bye GM, and bye new camaro
11-11-2008, 02:05 PM
#41
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This sucks, I think I would cry if it comes to this. But it will never happen, they employ too many people, and there are way too many resources that go to them. Remember, its not just the employees at the factories that make the cars, there are the steel companies, parts manufacturers like Dephi, GMAC insurence, millions of pensions and much more. While ****** Toyota sits perfectly while they get subsidies from the Gov. to build their plants, no unions, no pensions, all profit. **** IMPORTS!! Their cheating Americans!! Look it up!!
11-11-2008, 02:15 PM
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11-11-2008, 07:18 PM
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well i hope u bought it after the 25% loss it took today...
i was thinking about buying some GM stock cuz i thought they might have hit rock bottom...but damn...they might go under and it might be worth 0...
how many shares did you buy...? a lot of people are bailing the stock market due to te economy and that obama said he is gonna raise the capital gains tax (hopefully he holds that one off)...
look at how cheap some 2005 vettes are right now...lol...they are basically brand new
http://www.autotrader.com/fyc/search...irst_record=26
i was thinking about buying some GM stock cuz i thought they might have hit rock bottom...but damn...they might go under and it might be worth 0...
how many shares did you buy...? a lot of people are bailing the stock market due to te economy and that obama said he is gonna raise the capital gains tax (hopefully he holds that one off)...
look at how cheap some 2005 vettes are right now...lol...they are basically brand new
http://www.autotrader.com/fyc/search...irst_record=26
it ended at 2.92 today..
2 guys at work bought 7k and 10k worth of shares awhile ago at about 6.50
OUCH! they are devastated.. ive always wanted to buy GM stock jus for the sake of having it but it was about $40 or so ashare about a year ago so i didnt bother really (n glaad i didnt) but im pretty optimistic that theyll pull through,, gov.t wont let them go down..
11-12-2008, 01:39 PM
#46
short this one. gm's a loooooooooooooong way from the light at the end of the tunnel. granted, their stock price is driven by a lot of speculation right now, but can you honestly say that they are undervalued at $4 a share? you can buy into any strong company right now and be pretty much guaranteed double-digit gains within 2-3 years. why gm?
11-12-2008, 06:59 PM
#48
they arent the only ones who need a pay cut. how do you feel about the higher-ups making three to four times what the union workers make. plus the benifits and bonuses. it's not all about the unions. keep that in mind.
11-13-2008, 09:57 AM
#49
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GM sell over 10 million cars a year, Toyota sell almost the same right behind them, so the public hasnt spoken, cause everyone still buys GM. Their not number 1 in sales every year for nothing. Toyota makes a $2000 profit on every car they build, Gm doesnt make a profit on any car under $25k, thats why they push to sell their trucks. Why? Cause GM has millions of pensions to pay for, as well as current employees and their benefits. Thats why their in the news all the time about having money problems, its not because of not selling cars, but all the pensions and employees. Now the DEMOCRATS said theyll give them the money only if they control the company...... another example of socialism from the democratic party.
besides, i think GM would want that. they cant get rid of the unions on their own.
11-13-2008, 10:17 AM
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^ you realize GM hasnt made a profit in car sales since 2003, and that was only because they sold off discontinued operations, or else they would have been negative since like 2000 or something. The only profits they were making came from GMAC mortgages, and they dont have those anymore. They just have way too many liabilities at this point to turn a profit, regardless of whether or not they have led car sales. And like I said, even if they were to start miraculously making profits, they are 58 Billion in the hole right now. They are going to have to sell off a LOT of assets and probably get help from the GOV in order to fix this, or go under. In other words, The 2011 Camaro will probably be a LS3 powered Toyota..... BTW you can look up all this information yourself, I'm not making it up.
I understand what your saying, but that is not the point. Every import company that makes cars in America gets subsidies from the gov. so they dont have to pay to build their factories, is that fair? No. Import companies also dont have unions and pensions for their employees, lower wages as well. Something obviously has to be done on the employee side of GM cause thats whats killing them, but lets not give a free pass to imports to give them an equal chance. Just like always, minority companies getting what they want taking advantage of the american people. Just like Mercedes benz, the only reason why they bought chrysler was to get clearence to be able to build their cars in america, to obtain factories from chrysler. Then guess what, they turned around and sold them, domestic brands are just bulding cars while imports abuse are system and get an easy way up the latter, while everyone are thinking they are god. Bullshit.
11-13-2008, 10:36 AM
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all i gotta say is screw the bailouts...it seems the gov. is trying to outlaw losses now...people/companies are going to take hits, lets not set up a planned economy now, thats what brought down the soviet union and its definately not gonna work here...
btw...where is the U.S. government getting its money?!?! we talk about this money but they wont let us know where it is coming from...? what banks? or are they just printing c-notes and passingthem out...
o yea, screw AIG for having another party...there goes another 400k of tax payers dollars...i just got one question...where was my invite??? i'd like to bang some hoes while sippin on some Cristal
btw...where is the U.S. government getting its money?!?! we talk about this money but they wont let us know where it is coming from...? what banks? or are they just printing c-notes and passingthem out...
o yea, screw AIG for having another party...there goes another 400k of tax payers dollars...i just got one question...where was my invite??? i'd like to bang some hoes while sippin on some Cristal
11-13-2008, 11:02 AM
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I understand what your saying, but that is not the point. Every import company that makes cars in America gets subsidies from the gov. so they dont have to pay to build their factories, is that fair? No. Import companies also dont have unions and pensions for their employees, lower wages as well. Something obviously has to be done on the employee side of GM cause thats whats killing them, but lets not give a free pass to imports to give them an equal chance. Just like always, minority companies getting what they want taking advantage of the american people. Just like Mercedes benz, the only reason why they bought chrysler was to get clearence to be able to build their cars in america, to obtain factories from chrysler. Then guess what, they turned around and sold them, domestic brands are just bulding cars while imports abuse are system and get an easy way up the latter, while everyone are thinking they are god. Bullshit.
I guess i am torn about what we should do (and i say we because its our tax money). think of how destating it would be to have all three companies die. every town that has a plant, the town is built around it, therefore it would kill off those towns. our already horrible economy would turn to catastrophic levels. on the other hand, whats free enterprise? as a republican im a fan of less government control. let the strong dogs eat the weak ones (did i just coin a new phrase?)
11-13-2008, 12:07 PM
#53
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while i agree, these import companies are giving jobs to americans. I would rather buy a nissan thats made in Tennessee than one made in japan or France (renault owns them).
I guess i am torn about what we should do (and i say we because its our tax money). think of how destating it would be to have all three companies die. every town that has a plant, the town is built around it, therefore it would kill off those towns. our already horrible economy would turn to catastrophic levels. on the other hand, whats free enterprise? as a republican im a fan of less government control. let the strong dogs eat the weak ones (did i just coin a new phrase?)
I guess i am torn about what we should do (and i say we because its our tax money). think of how destating it would be to have all three companies die. every town that has a plant, the town is built around it, therefore it would kill off those towns. our already horrible economy would turn to catastrophic levels. on the other hand, whats free enterprise? as a republican im a fan of less government control. let the strong dogs eat the weak ones (did i just coin a new phrase?)
1. Reorganize GM and have them acquire Dodge-Chrysler corporation and slowely kill off the brand. Gm and Ford would pickup some market share. If Gm fails Ford and Dodge will also go down in flames with them. For full liquidation you will see 2008 Denails with a MSRP of $50,000 sell for $20,000-$25,000. Maybe even see Z06's for $40k brand new. C6's for $25,000. If all that happened it would also hurt every other car builder for at least 2 years until all the inventory is liquidated. You could even see mass layoffs at Toyota,Nissan and Honda until the Gm inventory is gone which we know employs ton's of americans. It would also devostate the banks because the repo's and lease returns wouldn't fetch anything at the auction.
2. Offer 2.9% or lower home loans to people that actually have good credit. Many investors will step in and start buying up homes to rent out. This will fix the banking industry and will have home values go in the right direction
3. Vote out the people responsible for this mess. 75% of them are dems if you thank that's b.s you really need to do some research. I will be the 1st one to say Bush was an awful president. I didn't vote for him or the dem candidates. He let all this go on from 2002-2006 and said nothing or was just to stupid to realize what was going all with all these investors selling bags of crap to each other. The dems and Clinton policy caused this housing bubble and false economy that we lived in for years.
11-13-2008, 12:36 PM
#54
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Ding ding ding, we have a winner. The printing press is working overtime these days.
If the last 5 weeks have not clearly illustrated the house of cards our financial system is, I don't know what will. Another fun day on Wall St...........
