GM Stock Trading Halted

[Vette73]

Originally posted by: Naustica
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.

Not only that but Toyota pays its non-union people about the same as GMs Union workers, in some cases the Toyota workers make more. Its the legacy cost that hurt GM. All the pensions, health care cost, etc... from people that worked at GM years sometime decades ago.

The problem with GM is not the blue collar workers but the people running it. Heck some VP's at GM make more then the CEO of Toyota. Its like the financial going down while the top people keep getting more money while the bottom workers and people with homes/401ks/etc... are the ones getting hurt.

Put blame where it should be, the ones driving the company.

 

[oznerol]

Originally posted by: Marlin1975

Originally posted by: Naustica
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.

Not only that but Toyota pays its non-union people about the same as GMs Union workers, in some cases the Toyota workers make more. Its the legacy cost that hurt GM. All the pensions, health care cost, etc... from people that worked at GM years sometime decades ago.

The problem with GM is not the blue collar workers but the people running it. Heck some VP's at GM make more then the CEO of Toyota. Its like the financial going down while the top people keep getting more money while the bottom workers and people with homes/401ks/etc... are the ones getting hurt.

Put blame where it should be, the ones driving the company.

Nice work.

 

[Chaotic42]

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

I just bought an 08 Impala for less than $12,000. I worry about its warranty if they go under though.

 

[Kirby]

Going out of business sale?

 

[RichardE]

Originally posted by: 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.

Yeah I bought in at 5...ah well.

 

[imported_Lothar]

Originally posted by: 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.

That was stupid...

The best way to play GM right now if you're "hoping" for a really big "speculative" bounce is to buy their SmartNotes.
They rank equal to senior unsecured debt, which recovers an average of about 40 cents on the dollar in bankruptcy cases.

What do stock holders get in bankruptcy cases? Zero.

The way I see it, it's a dumb move to hold on to either their stock or SmartNotes.
But the SmartNotes are a better than buy than GM stock by a mile.

 

[SSSnail]

GM is getting hit on both fronts, their cars and GMAC.


Oh, and this.

 

[dawp]

Originally posted by: Marlin1975

Originally posted by: Naustica
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.

Not only that but Toyota pays its non-union people about the same as GMs Union workers, in some cases the Toyota workers make more. Its the legacy cost that hurt GM. All the pensions, health care cost, etc... from people that worked at GM years sometime decades ago.

The problem with GM is not the blue collar workers but the people running it. Heck some VP's at GM make more then the CEO of Toyota. Its like the financial going down while the top people keep getting more money while the bottom workers and people with homes/401ks/etc... are the ones getting hurt.

Put blame where it should be, the ones driving the company.

yup, ya can't blame the unions for poor management discisions. No one made them make stuff like the H2 or suburbans.

 

[jagec]

Originally posted by: Marlin1975

Originally posted by: Naustica
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.

Not only that but Toyota pays its non-union people about the same as GMs Union workers, in some cases the Toyota workers make more. Its the legacy cost that hurt GM. All the pensions, health care cost, etc... from people that worked at GM years sometime decades ago.

The problem with GM is not the blue collar workers but the people running it. Heck some VP's at GM make more then the CEO of Toyota. Its like the financial going down while the top people keep getting more money while the bottom workers and people with homes/401ks/etc... are the ones getting hurt.

Put blame where it should be, the ones driving the company.

The mantra you always hear is that companies need to pay CEOs ridiculous salaries "to attract the best people."

OK. The CEO of Toyota makes $900k a year. Is Toyota failing as a company? What good did all these "best people" in the auto industry, finance, tech etc. gain us?

The wage gap is costing us...unfortunately, there's nothing we can do about it other than roll our eyes and point out how much money is being wasted.

 

[sao123]

Originally posted by: jagec

Originally posted by: Marlin1975

Originally posted by: Naustica
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.

Not only that but Toyota pays its non-union people about the same as GMs Union workers, in some cases the Toyota workers make more. Its the legacy cost that hurt GM. All the pensions, health care cost, etc... from people that worked at GM years sometime decades ago.

The problem with GM is not the blue collar workers but the people running it. Heck some VP's at GM make more then the CEO of Toyota. Its like the financial going down while the top people keep getting more money while the bottom workers and people with homes/401ks/etc... are the ones getting hurt.

Put blame where it should be, the ones driving the company.

The mantra you always hear is that companies need to pay CEOs ridiculous salaries "to attract the best people."

OK. The CEO of Toyota makes $900k a year. Is Toyota failing as a company? What good did all these "best people" in the auto industry, finance, tech etc. gain us?

The wage gap is costing us...unfortunately, there's nothing we can do about it other than roll our eyes and point out how much money is being wasted.

common sense can be quite refreshing.