doing our part to save GM

Iroczlover · 03-08-2009, 09:17 PM

after much depate wtih my husband over the weekend we are going to risk it. We are Buying GM stock the good part of this is that if GM & the Gov. can keep GM above water for a little longer til they can recover it means that we will gain money, if not we will lose about $100 or so.

*Milk 1027* · 03-08-2009, 09:19 PM

Quote:

Originally Posted by Iroczlover

after much depate wtih my husband over the weekend we are going to risk it. We are Buying GM stock the good part of this is that if GM & the Gov. can keep GM above water for a little longer til they can recover it means that we will gain money, if not we will lose about $100 or so.

Good. I really doubt GM will go under.

PQ · 03-08-2009, 09:31 PM

I've been thinking about this myself. I have 10 thousand rainy day dollars that I have kept for a while. Bonnie and I agreed that whatever we eventually do with it that we both had to be 100% on board. If even one of us disagreed in ANY way that we wouldn't do it. I haven't brought it up to her yet but I really beleive that if GM can rebound and when they do it could be a 'super ball' type rebound. And I'm talking about the whole 10 grand. It's been sitting idle not doing ANYTHING for us.

The bigger the risk the bigger the reward. I'd put my chances at pulling the trigger at about 15% right now meaning I probably won't do it but

I mentioned it in a thread the other night, can't remember which one but I'm with you, it could pay off.

Mr_Draco · 03-08-2009, 09:32 PM

I was thinking about spending a couple hundred on GM stock but if GM goes Chpt. 11 then you lose everything. I'm waiting till the end of the month to see what the feds do first.

Iroczlover · 03-08-2009, 09:35 PM

Quote:

Originally Posted by Mr_Draco

I was thinking about spending a couple hundred on GM stock but if GM goes Chpt. 11 then you lose everything. I'm waiting till the end of the month to see what the feds do first.

thats why we are only looking at $100s Not our lifes savings.

Heck I just spent close to $1000 on my buick so We can do $100 or so.

Iroczlover · 03-08-2009, 09:36 PM

Quote:

Originally Posted by irpq11

I've been thinking about this myself. I have 10 thousand rainy day dollars that I have kept for a while. Bonnie and I agreed that whatever we eventually do with it that we both had to be 100% on board. If even one of us disagreed in ANY way that we wouldn't do it. I haven't brought it up to her yet but I really beleive that if GM can rebound and when they do it could be a 'super ball' type rebound. And I'm talking about the whole 10 grand. It's been sitting idle not doing ANYTHING for us.

The bigger the risk the bigger the reward. I'd put my chances at pulling the trigger at about 15% right now meaning I probably won't do it but

I mentioned it in a thread the other night, can't remember which one but I'm with you, it could pay off.

I wouldnt do $10 k but part of it yea I would. $10k canput food on the table for a while.

Legend · 03-08-2009, 09:37 PM

While I don't think the Gov will let GM go under or file Chapter 11...the extra cash I have on hand just went to a kitchen remodel! Yes a gamble as well with the housing market but I do plan to hold on to the house for many years...if sell at all and that will serve me best in the long run than to invest before I know what will happen!

I love GM but no way am I putting my money in them before 31 Mar...after that, maybe!

tylermoore · 03-08-2009, 09:42 PM

i will try to put some in GM at the end of the month im thinking at 1.41 a share you buy a couple hundred and just let it grow maybe it will double being optimistic but who knows

I will try and do my part

PQ · 03-08-2009, 09:44 PM

Quote:

Originally Posted by Mr_Draco

I was thinking about spending a couple hundred on GM stock but if GM goes Chpt. 11 then you lose everything. I'm waiting till the end of the month to see what the feds do first.

That's what everyone else is doing as well.

Quote:

Originally Posted by Iroczlover

thats why we are only looking at $100s Not our lifes savings.

Heck I just spent close to $1000 on my buick so We can do $100 or so.

Makes sense and is much safer.

We had been saving for home repairs but were able to get an insurance benefit so all of a sudden had the money we saved as kind of a bonus. I was going to drop it on Bonnies car but I've been just kind of latting it sit and ignoring it. Scared to add it to our 401k or other savings but what a bundle we could make if it worked out. When it comes to the potential it would be a what can I do for myself thing more than how could I help GM thing. I may save it for down payment on my Camaro but since you brought it up I figured it would be a good time to kinda brainstorm it a little.

the business is still doing very well but it is another aspect for sure. We've actually grown over the last 8 mo. But I don't take anything for granted.

PQ · 03-08-2009, 09:49 PM

Quote:

Originally Posted by I am Legend

While I don't think the Gov will let GM go under or file Chapter 11...the extra cash I have on hand just went to a kitchen remodel! Yes a gamble as well with the housing market but I do plan to hold on to the house for many years...if sell at all and that will serve me best in the long run than to invest before I know what will happen!

I love GM but no way am I putting my money in them before 31 Mar...after that, maybe!

It would be kinda cool to own 7092 shares of GM.

especially if they ever got back over 50 dollars a share.

But then again............................

tylermoore · 03-08-2009, 09:53 PM

Quote:

Originally Posted by irpq11

It would be kinda cool to own 7092 shares of GM.

especially if they ever got back over 50 dollars a share.

But then again............................

hell yeah 10k to 360k aint a bad trade off

but it will take forever for it to reach that high again wouldnt you think like 5+years

PQ · 03-08-2009, 09:59 PM

Quote:

Originally Posted by tylermoore

hell yeah 10k to 360k aint a bad trade off

but it will take forever for it to reach that high again wouldnt you think like 5+years

5+ in the best case scenario. But I wouldn't miss the money for now. It would just really suck for them to tank and lose it all.

I can afford to invest 10k, and I can afford to lose it and not kill me but but I can't afford to sit Bonnie down and tell her I lost it.

Don't get me wrong, I don't have a whole lot of bank to play with but it's there and I don't need it right now. Doesn't mean I wont need it.

Ject · 03-08-2009, 10:01 PM

Quote:

Originally Posted by Mr_Draco

I was thinking about spending a couple hundred on GM stock but if GM goes Chpt. 11 then you lose everything. I'm waiting till the end of the month to see what the feds do first.

Im sitting on about 3k to invest and Im waiting till the end of the month to see if a Chp 11 happens or not... if it does and i buy now... i just burned money basically.

PQ · 03-08-2009, 10:05 PM

Quote:

Originally Posted by Ject

Im sitting on about 3k to invest and Im waiting till the end of the month to see if a Chp 11 happens or not... if it does and i buy now... i just burned money basically.

Probably, I am certainly no stock savy guy. I don't know how that works in chapter 11. I would imagine share holders forfeit all shares to beggin to pay off the debt of GM. But I don't know.

03-08-2009, 09:17 PM	#1
Iroczlover The Krazzy bytch Drives: Which car I have 9 vehicles? Join Date: Jun 2008 Location: Yelm, wa, Hell if I think about it to much Posts: 7,918	doing our part to save GM after much depate wtih my husband over the weekend we are going to risk it. We are Buying GM stock the good part of this is that if GM & the Gov. can keep GM above water for a little longer til they can recover it means that we will gain money, if not we will lose about $100 or so.

03-08-2009, 09:31 PM	#3
PQ Booooosted. Drives: 2010 Supercharged SS Join Date: Apr 2008 Location: Mobile, AL Posts: 36,717 View My Garage	I've been thinking about this myself. I have 10 thousand rainy day dollars that I have kept for a while. Bonnie and I agreed that whatever we eventually do with it that we both had to be 100% on board. If even one of us disagreed in ANY way that we wouldn't do it. I haven't brought it up to her yet but I really beleive that if GM can rebound and when they do it could be a 'super ball' type rebound. And I'm talking about the whole 10 grand. It's been sitting idle not doing ANYTHING for us. The bigger the risk the bigger the reward. I'd put my chances at pulling the trigger at about 15% right now meaning I probably won't do it but I mentioned it in a thread the other night, can't remember which one but I'm with you, it could pay off. __________________

03-08-2009, 09:42 PM	#8
tylermoore Drives: 2010 Camaro 1ss/LS3 Victory Red Join Date: Feb 2009 Location: kinston, NC Posts: 251	i will try to put some in GM at the end of the month im thinking at 1.41 a share you buy a couple hundred and just let it grow maybe it will double being optimistic but who knows I will try and do my part __________________ 2010 Camaro SS/LS3 1998 Camaro Z28 A4

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03-08-2009, 09:32 PM	#4
Mr_Draco Drives: 2SS/RS Join Date: Sep 2008 Location: Western North Carolina Posts: 7,346	I was thinking about spending a couple hundred on GM stock but if GM goes Chpt. 11 then you lose everything. I'm waiting till the end of the month to see what the feds do first.

03-08-2009, 09:37 PM	#7
Legend Hello! Drives: 2008 JSB Z06! Join Date: Oct 2008 Location: Texas Posts: 2,624 View My Garage	While I don't think the Gov will let GM go under or file Chapter 11...the extra cash I have on hand just went to a kitchen remodel! Yes a gamble as well with the housing market but I do plan to hold on to the house for many years...if sell at all and that will serve me best in the long run than to invest before I know what will happen! I love GM but no way am I putting my money in them before 31 Mar...after that, maybe!