quote Originally posted by rogergarrison: News just said GM was down 45% for October. I might have heard wrong if its 35%. Have to watch more later, I just caught the end of it as I walked in.

They are all taking a dump though, Toyota and Honda I heard dropped approx 25% too.

My GM stock in our stock market game just shot up 2.5 % today.

This is going last until the election is over at least. Then it may drop or rise depending on who gets in.

Loafer any dealer who said that to a customer is the worst of bad dealers. You don’t bad mouth your own product. I bet this guy didn’t want to fix anything that was under warranty ether.

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

Ya, I agree, no one NEEDs a new car. They may need another car. Whats going to happen as I see it, people are going to keep what they have a lot longer. They will fix a car regardless if its worth it or not or buy a used one. I myself have many stories of paying more to fix them than they were worth. I probably wasnt too smart spending all the money I did on my Coronet....but I wanted too. I doubt if I could ever get what Id really want for all the work put into it. My dad was always one to buy a nice cream puff used car and drive the wheels off it, usually keeping it going for at least 10-12 years. When it broke down and was worth only $100, thats when hed go shopping.

What really gets me nowadays, high school kids all expect to get new or fairly new cars in school. When I went to school, you bought yourself a 15 year old POS from the corner car lot or you inheirited your parents or grandparents old 4 door sedan or station wagon and were happy with it. High school parking lots around here are full of decked out Ricers, new SUVs, even BMWs and the teachers are driving 1989 cavaliers and minivans.

[This message has been edited by rogergarrison (edited 11-04-2008).]

quote Originally posted by 84fiero123: My GM stock in our stock market game just shot up 2.5 % today.

Stock price--especially one down as much as GM's-- has little to no bearing on a company's fundamental performance. In other words, the market price of GM's stcok could jump to $100/share and it wouldn't mean they sold one extra new vehicle.

[This message has been edited by maryjane (edited 11-04-2008).]

quote Originally posted by rogergarrison: Thats losing HALF of their business.

Nah Roger, I think. They do not make money by selling stock, they make it by selling vehicles. I am thinking that stock just spreads the profits or losses around.

quote Originally posted by maryjane: Stock price--especially one down as much as GM's-- has little to no bearing on a company's fundamental performance. In other words, the market price of GM's stcok could jump to $100/share and it wouldn't mean they sold one extra new vehicle.

They make money on the initial offering--the ipo--and any subsequent offerings. After that, it's the same stock just being traded back and forth (sold & bought) between investors. EXCEPT, when a company is involved in a stock buy back program.

All clear now?

I understood it to mean there vehicle sales were down 45%. If thats correct that means there only selling half as many as they did last year, which also wasnt a good year by any stretch. I didnt take it as meaning their stock price was down that.

So what actually happens when/if GM NA declares bankruptcy? Im talking about thier assets, jobs, available products.. ect

quote Originally posted by 4-mulaGT: So what actually happens when/if GM NA declares bankruptcy? Im talking about thier assets, jobs, available products.. ect

Depends--there are different types/stages of bankruptcy. Some ---a company is allowed to reorganize and try to work themselves out of the hole they are in--other kind means insolvency-kaput-finished-gone.
The first stage, would result in whatever agreement the corporation worked out with the bankruptcy court, and that can vary a great deal. Basically, a corporation files this in order to seek protection from creditors. Lehman Bros did this right before the govt brokered a deal for someone else to take them over. There is a time limit a corporation can remain in this type of bankruptcy. If they can't work themselves out of the hole within that time, they slip into the next type--the worst kind.

For the 2nd kind of bancruptcy, where the company goes completely under, the workers are just out of a job--with that particular company name anyway. The assets are usually auctioned off under bankruptcy court supervision. The creditors get their $ back if the assets bring enough $. The stockholders are just SOL. Uncle Sam would be one of the creditors and would get their $ right off the top-- from sale of the assets. If it goes like it did when Farmtrac North America (they built farm tractors) went belly up last year, the dealers with the products on the lot would have to sell them "as is-where is-no warranty".

[This message has been edited by maryjane (edited 11-04-2008).]

quote Originally posted by 84fiero123: All those are the dealer. Not GM, you got a POS dealer. Granted that is what most people see as GM but it is just one part.

A POS dealer selling a POS car.

And I thought you were claiming GM's problems were solely due to bad management. Now you're willing to allow that there are crappy GM dealers too. Willing to admit yet that the UAW plays a part in some of this mess?

GM and Ford are supposed to release 3rd quarter reports tommorrow.