GM to File for Bankruptcy in Next 5 Days

[LeonOfTheDead]

That share is trading for a mere $1.17 at the moment. Looks damn tasty, and fortunes could be made for investors if the company promises to make a come back. It is unlikely that artificial money injections from the government will make that happen though. It is a natural process that the company should manage on its own. The fault lies in the management itself. If there is no strength in that area then there is no hope for any improvements. In this case, the only thing the bail out money is doing is prolonging the inevitable collapse.

Sometimes I really wish I had a crystal ball. To put it into perspective, $10,000 today could potentially grow well into the 6 figures if the share goes anywhere close to the $40.- it was trading for back in late 2007. Or better yet, the $90.- back in the early 2000's. Now there's a retirement plan .

iirc GM itself stated the shares shouldn't be bought despite being so "tempting".

[DesmoRob]

iirc GM itself stated the shares shouldn't be bought despite being so "tempting".

Hmmm....
Well it was definitely a nice thought

[LeonOfTheDead]

here it is

GM management has noticed a recent elevation in the volume and price of its common stock. While GM does not control the market or its stock price, GM management strongly believes that any recovery for the common stockholders in the chapter 11 bankruptcy process is highly unlikely, even under the most optimistic of scenarios. Stockholders of a company in chapter 11 generally receive value only if all claims of the secured and unsecured creditors are fully satisfied.

[fpv_gtho]

If you wanted to make money on one of the big 3, you shouldve put some money on Ford when they hit $1.50 some months ago. The share price has already quadrupled from that.

[LotusLocost]

I want this officially official!

Koenigsegg reportedly reache agreement with GM to buy Saab.

It's now confirmed from both GM and SAAB that Koeningsegg have signed an "intent to buy" agreement with GM, to buy SAAB.
No one really knows where the money comes from, Koeningsegg have declined the need for governmental loan guarantees.
There is rumors about that the Norwegian 45% shareholder of Koeningsegg, Bård Eker, have some, still to be named, private Norwegian investors in his back.

As an economic report just said on the 11 o'clock news here: " I can't possibly understand where all the money comes from..."

[SlickHolden]

What were the prices of shares for GM ?. I herd they were almost down to nothing.

[fpv_gtho]

Last i heard they were down around 75c. They were also around the $1.50 mark when Ford was.

[pimento]

This means that Volvo will be part owners of Saab, due to the fact that they own some stock of Koenigsegg. About $1000 worth, apparently.. for the loan of their wind tunnel a while ago.

[Cyco]

They are starting production at some US plants again.

Not quite sure how they managed to clear a huge backlog that fast, but the story is here.

[SlickHolden]

Last i heard they were down around 75c. They were also around the $1.50 mark when Ford was.

Maybe better to buy Ford Shares.

[cargirl1990]

i had a thought. because of the fact that American cars have " cheap looking " interiors or because people look at American cars because its an American car, does it mean that people who purchase these vehicles and the manufacterer promises a high quality car when sometimes its not, would that mean that the car manufacterer has taken advantage of or scammed the costumer? i sometimes find that the american car manufacterers promise a car that will be up to everybodies expectations but find out that its way below their expectations are almost like a scam and because of the fact that the americans think that they can beat their main competition which are the Japanese. they think that the quality of their cars are up to the Japansese when sometimes its not. i hope that made sense and i hope i didn't hurt or made anyone mad or upset. i just needed to get that out there.

[Dino Scuderia]

Looks like the sale of Hummer to the Chinese firm has been blocked for good...according to BBC.

[henk4]

Yep, I read that too. Sensible people, these Chinese....

[LeonOfTheDead]

After succeeding in coupling Saab and Koenigsegg, I'm struggling to find a partner for Hummer.
I was considering Italian Fornasari, but I'm afraid of the consequences.

[Ferrer]

After succeeding in coupling Saab and Koenigsegg, I'm struggling to find a partner for Hummer.
I was considering Italian Fornasari, but I'm afraid of the consequences.

I honestly doubt there is any suitable partner.