GM shares plummet on downgrade

[Bindare_Dundat]

Credit Suisse downgrades General Motors' stock, saying the bailout will ravage the automaker's equity.

NEW YORK (CNNMoney.com) -- Shares of General Motors Corp. fell sharply Monday after an analyst at Credit Suisse downgraded the stock and cut its target price to just $1.

Credit Suisse analyst Christopher Ceraso said in a report that the terms of Friday's government bailout of the auto industry will weigh on GM, with bond holders, the United Auto Workers and company executives all working to reach a compromise agreement.

"It will become increasingly clear that the enormous sacrifice of value on the part of the union (upward of $10 billion) and bondholders (about $24 billion) will require the complete or near-complete elimination of the existing GM equity," said Ceraso in the report.

[240 is Back]

recession is all in your heads bitches

[Bindare_Dundat]

All hail the bailout.

[Nordic Superman]

You guys got any cash spare?

Let's say the government is intent on saving the America auto industry and GM does in fact encroach on $1 per share... then BUY. The growth opportunities with a one dollar stock for a sizable company like GM is a glorious... the chance for some serious returns.

But be warned, I have a sickly feeling the major car manufacturing days of the US, like the UK are really dead. Some fringe specialist companies might still grow, like super-car manufacturers or high class (Aston Martin UK, Rolls Royce Engine division etc.)...

[Soul Crusher]

These companies got too big and forecast that many more people would be buying cars every two three years than currently is feasible.

GM and the Unions refuse to do what is necessary and need to go bankrupt.

[MuscleMcMannus]

I bought GM per Alex23's recommendation ! 

Hummers are the worst shit on the road nowadays.  H1's aren't that bad but H2's and H3's are worthless shit.  H3 are grocery getters marketed as a tough offroad beast. 

[Soul Crusher]

Hummers are the worst shit on the road nowadays.  H1's aren't that bad but H2's and H3's are worthless shit.  H3 are grocery getters marketed as a tough offroad beast. 

Arn't they on the same chasis as an Envoy?

[Hereford]

Arn't they on the same chasis as an Envoy?

I thought they used the Tahoe chasis.

Maybe that's the same thing these days though....

[Bindare_Dundat]

Quote from: Alex23 on November 17, 2008, 01:28:52 PM


I called on GM last Tuesday when the stock hit 2.77, stating that Wednesday will be a good time to start buying. They will not let GM fail. Closed at 3.18 today.

Patience grasshopper.




Great call fuuckface! 

lol

[bigdumbbell]

split up GM  too much redundancy in products is stupid.  ford was smart to sell land rover/jaguar to mr tata

[IFBBwannaB]

These companies need major restructuring, no amount of money can save them if they won't do a complete makeover.

[Hugo Chavez]

sticked for Alex; your fans are waiting for more brilliant advice lol.

[Nordic Superman]

sticked for Alex; your fans are waiting for more brilliant advice lol.

You guys are idiots. Personally, in my opinion Alex is slightly off key to say it's a long stock (it certainly has major potential to go long, but the road will have you pulling out your hair).

If you can buy GM in large volume then it's a perfect day traders stock. With negative/positive news continually, money can be milked from GM stock do to the potential variance - because it's SOOOOOO cheap.

[shootfighter1]

I can just see GM asking for more Money in 2-3 months.  If thats the case, the bailout was worthless.  The gov should have helped with an organized chapter 11 bankrupcy.  Just like the first $350billion that was horrible mis-accounted for, this bailout is likely a mistake.  Its giving a couple sips of water to someone who's starving.

[Soul Crusher]

I can just see GM asking for more Money in 2-3 months.  If thats the case, the bailout was worthless.  The gov should have helped with an organized chapter 11 bankrupcy.  Just like the first $350billion that was horrible mis-accounted for, this bailout is likely a mistake.  Its giving a couple sips of water to someone who's starving.

That is what I have been saying.  They really need about 100 billion to avoid bankrupcty.

[Bindare_Dundat]

You guys are idiots. Personally, in my opinion Alex is slightly off key to say it's a long stock (it certainly has major potential to go long, but the road will have you pulling out your hair).

If you can buy GM in large volume then it's a perfect day traders stock. With negative/positive news continually, money can be milked from GM stock do to the potential variance - because it's SOOOOOO cheap.

Go for it. Let us know how it works out for you.

[Nordic Superman]

Go for it. Let us know how it works out for you.

I personally only invest in sectors I know about, that being almost strictly tech stock. You going to disprove my logic in my post or just be a smart arse?

[24KT]

I personally only invest in sectors I know about, that being almost strictly tech stock. You going to disprove my logic in my post or just be a smart arse?

Well your post made absolutely no sense whatsoever.

It didn't include a diatribe disparaging Islam for GM's financial woes,
...and as such should not be taken seriously as a genuine Nordic post.

ps: Do you have any idea how many Muslims works in the IT sector? 

[24KT]

I bought GM per Alex23's recommendation !  

 

ummm... next time you want to dabble in the market, maybe you should consult with me first?
I could call up my 4 year old niece, who could ask her dolls what stock picks you should buy,
...and you could buy her recommendations.

It's worth a shot, ...and it's probably a wee bit more enlightened than your current advisor?

[Nordic Superman]

Well your post made absolutely no sense whatsoever.

It didn't include a diatribe disparaging Islam for GM's financial woes,
...and as such should not be taken seriously as a genuine Nordic post.

ps: Do you have any idea how many Muslims works in the IT sector? 

Hmm... not many muslims in the UK and US (in the locations I work) IT sectors. Disproportionate amount of Indian Hindu's tho, which have some fine abilities in mathematics, along with Koreans and Chinese.

[Bindare_Dundat]

Well your post made absolutely no sense whatsoever.

It didn't include a diatribe disparaging Islam for GM's financial woes,
...and as such should not be taken seriously as a genuine Nordic post.

ps: Do you have any idea how many Muslims works in the IT sector? 

2 funnies. Jags on a roll. 

[IFBBwannaB]

Hmm... not many muslims in the UK and US (in the locations I work) IT sectors. Disproportionate amount of Indian Hindu's tho, which have some fine abilities in mathematics, along with Koreans and Chinese.

They should thank imperialism and the UK for that, without them would still be living in mud shacks.

Funny thing is Jag Arab friends bitch about the new age imperialism but fail to understand its the only thing that might save them from going back to the dark ages.

But can we really expect anything from people who believe in putting some magic pills in their fuel tank will save them millions?

[War-Horse]

Hahahaha......that Alex23 and his neo-con thinking is stil serving him well!!!   The blind leading the blind.

[Nordic Superman]

I followed Alex23's advise and bought the stocks he recommended.

Most are fuuccking tanking ! 






Quote from: Alex23 on November 17, 2008, 02:11:33 PM
Other stocks on my watch list:
BOOM, XETA (which I already bought @1.80), PRKR, INPH, CSCO. 


BOOM 15.34 +1.32 (9.42%)
XETA 1.91 +0.01 (0.53%) bought @ 1.80
PRKR 3.39 +0.21 (6.60%) bought @ 2.34
INPH 2.25 +0.10 (4.65%) bought @ 2.31.. still under water
CSCO 16.28 +0.86 (5.58%) bought @ 15.05, in for the long run

If you had bought CSCO when he did with a volume of 1000 ($15050K) then you'd be $1230 in profit.

What's the issue there? CSCO was ~$15 Dec 1, and is now 16.27... so with in a month, more than $1230 to be made if you know what you're doing.

Of course everyone on Getbig are financial experts and I'm wrong

[Mons Venus]

GM sues bankrupt supplier for access to parts
 

The Associated Press
Friday, December 26, 2008
-- General Motors Corp. is suing a bankrupt automotive supplier for immediate access to specialized parts and equipment, arguing that a delay would hamper the launch of its new Chevrolet Camaro, disrupt assembly operations and cause millions of dollars in damages it can ill afford.

In a filing with the U.S. Bankruptcy Court in Delaware on Christmas Eve, GM accused Cadence Innovation LLC of Troy, Mich. of "holding hostage" the parts and tooling equipment it needs and breaching the terms of an agreement it signed with the automaker in August.

Cadence, which GM once hailed as its 2006 supplier of the year, filed for Chapter 11 bankruptcy in August, which became a liquidation proceeding earlier this month. The automotive supplier makes door panels, airbag covers, consoles and other parts