GM Tangible Book Value?

[mradigan747]

I am curious about tangible book value. Many people use this metric as an insurance metric to ensure that their investment is secure against the assets of a company. If GM had a "tangible book value", and the metric is accurate, why would common stockholders get nothing since the liquidation process should net sales? I understand the creditors should recieve their share, but shouldn't the common stockholder recieve something since they had a positive TBV?

 

[ALL]

According to Yahoo, GM has a negative net worth of $91 Billion.

Nothing left for common stockholders.