GM flat broke?

[jediknight36]

Any one see this story this morning... Wonder if I should by stock in them or not.

GM: Huge loss leaves it almost out of cash - Nov. 7, 2008

[jetfuel]

in last night news, they said GM had enough $ for 3 more month...after that it will try to get government $ to stay open....
their new hybrid, the one everybody talks about, gets a poor 19-21 mpg, yeah , like if I can afford an Escalade....last night they were also pumped up about the Volt..the POS electric car...$ value, by GM president< it will have to sell up to 60K just to break even...what a laugh...and it gets about 35-40 mles per charge...
...let them go belly up...

jetfuel

[BigWarpGuy]

Alot of people will lose jobs if GM goes out of business. The auto workers union is one of the (if not thee) highest paid workers in the country; IIRC. Perhaps this contributed to the higher prices of GM cars? Perhaps if GM started thinking small and economical, they might make a profit again?

[Dunerunner]

Any bets that GM gets a Government contract to provide cars to GSA? Oh, that of course, would include a $50 Billion bail-out!! GM isn't going anywhere! Someone mentined a stock purchase...well that's a gamble but probably worth the risk.

[jediknight36]

Originally Posted by BigWarpGuy

Alot of people will lose jobs if GM goes out of business. The auto workers union is one of the (if not thee) highest paid workers in the country; IIRC. Perhaps this contributed to the higher prices of GM cars? Perhaps if GM started thinking small and economical, they might make a profit again?

But French auto workers get paid pretty well too, and get pretty goo benifits mandated by the Government. I dont think its the worker that is the problem. I think its the factory and the product. But both will costs loads to overhaul.

Originally Posted by Dunerunner

Any bets that GM gets a Government contract to provide cars to GSA? Oh, that of course, would include a $50 Billion bail-out!! GM isn't going anywhere! Someone mentioned a stock purchase...well that's a gamble but probably worth the risk.

At $4 a share, I was thinking about that. Kind of a side note: Do I need a broker to buy stock? Do I need to go thru an online trade company? Can I just buy from teh company?

[xcrew229x]

Things get bad enough, you can buy the whole company.

[jediknight36]

Originally Posted by xcrew229x

Things get bad enough, you can buy the whole company.

Ford's stock is low too. something like $1.20/share.

[HGB]

What was that saying years ago? - What's good for General Motors is good for the country...and vica versa.

[jmonty]

Personally the American car companies lost me a long time ago. I watched my parents waste money on lemon American cars so I've never bought an American car myself. IMO the American car companies need to make cars that appeal to the younger buying crowd who don't remember their past transgressions.

[Dunerunner]

Last year at this time, GM was at $36/share. It's stock hasn't been this cheap since...well the web page didn't go back that far!! I don't believe GM is going to go under. Relax some of the regulations and let them produce cars that people want..Electrics, high mileage and efficient diesels, etc.