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11-09-2008, 02:50 AM
http://biz.yahoo.com/ap/081109/bush_automakers.htmlDemocrats want Bush to help ailing automakers
Sunday November 9, 1:55 am ET
By Deb Riechmann, Associated Press Writer
Reid, Pelosi ask Treasury to provide temporary help to automakers facing economic struggles
"We're in the money....... we're in the money......"
11-10-2008, 01:42 PM
Problem is they have both dropped today. We just bought some Ford this morning, but should have waited a bit longer. This might be a good time for some GM. It really dived (as of a half hour ago, need to check again).Originally Posted by OwlMBA
11-10-2008, 04:05 PM
GM down 25% as of 2:40pm. When this dog gets to a $1, I might be interested. The market is too volatile to try and pick a bottom in my opinion.
11-10-2008, 04:36 PM
You may want to sell:
GM shares plunge after analyst sees them hitting zeroLinkNEW YORK (AFP) – General Motors shares plunged more than 30 percent Monday after an analyst forecast their price would fall to zero, saying that even if there is a government bailout of the auto giant, shareholders would not benefit.
"We are lowering our target on GM equity to zero dollars," the Deutsche Bank report said.
"Even if GM succeeds in averting a bankruptcy, we believe that the company's future path is likely to be bankruptcy-like," it said.
"While we believe that GM's secured creditors may get a par recovery, unsecured creditors may get very low recovery. Equity shareholders are unlikely to get anything."
This is just not good.
11-10-2008, 04:45 PM
GMs not going away. Maybe the UAW will buy them?or maybe their rich Aunt Nancy and Uncle Harry will buy it for them.
11-10-2008, 10:58 PM
You're right. The broker told me about Arch Coal---when it was in the mid 50's, after plummeting from the 80's. Now it's about 20, had gone down to 15. I would have hated to have bought it at 80. :eek:
I've been watching the coal companies for months, well, since July, when he first told me about it. We've decided to just use Scottrade for those $7 trades. The broker just charged a total of $86 to sell a little over $3k of my stock, and it was my idea, no advice given by him.
11-10-2008, 10:58 PM
You buy on the way down, not sell, dummy.
GM and Ford aren't going anywhere. The Dems are too in bed with the Unions. It will be painful until obama is sworn in, but then its smooth sailing.
11-11-2008, 12:35 AM
MSM money has an article on GM stating that even with a bailout the stock is going lower. Although the company will survive, the stockholders will get hosed and the stock might go down to zero.
BTW, Toyota sales dropped 30%. With a recession, big ticket items like auto sales are going down. The infusion of cash will only keep a company like GM's head above water. In order for the stock to go up, sales of their vehicles will have to start increasing which won't happen anytime soon.
If I was going to buy anything, I would short financials and consumer ETF's
Last edited by lacarnut; 11-11-2008 at 12:53 AM.
11-11-2008, 05:08 PM
Nancy rides to the rescue. LINK Should we feel bad?
11-11-2008, 05:32 PM
Since Pelosi and dirty Harry have tried to castrate Prez Bush from the 1st day he held office, he should play hardball with these yo yo's tying this aid bill to one of his pet projects.
I think the economy is going to get worse before it gets better. Lack of confidence in the market is the reason you see these wild swings in stocks. Too much volatility is not for the faint at heart. I would not touch any consumer stock with a 10 foot pole especially the autos.
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