GM Stock Trading Halted

[Arkaign]

I got in on a bunch of GM stock @ 4.55. Hopefully they bounce up again Ah, no biggie either way, but it'd be nice.

 

[K1052]

Now GM is saying June 09. Though they have some assets they can sell off to extend that some and if they can get access to Chrysler's piggy bank before it goes tits up that would get them into 2010 at least.

 

[Arkaign]

The perfect storm for GM victory would be to delay the bailout until they can acquire Chrysler, then get the bailout + fold up Chrysler assets. Either way, I don't see Chrysler surviving.

 

[EvilYoda]

Yesterday, I sent emails to my parents (one works for EDS, one for GM down in the RenCen) asking if I should start rearranging my living room and look for a futon

We're still just hoping that my dad gets offered early-retirement soon as he's been waiting to get out of there and then they can try to sell the house and move to California. Fun times.

 

[PepePeru]

has GM stopped paying a dividend?

 

[LS21]

Originally posted by: Sphexi
So....now is the time to be looking for an awesome deal on a new car then.

serious

i can has cadillac cts-v for 30k?

 

[V00DOO]

Originally posted by: ducci
This is hilarious.

Expect them to get bailed out by the federal government in the near future.

Didn't GM just received part of a $25 Billion out by our gov't? Wow they burn money like the Hummers burn gas.

 

[Squisher]

Originally posted by: EvilYoda
Yesterday, I sent emails to my parents (one works for EDS, one for GM down in the RenCen) asking if I should start rearranging my living room and look for a futon

We're still just hoping that my dad gets offered early-retirement soon as he's been waiting to get out of there and then they can try to sell the house and move to California. Fun times.

Do you have room for a tent and a latrine? I can sleep anywhere.

 

[Ktulu]

Originally posted by: V00DOO

Originally posted by: ducci
This is hilarious.

Expect them to get bailed out by the federal government in the near future.

Didn't GM just received part of a $25 Billion out by our gov't? Wow they burn money like the Hummers burn gas.

It hasn't been dispursed yet.

 

[Squisher]

Originally posted by: LS21

Originally posted by: Sphexi
So....now is the time to be looking for an awesome deal on a new car then.

serious

i can has cadillac cts-v for 30k?

I've got a '02 Z28 with 35K on it I'll probably be looking to sell soon.

Cheap $11K

 

[Arkaign]

Originally posted by: Squisher

Originally posted by: LS21

Originally posted by: Sphexi
So....now is the time to be looking for an awesome deal on a new car then.

serious

i can has cadillac cts-v for 30k?

I've got a '02 Z28 with 35K on it I'll probably be looking to sell soon.

Cheap $11K

Whipple it!!!! YEAH BABY!!!!

 

[sygyzy]

Originally posted by: PricklyPete

Originally posted by: K1052
Ford doesn't seem to far away from that scenario at the rate they're burning cash.

Chrysler will probably bleed out by early next year too if GM doesn't by them. GM will probably stagger through somehow but its not going to be pretty.

Honestly I can't believe Chrysler is still around. Who the hell ant Cerebrus thought it was a good idea. Maybe I'm an economic idiot...but that seemed like a horrible idea from day one. Who knows...maybe they'll prove me wrong if they get government funding and somehow the company rides the wave to higher worth.

I think at this point, we should be more concerned with the potential loss of jobs than company bashing. C'mon PricklyPete, think of others.

 

[Chunkee]

I do not see the price dropping much at all...still really very high, hard to get the loans (not for me), but shit, the prices are still way too high...you think they would at least try and recoup some of the money by reducing the sale price and offering a good rate for those who can get it.

jC

 

[edro]

Paying assembly line workers $30/hour + pension = FAIL!

 

[PricklyPete]

Originally posted by: sygyzy

Originally posted by: PricklyPete

Originally posted by: K1052
Ford doesn't seem to far away from that scenario at the rate they're burning cash.

Chrysler will probably bleed out by early next year too if GM doesn't by them. GM will probably stagger through somehow but its not going to be pretty.

Honestly I can't believe Chrysler is still around. Who the hell ant Cerebrus thought it was a good idea. Maybe I'm an economic idiot...but that seemed like a horrible idea from day one. Who knows...maybe they'll prove me wrong if they get government funding and somehow the company rides the wave to higher worth.

I think at this point, we should be more concerned with the potential loss of jobs than company bashing. C'mon PricklyPete, think of others.

Hey man...I think I've already said in this thread that I'm rooting for the American Auto business...I'm just surprised Chrysler has made it this long.

 

[sao123]

Originally posted by: Jumpem

Originally posted by: broon
Made by non-union labor.

This is the key.

Wait... so skilled labor doesnt deserve to organize to ensure they are approprietly compensated in pay & benefits for their efforts?

IMO it all the upper exectuves and management which is overpaid, not the labor force.

 

[Linflas]

Originally posted by: sao123

Originally posted by: Jumpem

Originally posted by: broon
Made by non-union labor.

This is the key.

Wait... so skilled labor doesnt deserve to organize to ensure they are approprietly compensated in pay & benefits for their efforts?

IMO it all the upper exectuves and management which is overpaid, not the labor force.

As far as I am concerned they have every right to organize but the corollary is that the company has every right to hire non-union labor if they so desire.

 

[techs]

Originally posted by: edro
Paying assembly line workers $30/hour + pension = FAIL!

Yeah, but thats just about what Toyata and Honda are paying their US workers.
Once the American automakers go bust, look for two things to happen:
1) Foreign automakers in the US will lower the pay of their employees because now they won't have to worry about the United Auto Workers
2) Look for the foreign automakers to start closing US plants. They won't need them because the only reason they built them was for political power to keep the US from enacting tariffs, etc.

After all, why the f*ck would an automaker want to make cars in the US, even paying their workers minimum wage, when they can get Chinese slaves for a dollar an hour?

 

[jhu]

what exactly would be the problem if gm filed for bankruptcy? why don't they want to file?

 

[FDF12389]

Originally posted by: sao123

Originally posted by: Jumpem

Originally posted by: broon
Made by non-union labor.

This is the key.

Wait... so skilled labor doesnt deserve to organize to ensure they are approprietly compensated in pay & benefits for their efforts?

IMO it all the upper exectuves and management which is overpaid, not the labor force.

If I have a bad employee I want to fire their ass, the union makes it too easy for lazy people to keep their jobs.

 

[sao123]

Originally posted by: Linflas

Originally posted by: sao123

Originally posted by: Jumpem

Originally posted by: broon
Made by non-union labor.

This is the key.

Wait... so skilled labor doesnt deserve to organize to ensure they are approprietly compensated in pay & benefits for their efforts?

IMO it all the upper exectuves and management which is overpaid, not the labor force.

As far as I am concerned they have every right to organize but the corollary is that the company has every right to hire non-union labor if they so desire.

every worker is non union when they get hired... The employee has the opportunity to join or not join the union after they are hired.

In order for what you say to be true, the company would have to stop the worker form joining the union post hiring. That would eb illegal.

 

[ponyo]

Cliffs:

GM: We're doomed and will be bankrupt unless the govt bails us out. Even then, unless the market for cars in US and Europe comes back, we will likely fail even with the bailout.

 

[ric1287]

Originally posted by: sao123

Originally posted by: Linflas

Originally posted by: sao123

Originally posted by: Jumpem

Originally posted by: broon
Made by non-union labor.

This is the key.

Wait... so skilled labor doesnt deserve to organize to ensure they are approprietly compensated in pay & benefits for their efforts?

IMO it all the upper exectuves and management which is overpaid, not the labor force.

As far as I am concerned they have every right to organize but the corollary is that the company has every right to hire non-union labor if they so desire.

every worker is non union when they get hired... The employee has the opportunity to join or not join the union after they are hired.

In order for what you say to be true, the company would have to stop the worker form joining the union post hiring. That would eb illegal.

Which is why he said it should be that way, not that it is that way.

 

[Linflas]

Originally posted by: sao123

Originally posted by: Linflas

Originally posted by: sao123

Originally posted by: Jumpem

Originally posted by: broon
Made by non-union labor.

This is the key.

Wait... so skilled labor doesnt deserve to organize to ensure they are approprietly compensated in pay & benefits for their efforts?

IMO it all the upper exectuves and management which is overpaid, not the labor force.

As far as I am concerned they have every right to organize but the corollary is that the company has every right to hire non-union labor if they so desire.

every worker is non union when they get hired... The employee has the opportunity to join or not join the union after they are hired.

In order for what you say to be true, the company would have to stop the worker form joining the union post hiring. That would eb illegal.

Huh? For what I say to be true all that would have to happen is that the moment workers go on strike the company would be free to hire replacements rather than deal with the union if they so desire. Typically what happens is that union thugs intimidate "scabs" with a wink and nod from the authorities much in the same way companies used to intimidate union organizers in the 19th century again with a wink and nod from the authorities. Neither situation is right and should not be allowed.

 

[ponyo]

You guys are fighting over unions and non-unions, etc. None of this would matter if GM can sell cars. Currently, cars are not selling. This is not because it's union or non-union. Demand is gone because of the economic mess we're in. People don't want to buy cars right now when they're having trouble paying for their house and bills. They're afraid they're going to lose their job. The small number of people who wants to buy GM cars are having trouble getting financing from GMAC or the banks. Bottom line is the demand for cars have shrunk and unless that demand comes back, marginal players are toast.