Its official: GM files bankruptcy on Monday

[MovingTarget]

How does the saying go? As goes GM so goes the nation?

 

[nergee]

I wonder if this BK now means the bulk of GM product will now be
imported from Shanghai to the US....

 

[Ktulu]

Originally posted by: nergee
I wonder if this BK now means the bulk of GM product will now be
imported from Shanghai to the US....

There was one mention of them possibly importing roughly 50k (barely a fractiton of what GM builds a year) subcompacts built in China, but that's since been retracted and GM will now reopen one of their idling plants to build 160K subcompacts (Chevy Beat) here in the US. No, the bulk of GMs NA products i fully expect to still come from NA.

GM to build subcompacts in US not China

 

[Nemesis 1]

Originally posted by: coloumb
Reminds me of when 3dfx was a hot stock... then suddenly the company was sold and the stock dropped to about .0175 a share...

So..I guess this means we wont' be getting back those beeellions of $$$ the govt loaned them to try to stay afloat...

freakin eh - I forsee a hot dog stand on the beach as my retirement...

Reality setting in is painful isn't it . You guys do understand the only way this could happen is if it was made to happen . Look at how trade is set up in world . Its easy to see the pattern . I do believe for security reasons we have to delist some stocks and return to privately run companies. We need to rebuild our base. We don't need world trade. Intel does not need to be so big . Intel does not need to sell americas tech to others . Keep it here . Give America the advantage. This is how we grew . Time to go back to the future.

Most important of all things. America. Try this . Hurt yourself a liyyle more to find trueth . This is all a lie. Proof . All we have to do is stop food trade. Sure it will hurt us for 1 year. But when every nation on earth is pounding on our doors to trade for FOOD . You will KNOW Americas True Power . FOOD! Its more valueable than GOLD . Withhold it . SEE its power.

 

[SSSnail]

Originally posted by: MovingTarget
How does the saying go? As goes GM so goes the nation?

Nah, after this people will realize NOTHING is too big to fail, and then the market will fix itself. Capitalism will sort it out, that if you suck ass as a company, you won't survive. America will come out of this mess a stronger country with less excess garbage.

 

[Nemesis 1]

Originally posted by: SSSnail

Originally posted by: MovingTarget
How does the saying go? As goes GM so goes the nation?

Nah, after this people will realize NOTHING is too big to fail, and then the market will fix itself. Capitalism will sort it out, that if you suck ass as a company, you won't survive. America will come out of this mess a stronger country with less excess garbage.

Or you could have a deal like the EU Intel thing were foreign companies that have vested interest in another Company . Pass hugh Fines and and steal American economic dollars. yet hide all real evidance so public can't see. Than they create a hype campaign . Now AMD is bitching About Intel Apple . After intel apple Took time and expense to port to x86.

So ya run the risk of small unstable weak companies making false claims against well manage companies. Than governments who prop these companies up. Find on there behalf . To much regulation where its not needed . Regulate the FED get it under control. Best place to start.

Not with companies that Make AMERICA strong . Look what is going on people. Our strengths are being made weak. Seems to be a pattern here .

 

[Special K]

Originally posted by: Lothar

Originally posted by: DaveSimmons
That's one reason why an S&P 500 fund is a better choice, you're betting on 500 companies not just 1.

That's one reason why doing your own research would be a better choice.
Only a complete moron would own a company like GM.

The concept of indexing is at best silly and at worst quite hazardous.

And yet every academic study done on the subject demonstrates that the majority of individual investors (and even professional fund managers) end up underperforming index funds in the long run.

The long-term nominal rate of return for a balanced portfolio of index funds is ~11%/year, which isn't too bad IMO.

Not everyone has the time, knowledge, and/or interest to spend hours a day researching individual stocks, especially when the evidence suggests they will likely lose out to a long-term buy and hold approach anyway.

 

[Nemesis 1]

Are you so sure about that . If you timed my fav . right You made alot of $$$ in the last 3 months . I do rather well with market timing . Must be because I see evil behind ever door. If you got out in dec o7 you did steller. If you got back in the folling dec. You made a shit load of money . I got out a little late . But stopped lose at 10% Which was a lot of money . But got back in right on que. Got every bit of gain so far . Plus we douibled up on investment . Not Bad . Wifes ready to go safe 100% She has reached her goal 8years early . Plus she gave me back the money I lost for her( Since she trusted me to run or accounts I took resposibility and paid her for the lose) . Because I got it all back bigtime. So Its been very good 7 months for me $$ wise . Everthing else sucks big time tho.

<a target=_blank class=ftalternatingbarlinklarge href="https://www.janus.wallst.com/ipss/profiles/fundDetail.asp?displayFundId=23&user_id=retirement">https://www.janus.wallst.co......user_id=retirement</a>

 

[imported_Imp]

Maybe I'll throw more money into stocks during/after the sell-off.

 

[piasabird]

First thing I would do is dissolve all union contracts.

 

[Budmantom]

Originally posted by: piasabird
First thing I would do is dissolve all union contracts.

That makes sense, however this will be the last thing they will do.... go Obama!!

 

[SSSnail]

The UAW needs to cease to exist as an entity.

 

[Hacp]

Originally posted by: Lothar

Originally posted by: DaveSimmons
That's one reason why an S&P 500 fund is a better choice, you're betting on 500 companies not just 1.

That's one reason why doing your own research would be a better choice.
Only a complete moron would own a company like GM.

The concept of indexing is at best silly and at worst quite hazardous.

Unless you have the money to hire private investigators to fully and thoroughly look at a company's insides, you're better off going with index funds. There might be a few outliers, but most underperform the S&P,

 

[alphatarget1]

Government Motors!

 

[little elvis]

Apparently the U.S Government will take a 60% ownership stake in GM and the Canadian Government will receive a 12% stake. The U.S. Government will also supply an additional $30 billion in assistance.

 

[StageLeft]

Originally posted by: Nemesis 1

Are you so sure about that . If you timed my fav . right You made alot of $$$ in the last 3 months . I do rather well with market timing . Must be because I see evil behind ever door. If you got out in dec o7 you did steller. If you got back in the folling dec. You made a shit load of money . I got out a little late . But stopped lose at 10% Which was a lot of money . But got back in right on que. Got every bit of gain so far . Plus we douibled up on investment . Not Bad . Wifes ready to go safe 100% She has reached her goal 8years early . Plus she gave me back the money I lost for her( Since she trusted me to run or accounts I took resposibility and paid her for the lose) . Because I got it all back bigtime. So Its been very good 7 months for me $$ wise . Everthing else sucks big time tho.

<a target=_blank class=ftalternatingbarlinklarge href="https://www.janus.wallst.com/i...=23&user_id=retirement"><a target=_blank class=ftalternatingbarlinklarge href="https://www.janus.wallst.com/ipss/profiles/fundDetail.asp?displayFundId=23&user_id=retirement">https://www.janus.wallst........._id=retirement</a></a>

Then you got lucky or are a better investor than 99% of professionals. Special K's point stands; the average joe cannot beat the market.

Anyway, further to boomerang's comments, the US may need to either start subsidizing or perhaps just decide to get out entirely. Maybe if Japan is going to continaully outcompete by throwing tax money at it the US can benefit by that and pick up cheaper Japanese vehicles (as they have been so far).

 

[Slew Foot]

Could the .gov declare GM immune to future CAFE laws?

Make every other manufacturer sell shit that no one wants while GM is the only game in town for decent stuff?

 

[fskimospy]

Originally posted by: Slew Foot
Could the .gov declare GM immune to future CAFE laws?

Make every other manufacturer sell shit that no one wants while GM is the only game in town for decent stuff?

The government could declare anyone they wanted to immune to CAFE. They are the ones that make the laws after all. They would never do that though, so it's not really worth discussing.

 

[Nemesis 1]

Originally posted by: Skoorb

Originally posted by: Nemesis 1

Are you so sure about that . If you timed my fav . right You made alot of $$$ in the last 3 months . I do rather well with market timing . Must be because I see evil behind ever door. If you got out in dec o7 you did steller. If you got back in the folling dec. You made a shit load of money . I got out a little late . But stopped lose at 10% Which was a lot of money . But got back in right on que. Got every bit of gain so far . Plus we douibled up on investment . Not Bad . Wifes ready to go safe 100% She has reached her goal 8years early . Plus she gave me back the money I lost for her( Since she trusted me to run or accounts I took resposibility and paid her for the lose) . Because I got it all back bigtime. So Its been very good 7 months for me $$ wise . Everthing else sucks big time tho.

<a target=_blank class=ftalternatingbarlinklarge href="https://www.janus.wallst........._id=retirement"><a target=_blank class=ftalternatingbarlinklarge href="https://www.janus.wallst.co......user_id=retirement"><a target=_blank class=ftalternatingbarlinklarge href="https://www.janus.wallst.com/i...=23&user_id=retirement"><a target=_blank class=ftalternatingbarlinklarge href="https://www.janus.wallst.com/ipss/profiles/fundDetail.asp?displayFundId=23&user_id=retirement">https://www.janus.wal............rement</a></a></a></a>

Then you got lucky or are a better investor than 99% of professionals. Special K's point stands; the average joe cannot beat the market.

Anyway, further to boomerang's comments, the US may need to either start subsidizing or perhaps just decide to get out entirely. Maybe if Japan is going to continaully outcompete by throwing tax money at it the US can benefit by that and pick up cheaper Japanese vehicles (as they have been so far).

Its easy to point to win . I have loses . I take some crazy risk . Like when Apple hit the shitters I had to Buy. Apple today is only stocks in my por, Went Gold . I am really looking hard tho at Intel . I was hopeing the EU thing might profit me more. I was going to jump all over it . Now I will wait till after the 4th of july of 09. Befor I play .

 

[Double Trouble]

A sad day for America I will never buy a "Government Motors" product. Unfortunately, no matter what happens, they will stay on the government dole, draining our tax dollars for the foreseeable future.....

 

[boomerang]

Originally posted by: Double Trouble
A sad day for America I will never buy a "Government Motors" product. Unfortunately, no matter what happens, they will stay on the government dole, draining our tax dollars for the foreseeable future.....

Has the thought crossed your mind that if enough people think as you do that yours will be a self fulfilling prophecy? If you truly want a return on your 'investment', you should be buying one of their products. It's in your own best interest.

Sorry for using logic.

 

[Squisher]

Interactive maps: GM's sphere of influence wraps the globe

 

[StageLeft]

Originally posted by: boomerang

Originally posted by: Double Trouble
A sad day for America I will never buy a "Government Motors" product. Unfortunately, no matter what happens, they will stay on the government dole, draining our tax dollars for the foreseeable future.....

Has the thought crossed your mind that if enough people think as you do that yours will be a self fulfilling prophecy? If you truly want a return on your 'investment', you should be buying one of their products. It's in your own best interest.

Sorry for using logic.

As a whole this is correct, but on an individual basis one must watch out for themselves!

 

[dullard]

Originally posted by: Skoorb
The markets may go up 300 points or sink 600 on Monday. I certainly won't guess which direction!

You were correct in your half-prediction. Markets are up nearly 200 already.

As is true in life is often true in stocks: fear of a bad event is often worse than the bad event. Now all the fears can be set aside and we can finally work with facts instead of speculations.

 

[RyanPaulShaffer]

Gee, those of us with a semblance of intelligence and common sense predicted this would happen months ago.

The good thing now is that we've wasted billions of dollars, right?

PS - I am not blaming this on the current administration, since I am well aware that it was Bush who approved the use of TARP funds for bailouts. This upset me greatly, since our Congress voted against the bailouts (meeting their quota of one sensible vote a year.)