THIS REALLY SUCKS!!!!

[Tal]

It's 2.67 here today, some people will think it's crazy but I'm thinking I should take the money saved from the $3+ I've been stuck and buy some of these cheapo stocks.

[swifttal]

Originally Posted by fbodfather

?????????????

It IS Good news?

First - if GM (and Ford and Chrysler) go bankrupt, YOU, the taxpayer will be taking over the existing pension plans -- brace yourselves...........

You DO realize, don't you, that you're not only talking about the condition of General Motors -- but the survival of the tens of thousands of suppliers and vendors to each company - and their employees and families - and then there are the 7,000 GM dealers out there and THEIR families and suppliers...........


This is NOT good news -- sorry!

It IS good news - this gives the opportunity for the average joe to get a decent amount of stock and invest in a company they love - hell I can't EVER remember a company's stocks that I cared about being this low! Support GM and buy buy buy!!!

And if you truly care, then invest in the company to help bring their value up a bit instead of ripping on another member for pointing out an opportunity for you to better yourself and your lifestyle in the long run - I personally will be celebrating Monday's Camaro news release by taking the $500 I was going to put down on the Camaro on buying $500 in GM stock (100+ shares to start)- can always reserve a Camaro later - could possibly never have another opportunity like this-

[stovt001]

Originally Posted by swifttal

It IS good news - this gives the opportunity for the average joe to get a decent amount of stock and invest in a company they love - hell I can't EVER remember a company's stocks that I cared about being this low! Support GM and buy buy buy!!!

And if you truly care, then invest in the company to help bring their value up a bit instead of ripping on another member for pointing out an opportunity for you to better yourself and your lifestyle in the long run - I personally will be celebrating Monday's Camaro news release by taking the $500 I was going to put down on the Camaro on buying $500 in GM stock (100+ to start)- can always reserve a Camaro later - could possibly never have another opportunity like this-

Just to give you a heads up, fbodfather is a GM employee. The GM employee in some perspectives. He is the last person you need to lecture on caring about the company, and it is his job, as well as many others, on the line here. A low stock price makes it hard to recapitalize, which is what GM REALLY, REALLY needs right now. Stock prices don't drop just so average joes can get it cheap. They drop for a reason. Maybe right now it isn't tied directly to earnings, but they sure reflect the challenges facing GM. The stock is this low because it is bad out there.

[swifttal]

Originally Posted by stovt001

Just to give you a heads up, fbodfather is a GM employee. The GM employee in some perspectives. He is the last person you need to lecture on caring about the company, and it is his job, as well as many others, on the line here. A low stock price makes it hard to recapitalize, which is what GM REALLY, REALLY needs right now. Stock prices don't drop just so average joes can get it cheap. They drop for a reason. Maybe right now it isn't tied directly to earnings, but they sure reflect the challenges facing GM. The stock is this low because it is bad out there.

Which is exactly why I'll be buying -

Anything I can do to both better myself, and great Americans like fbodfather is a good situation - us pointing out that it's a great time to buy stocks in no way shape or form does anything to hurt these families - simple stock basics - buy low sell high, the more people buy, the more money GM gets - so buy buy buy!!!!!!!
You'll never get a chance like this again in your lifetime

[swifttal]

So what I'm getting at is there are two approaches to this situation

- You can have a glass half empty perspective, full of layoffs and GM hard times

- Or there's the glass is half full perspective - which is the golden opportunity to take a piece of ownership and responsibility in something you love

This is America, the golden land of opportunity, where people hold the greatest responsibility of any nation in their own god-given hands. At least that's how I see things, and with a great company like this, I have nothing but the utmost faith that they will survive and continue to contribute to the great American image as they have for over a hundred years, at at least for another hundred to come. They've survived the great depression, they've brought the world great cars - why wouldn't anyone want a piece of ownership in that.

That is why this is indeed good news. In every camaro, suburban, corvette ect that is sold, I will have the pride of knowing that my meager contribution has a piece of that going to drivers.

Also fbodfather - let us know what we can do to help you; petitions, letters to governors / congress reps, we're here to help - I want Americans like you continuing to build my cars

[taz]

Originally Posted by Evotion

Since the beginning of Sept. I have lost more than what 2 new Camaros are worth. Depressing? Very. But the stock market is not a get rich quick scheme... it will take time, it will come around. What worries me the most is that I am waiting for the convertible, now I have to play the waiting (and worrying) game.

On the positive side... there are now 2 stations by my house selling gas for $2.99 a gallon.

I know how you feel. Already $100K down this year and not sure if purchasing a camaro at this time is in my best interest. At this rate, i'm gonna be pennyless by Christmas.

[Lucas718]

Today looks like it's going to be a very bad day on Wall St. The overseas markets are way down over night. Japan's market dropped 10%. If that happens here, you'll be looking at the stock market drop over 800 points today. A few more days of this and you're going to start seeing businesses fail. The government isn't going to bail out everyone. I hope GM, Ford, and any other company that is already in trouble somehow get through this.

[oldbowtie]

Originally Posted by Moose

Personally, I believe GM will pull through.

Seeing the cars "in the pipeline", ie; Camaro, Volt, Cruze, etc., I think once the economy starts to rebound, we'll see GM's stock rise also.

I agree. I'm a stockholder (my Dad worked for GM for 40 years). Obviously it won't happen overnight but they are positioning themselves for recovery. The images of the Camaro and the Volt shows the diversity that is needed today.

I can't wait for my 2010 SS.

Former Rides:
1966 Chevelle (1971 to 2007)
1970 Chevelle (1974 to 1991)

[Mr Twisty]

Remember what happened to stocks in the last panic sell??? When was that??? Sept. of 2001 I believe. Someone stated that GM stock was ripe for the picking at $9. It was compared to the losses others have incurred on the ride down. Another said buy low sell high, right on! The market has recovered before, if it doesn't recover this time...Well...That $20 you got in your pocket? Won't be worth spit. Bullets will be more valuable.

[Warghost]

Originally Posted by Speedy1975

Don't get your hopes too high on that front either. Oil prices per barrel dipped below $85 today. Guess what OPEC does...calls an emergency meeting to approve cutting back production. I guess $3 a gallon gas is too cheap for them these days when this time last year it was under $2.50.

Those people deserve a nuke.

[Mr Twisty]

Normally I avoid discussing any advice regarding buying or selling of stocks, but I felt this is important enough to share and warn you since this explosive situation might prove to be yet another ENRON.

Please review any holdings you might have in the following stocks: American Can, Interstate Water, National Gas Company, Northern Tissue Company.

Due to uncertain market conditions, I advise you to sit tight on your American Can, hold your Water, and let go of your Gas. You may be interested to know that Northern Tissue touched a new bottom today, and millions were wiped clean. It's a tough market out there. Be careful!

[Matster]

Originally Posted by taz

I know how you feel. Already $100K down this year and not sure if purchasing a camaro at this time is in my best interest. At this rate, i'm gonna be pennyless by Christmas.

Myself as well, 100K but keep in mind that it is only "paper loses" the only time it becomes an actual lose is when you sell. Hang onto what you have and don't sell, depending on your time line for saving and when you will need the money it will probably be worth 10 times what is it now.

Before the down swing yesterday 2 trillion, thats a 2 with 12 zeros after it or 10 to the power of 12 X 2, evaporated, yes evaporated, people didn't pull that money out of the market and put it the mattresses, its gone.

Want to know who is responsible? Watch Anderson Cooper on CNN, he is counting down the top ten http://ac360.blogs.cnn.com/2008/10/0...-the-collapse/ people responsible for this mess. I think the world has the right to know who is responsible and should be demanding that they be held accountable, financially and criminally.

[GM4LIFE]

is GM going to make it by the end of the day? im scared... they were up 3% at first when markets opened now they are falling......and then they go back up...then they go down.... :(

[brantley847]

look at the bright side...gas prices are way down in central florida. Some places offering 3.14, and one "ma and pa" gas station was giving 2.99....yes, just put the image in your head of people pulling guns on each other because it happened numerous times.....

Anyways, maybe if you keep the gas prices down the confidence will start to rise again, followed by sales? maybe? no?....ehhhh