GM bankruptcy!

[swazworth]

Merrill lynch has a price target of $7 for the stock. it's a great time to buy but i'm going to hold off just a little bit longer.

i'm not going to say anthing else..................... i don't want to get in trouble with dgthe3, tag, and dragon.

hey, dgthe3 congrats on the new title.

[MAC]

Yeah. It's not enough that fossil fuel / oil digging has destroyed other countries due to greed (Iraq for example), lets start digging up the good ol U.S. of A. so people can continue to use the Hummer because it's so convenient, it fits all of their family..heaven forbid we use a VAN which is exactly what it was designed for; even though most vans get better gas mileage.
sure it might be good income from other places buying from us, but at what cost?...
as for India & China getting gas from us, whats wrong with that...along with Japan they're the ones who are actually getting anywhere. I honestly don't understand it..I was watching a PBS special about India's rising up, and they kept commenting along the lines of "the USA has no reason to be scared of India, we just want to have the same luxuries they do".
Why on earth...what on earth..would possess them to say such a thing?..what bloody reason does USA have, to be afraid/scared of India.
That being said, whats wrong with other countries being equal, or even better, than the united states? (as far as economy goes).
and yes I know I'll be bashed for saying this, but I don't care because it's my opinion, and as I said before: An opinion is like a butt hole; everybody has one.

:seesaw:

[SilverTurtle]

I think we all agree that doing away with oil futures would go a long way towards lowering the price of fuel... because speculation is just silly... its as close to gambling as you can get in the stock market... and really has no business being there.

[GTAHVIT]

Originally Posted by stovt001

I'm married, in college, pulling in intern pay (full time now, only 24 hours a week during the school year) yet I have zero credit card debt, a couple grand in college loans, a couple grand in savings, and I have a couple hundred dollars in surplus savings a month, and my kitchen is fully stocked. All this in Southern California no less. As I said before adapt, plan, keep a cool head, and you can do just fine. Of course I wouldn't be getting the Camaro in a couple years if I couldn't carpool/vanpool, but this way I save time and money and get to spend more time socializing with some very interesting people. All win and no loss.

The good news, for both of us, is you have every right to live your life this way should you choose. As I, and others, have every right to fight our asses off to get gas prices a cheap as possible. And the double good news for you is, if we are successful, you get cheaper gas. So that's a win win!!!

[GTAHVIT]

Originally Posted by chevydude26

i don't want to bring politics into a forum about camaro's but to the guy who said communism would be a good idea.....sorry thats just insane...

In the interest of, "don't say anything if you can't say anything nice" I'll just say... +1

[SSMUFF]

Good news for all you die hard chevy fans. GM may bring the BEAT to the US.

Great to see all the responses to this article. GM is in trouble due to there lack of change and foresight. Profit is all in large cars due to teh american dream of being the cool perosn on the block. How does Europe and other countries move about with family sof 4-6 people? Weird!

Ethonal is not good idea since it only casuses other problems. Land that once was grassland is now ripped up to make room for corn and soy. So when it rains you now have more runoff which can lead to flooding. To save $.30 per gallon but yet to have huge eco impactsis nto the answer.

[bigralph]

We all want our beloved Camaro to survive right. Will this the time to make a change by helping GM out. My idea is to get all the die hard Chevy fans together not only in this form, but world wide. We could send an e-mail to SL1tech, Corvette form, GTO, Cobalt, and others forms to help out GM. We all could spare $20 dollars to help GM out. I'm guessing with all the forms together we are at least 500,000+ strong. Take $10 X 500,000 that is $5 million dollars. That produces a quick really in the stock market and that will make other not die hard fans to investors in GM. We could all go to e-trade to buy stock. I think every transaction you do is $10. I don't work for e-trade or GM. I'm just another die hard fan like you. I WANT MY CAMARO NOW BEFORE IS TO LATE!!!

[Matster]

GM faces possible bankruptcy

The following article is excerpted from the 3 July 2008 edition of the “Toronto Star”.

"General Motors Corp., battered by the slowest U.S. sales market in 15 years, faces the possibility of bankruptcy and may need to raise as much as $15 billion (U.S.), a Merrill Lynch & Co. analyst said.

The "dramatic drop-off" in sales probably will continue through 2009, forcing GM to find additional funding, analyst John Murphy, who cut the Detroit-based automaker's shares to "underperform" from "buy," said in a report. …

GM, which hasn't earned a yearly profit since 2004, fell $1.77, or 15.06 per cent, to close at $9.98 in New York trading, the shares' lowest close since Sept. 13, 1954.

Ford Motor Co. shares yesterday fell 35 cents, or 7.4 per cent to close at $4.36, passing a multi-decade low of $4.41 set the day before.

Analysts, who had expected a steeper drop, said GM's sales outpaced those of most other automakers because of late-month incentives and double-digit jumps in demand for some small- and mid-sized cars….

June was a dismal month for the industry, which posted a 18.3 percent sales drop, according to Autodata Corp. Only Honda, the lineup of which is tilted toward smaller and more fuel-efficient cars, managed to report a sales increase for June – slightly above 1 per cent.

The automakers' shares have taken a beating in recent weeks, hurt by rising oil prices and a weak U.S. economy, along with a shift in consumer demand away from gas guzzling light trucks and toward smaller, more fuel-efficient cars and crossovers….

Merrill's figure on how much the largest U.S. automaker may have to raise is more than estimates last month of as much as $8 billion by Bank of America Corp. and $10 billion by JPMorgan Chase & Co…."


Perhaps if we want to see our beloved Camaro we should all start buying some GM stock to help keep them in business!

[TAG UR IT]

Of course I'm concerned for GM. But, as times change, so will GM. They have the will to survive and you can see that in their everyday decisions...closing some truck plants, working on hybrid technology (mainly the VOLT!), bringing back the Camaro (which will steal all sales from Ford and Chrysler markets).

I really think that GM needs to get smart in the sense of cutting some of the vehicle lines that cross over and over. Make one vehicle line w/ "X" amount of options....that way the price (due to options) could be 15K all the way up to 40K fully optioned. But, GM wouldn't have to put all their time and energy into redesigning a singe vehicle just so they can compete w/ themselves.

Anywhooooo...I'm not too concerned. And, I'd buy some GM stock just so I could say I am part of the company! Long live GM!!!

and threads merged...

[boxmonkeyracing]

blah blah blah the sky is falling blah blah blah the sky is falling blah blah blah the sky is falling. that's all I ever hear about anything in this day and time. Where's the positive news?

[Matster]

Does anyone really believe that the government's of the world would stand around and let this happen? Recession? Hell can you say depression!

And why is it that governments have allowed Wall Street to artifically inflat the price of oil? Make no mistake about it, there is no shortage of oil. The province of Alberta in Canada has more oil than the US and Mid East put together. Best guesstamation put the tar sand reserves at around 100 trillion barrels.

We are currently dealing with the fall out of the gross incompetency of those who thought sub-prime mortgages were a good idea. That whole scam comes undone driving the US dollar into a tail spin and investors run with their money to next best thing. The same ideology that destroyed the mortgage market (and peoples lives)is now in play with oil. Capitolism is great with the right checks and balances in place, nothing wrong with making a decent profit. Those checks and balances are required to curve the greed of those in positions that influence the market. What will they use next as an excuse for high oil prices, some Saudi prince has diarrhea?

[The_Blur]

Originally Posted by MAC

Yeah. It's not enough that fossil fuel / oil digging has destroyed other countries due to greed (Iraq for example), lets start digging up the good ol U.S. of A. so people can continue to use the Hummer because it's so convenient, it fits all of their family..heaven forbid we use a VAN which is exactly what it was designed for; even though most vans get better gas mileage.
sure it might be good income from other places buying from us, but at what cost?...
as for India & China getting gas from us, whats wrong with that...along with Japan they're the ones who are actually getting anywhere. I honestly don't understand it..I was watching a PBS special about India's rising up, and they kept commenting along the lines of "the USA has no reason to be scared of India, we just want to have the same luxuries they do".
Why on earth...what on earth..would possess them to say such a thing?..what bloody reason does USA have, to be afraid/scared of India.
That being said, whats wrong with other countries being equal, or even better, than the united states? (as far as economy goes).
and yes I know I'll be bashed for saying this, but I don't care because it's my opinion, and as I said before: An opinion is like a butt hole; everybody has one.

:seesaw:

:seesaw: I agree with some of your early statements.

I've been venting about people driving unnecessary cars for a while. Ask yourself: how often did your mom in her minivan carry 7 passengers? Was it so essential to have a minivan or would sedan have done the job most of the time? When I drive on the highway, I see empty minivans all the time. The kids are at school, but mom feels the need to drive an empty minivan all the way across the street (literally sometimes) to get groceries. Most people do not need a Hummer. I think GM should make it a low-production brand. Despite this, people drive them to show off. On the same note, most people who have a Yukon don't need it for the reasons they got it. Unless they plan to modify the truck for pulling competitions, it doesn't make much sense to roll around in a large SUV or truck. I used to have this roommate who wanted a diesel to replace his 1996 Sierra. He barely stuck an exhaust on his old truck—not even a whole one—and never used it to carry more than a keg for college parties. There's no rationale for having such a large vehicle without any need to carry a payload or to pull anything.

:seesaw: I disagree and am concerned with the latter part of your post.

I don't have a problem with other companies being on good footing in the US. It inspires diversity on the road by providing new competition with very different cars and platforms for every company. I do, however, want GM to be the 800-pound gorilla of the automotive world. As a politically interested individual, I want to see the US get every dime it can out of the automotive world within reason. That means, I like having large companies based in the US running the industry. It gives America more tax money, hires a negligible (let's face it, the work force is huge, and most Americans don't really work to build cars) amount of Americans, and it contributes to American prosperity, or the perception of prosperity in the world. When the US includes the leading car brand, it says more about business than it does about cars. It says that Americans are good businesspeople and that they can lead an industry that is hotly contested with diverse makes and models. In summation, taxes, employed Americans, and the perception of dominance is good for American interests. I like other brands. I just want American brands to do better.

[Matster]

All very good points, I would agree and when the U.S. does well the rest of the world benefits in a big way. Like wise, when things go on such as Enron or the sub-prime mortgage melt down, it is not just the U.S. economy that goes to hell in a hand basket but the rest of the world suffers as well.

[Matster]

Originally Posted by SilverTurtle

I think we all agree that doing away with oil futures would go a long way towards lowering the price of fuel... because speculation is just silly... its as close to gambling as you can get in the stock market... and really has no business being there.

That is the smartest thing I have heard in a long time