GM stock opens up, revving Camaro replaces opening bell

[FenwickHockey65]

Originally Posted by h2oplay

And really, who "wanted" GM to fail? that's political nonsense.....

A lot of people wanted GM to fail and still do. Some of them, ironically enough, are on this site, driving and enjoying a car built by GM.

[Revo1]

Pretty damned cool! Fitting, as well

[h2oplay]

Originally Posted by DGthe3

Plenty of people wanted them to not only fail, but have them liquidated as well. And it had little to nothing to do with politics. The logic was more or less that if GM went down, better companies (ie, Ford and Toyota) would take their place and the market would be a better place without them.

I disagree, GM would have restructured, which wouldn't have been good for the union, who happened to make out quite well, while burning us original loyal stock holders. I personally don't want to see anyone fail, including my competition. I blame GM (mis)management for the debacle THEY created.

GM stock has been in my family for over 50 years, we got screwed hard, my father was a lifetime employee and is most likely spinning in his grave. Left alone, they would have emerged a leaner stronger company without the major screwing we took..... Let's not forget, other US automakers where doing OK as the big 3 where tanking, this was an opportunity to repay political partners..... nothing more, nothing less, it was sickening...

OK, off my soapbox and back to luvin our favorite cars.....

[themossman]

Originally Posted by h2oplay

I'm not so excited as I was an original stock owner...


GM is a house of cards.......

Me too...

Originally Posted by FEARONE

You missed the point Mr P.T. Barnum The point was the WACKOS that talked & wanted it to fail when the Gov. took over i.e. GM=Government Motors. Little by little GM will come back strong as ever thanks to OUR Gov stepping in....

so...we can look forward to having to bail them out AGAIN???

Originally Posted by DGthe3

You lose your money the instant you buy stock (after all, money is what you buy stock with ... ). Beyond that, you just hope you get more out than you put in.

Afraid to lose money investing? Keep your cash in a savings account at your bank.

Obviously missed the point on this one...

Originally Posted by h2oplay

I disagree, GM would have restructured, which wouldn't have been good for the union, who happened to make out quite well, while burning us original loyal stock holders. I personally don't want to see anyone fail, including my competition. I blame GM (mis)management for the debacle THEY created.

GM stock has been in my family for over 50 years, we got screwed hard, my father was a lifetime employee and is most likely spinning in his grave. Left alone, they would have emerged a leaner stronger company without the major screwing we took..... Let's not forget, other US automakers where doing OK as the big 3 where tanking, this was an opportunity to repay political partners..... nothing more, nothing less, it was sickening...

OK, off my soapbox and back to luvin our favorite cars.....

and...here's the point....saved me from having to type it....

[2SSCAMARO]

Originally Posted by FenwickHockey65

A lot of people wanted GM to fail and still do. Some of them, ironically enough, are on this site, driving and enjoying a car built by GM.

Let's try this scenario out. Exon Mobil hypothetically charges us top buck for their gasoline (as GM did with their cars), mismanages their business (as GM did), makes benefit package promises it can't afford to pay ( as GM did to the tune of $29,000,000,000 in UNFUNDED PENSION BENEFITS - yeah that's 29 illion with a B). Then Exon Mobile says they need 50 Billion in bailouts and another 45 Billion in tax exemptions to get back on their feet. Wouldn't it be right to borrow the money at tax payer expense, put it on the tab and then give them the same deal?