of how National could lose up to two seats from special votes, see here.
The second source of uncertainty is coalition negotiations. It is possible a coalition partner will make outrageous demands that jeopardise coalition building.
It is likely these uncertainties will be resolved by the end of next week - although nothing is certain in MMP. Until then we will not close the PM stocks. Obviously, there is not enough uncertainty to prevent Helen Clark and Michael Cullen from stepping down - but the worst nightmare for a prediction market is to pay out on an event that does not in fact go on to happen.
If you wish close out your position ahead of the stock closing, you may do so at any time on the open market.
Thank you for your patience.
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