$1.27 a share, Its lowest since April of 1933...
http://jalopnik.com/5165566/127-per-share-the-general-motors-of-1933
http://jalopnik.com/5165566/127-per-share-the-general-motors-of-1933
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why? to lose whatever money you spend on buying their stock? ...
theyll survive and become bigger then ever, just give them time
So... how much GM stock do you have?
Well, considering the Goverment will just keep bailing them out, may be safer than having money in banks at some point :rollpicard:
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.
Didn't the government just state that they don't believe they have the funds to provide the FDIC insurance?
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?
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.