Take a Gamble make some GOOD money now!!

Jabow · Nov 20, 2008

General Motors stock is now 2.88, it was about 60 dollars a few months ago, I say take the best gamble here and buy a bunch of GM stock, like baseball America will not make GM go away.

take that to the BANK!!

arniesarmy · Nov 20, 2008

Living in a city where a GM plant is going to close four days before Xmas, I agree whole-heartedly. No way the US govt. can afford to let these car companies go under.
The UAW is willing to make concessions and bring workers' costs down.

Presto · Nov 20, 2008

Thing is GM may not go away, but the common stock will. WAMU is an example.

Cusipz · Nov 20, 2008

AIG ($1.75) is another example. Yes, they will be bailed-out, but the stock holders will get close to nothing.

ProPokerPlayer · Nov 20, 2008

Their CEO's will be Barney Frank and Chris Dodd...$2.88 might be the highest it will ever be again..But you can book it will go to zero under those 2 zero's..........

Uno · Nov 20, 2008

throwing your money away with these guys or Ford for that matter. bankruptcy will wipe shareholders out.

Jabow · Nov 20, 2008

Cusipz said:
AIG ($1.75) is another example. Yes, they will be bailed-out, but the stock holders will get close to nothing.

The key is you will be buying in cheap, sorry for the guys who bought in at say $30 and see it go to $60 now its $2.88.

If it goes to even 5 or $10, then cash out if you wish, still a good profit.

DNoonan · Nov 20, 2008

I was thinking the same thing when I bought SIRI (sirius) at 0.36 a couple weeks ago...looks like a bad gamble so far (it's at like 0.14 now).

they have a bunch of debt coming due next year and it is looking like they won't be able to make the payments with their existing credit facilities and with the credit markets all locked up

Uno · Nov 20, 2008

2 things you have to ask yourself...

1. will they file bankruptcy?
2. how will they start making money?

you cannot answer either which means even $1 for this stock is too expensive.

Uno · Nov 20, 2008

if you want a good gamble take a look at shrpq - that is the sharper image brand. nearly 0 risk with that one.

krk1030 · Nov 20, 2008

Even if they get bailed out, they will just fail again. When you are losing money, someone giving them money wont make them more successful. It just delays the inevitable.

ThEjAcK · Nov 20, 2008

Man i love the fact that some people fell bad for these GM employees. They make twice as much then most people. And the best part they are in a union so while everyone else has to work extra hard to get their bonus,, the GM employees in the union get a bonus no matter what every year. No wonder they dont make anything good cuz they dont try hard enough knowing that they will get their bonus no matter what. Dont feel bad Fire those ****s:thumbsup:

oldmanTED · Nov 20, 2008

Save your money. GM stock will be worthless next year.

punter · Nov 20, 2008

I dont know if bankruptcy is on the horizon. From what I read the suppliers are in dire straights so if the MFGers take ch11 it might be the end of the OEM's that they depend on.

michael777 · Nov 20, 2008

oldmanTED said:
Save your money. GM stock will be worthless next year.

thanks ted, <TABLE class=t0 cellSpacing=0 border=0><TBODY><TR class=altrows id=4381410541><TD></TD><TD>11/10/2008 15:27:43</TD><TD></TD><TD class=wrap>Bought 1000 GM @ 3.15
</TD><TD></TD><TD class=negChange style="PADDING-RIGHT: 9px" align=right>3,159.99</TD></TR></TBODY></TABLE>
:hanging:

Cusipz · Nov 20, 2008

michael777 said:
thanks ted, <table class="t0" border="0" cellspacing="0"><tbody><tr class="altrows" id="4381410541"><td>
</td><td>11/10/2008 15:27:43</td><td>
</td><td class="wrap">Bought 1000 GM @ 3.15
</td><td>
</td><td class="negChange" style="padding-right: 9px;" align="right">3,159.99</td></tr></tbody></table>
:hanging:

Get out now, and take the small loss.

michael777 · Nov 20, 2008

i think i will

Uno · Nov 20, 2008

they make a shit product and when you make a shit product you don't last.

HuskerFan1 · Nov 20, 2008

why anyone would even speculate when the DOW is under 8k is beyond me...i mean you have ridiculously strong companies trading at decade low's...and people wanna gamble on a dog like F and GM....like others said the common shareholders will get nothing...read the SELL SELL SELL thread in the politics forum and they will say not to buy shit STILL...bc its going lower....and if you do wanna start throwing money in the market....buy CLEAN balance sheet companies that are profitable and well off their highs (which everyone is)....

automakers arent a gamble...its flushing your money down the toilet...:nohead:

Herminator · Nov 21, 2008

I think the odds are 2-1 that GM files Chapter 11 and the stock becomes worthless. They will never be profitable again with the UAW contracts that presently exist. Also, in Chapter 11 they are court ordered to come up with a viable business plan. This will be a painful process no matter what happens. The good news is that the present upper management would mostly likely be fired. A bail out would only delay the natural course of events for 2-6 months.