Time to buy GM stock

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Dasfinc

Dasfinc

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why? to lose whatever money you spend on buying their stock? ...
Well, considering the Goverment will just keep bailing them out, may be safer than having money in banks at some point :rollpicard:
 

Mook

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i believe obama recently just told GM to fuck off
 

Sprayin

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I think its a good time to buy, if you can stand to watch it drop a little bit before it goes back up. I dont think there is a chance that they will go under.
 
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wanablaze

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Didn't the government just state that they don't believe they have the funds to provide the FDIC insurance?
 

Smoke

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GM owes $28,000,000,000 in debt.You buy their stock if you wanna-im waiting on a liquidation deal for an '09 Solstice GXP :).
 

sickmint79

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Didn't the government just state that they don't believe they have the funds to provide the FDIC insurance?
the FDIC itself is undercapitalized... and the government always has enough funds because they will just borrow money from you and your grandkids or they'll steal it through the stealthy tax of inflation.
 

Diavolo

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If it was the perfect time to buy, then it wouldn't be that low and falling. If GM has to file for any form of bankruptcy, common shareholders will be wiped out.
 

Poopshinanigans

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so they going to start with the dividends for all the profit....oh wait. :ugh:
 

Primalzer

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I don't even want to think about what the economy would do if GM went under. I mean how many people are employed by GM alone. Then how many businesses hinge on GM staying afloat? And all of their jobs are gone when GM goes under. If people think the economy is bad now, and GM goes under, just wait.
 

sickmint79

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yeah because it would be so much better for the economy if a little bit of everyone else's pay was stolen so that it could be given to GM to continue to produce market uncompetitive cars.
 

RebelTJ

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Sadly, even though I am pro-union for the right reasons, the UAW has severely fucked over all domestic auto companies...

If they'd see that their jobs are in serious jeopardy, they might offer to take a minor pay and benefit cut to reinvest into their respective companies and save their jobs...

but, it would seem too simple, wouldn't it? :dunno:
 

Poopshinanigans

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Sadly, even though I am pro-union for the right reasons, the UAW has severely fucked over all domestic auto companies...

If they'd see that their jobs are in serious jeopardy, they might offer to take a minor pay and benefit cut to reinvest into their respective companies and save their jobs...

but, it would seem too simple, wouldn't it? :dunno:
Yeah they could do all that stuff, but then where would that leave the union? The union doesn't want to become obsolete like GM might. When is their contract up anyways? The big three should just lay off all the union workers, hire them back as non-union and call it quits for the UAW.
 

Primalzer

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yeah because it would be so much better for the economy if a little bit of everyone else's pay was stolen so that it could be given to GM to continue to produce market uncompetitive cars.
You know that they do? Quit paying these fucking retirees $50K a year! THAT is where GM is losing all of their money. You have to blame the UAW for putting GM in the position of having to pay these people to retire at 55 with HUGE pensions and benefits. Then you have to blame GM and the rest of the American automakers for letting it happen. Yeah no one is buying their products, but that can't be used as an arguement, because NO ONE is buying anything. Car sales are down 40+% in the US, total, not just GM. When a company starts off BILLIONS in the hole because they have to pay off retirement funds and people that don't even work for the company anymore, that's when you know you have a poor business plan. Get someone in there who's gonna tell these retirees to fuck off, buy out their pension plan so GM can restructure their company. Then fire all the people that are sitting on their asses maybe watching some machine do all the work and getting paid $30 an hour, when in all honesty they are probably just reading the paper. Then fire the supervisor that is watching that guy watching the machine and getting $50 an hour. Then fire the manager that is getting paid almost 6 figures to manage over 6 whole people. Take a tour of the Chrysler engine plant in Kenosha, and you'll see what I mean.
 

sickmint79

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You know that they do? Quit paying these fucking retirees $50K a year! THAT is where GM is losing all of their money. You have to blame the UAW for putting GM in the position of having to pay these people to retire at 55 with HUGE pensions and benefits. Then you have to blame GM and the rest of the American automakers for letting it happen. Yeah no one is buying their products, but that can't be used as an arguement, because NO ONE is buying anything. Car sales are down 40+% in the US, total, not just GM.
sure but other companies health is a lot better than theirs. so they must be doing something wrong.

When a company starts off BILLIONS in the hole because they have to pay off retirement funds and people that don't even work for the company anymore, that's when you know you have a poor business plan. Get someone in there who's gonna tell these retirees to fuck off, buy out their pension plan so GM can restructure their company. Then fire all the people that are sitting on their asses maybe watching some machine do all the work and getting paid $30 an hour, when in all honesty they are probably just reading the paper. Then fire the supervisor that is watching that guy watching the machine and getting $50 an hour. Then fire the manager that is getting paid almost 6 figures to manage over 6 whole people. Take a tour of the Chrysler engine plant in Kenosha, and you'll see what I mean.
declare bankruptcy and all of these things can be done!
 

Smoke

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Its not all the UAW's fault.
Look at why the Camry is such a bestseller-they revise the car completely every 4 years like clockwork.

Compare that to the Impala, which is still on the same W-body platform that GM's been making since the late 80's.The G6 just recently got facelifted since its introduction in 2006.

By itslef its not a deal killer, but when you combine long model runs + weak resale value, smart buyers wont get a GM car new-they'll wait until its dropped 5 grand from some other sucker eating the resale hit , then buy it for less.Or wait until its been out 5 years to scoop em up with a huge incentive.

Add in the LIM gasket defects which affected a LOT of their moneymaker cars, and their SUVs crapping sun gears, plus the above and all the debt means EVEN IF GM gets the bailout funds, they may not survive anyways-the billions will only sustain the company temporarily , after which theyll probably fold anyways.
 

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