I cant figure this out

[heycods]

General Motors, just recently announced they were thinking of going into bankruptcy. They also announced they have lost billions of dollars. In addition they announced that automobile sales were at an all-time low. <br /><br />What I can't figure out is why the he!! their stock keeps climbing! Of the 55-some point climb in the Dow Jones, Wall street states that the big climb is due to GM stocks going up over 10%! <br /><br />GM is posting record losses, GM is posting miserable sales, GM is talking about going out of business ... yet their stock rose 10%?

 

[Haut Medoc]

Re: I cant figure this out

Ask D.Cheney, the "Dark Lord" will know ....<br />He gets all the inside info ....<br />GM is gonna get the contract for a new tank or Hummer or something, stay tuned! ...JK

 

[heycods]

Re: I cant figure this out

Are you saying thier is insider imformation leaking out. It would appear that is true or the American people are just stupid

 

[stan_deezy]

Re: I cant figure this out

Maybe's people are buying stock because GM are indicating a willingness to be bought over by another Corp.?<br /><br />GM getting bought by the Chinese for example? <br /><br />Woah boys and girls, don't all rush to beat me around the head, I just said it's a possibility: your Government better get some laws in place PDQ or GM will go the way that Rover went in the UK: sold for buttons to the Chinese who came in and stripped the plants bare and shipped everything back to their homeland with the promise of "we'll return to build cars in Britain soon".........erh, we're still waiting ya rice-eating theives

 

[RubberFrog]

Re: I cant figure this out

lol @ deezy

 

[Bob_VT]

Re: I cant figure this out

Do you remember the Dodge/Plymouth/Chrysler rescue in the late 70's early 80's? Lee Iacocca put that car company back on the map with Gov't help. I was on active duty and the gov't purchased thousands of them. We drove alot of cheap junk in the service back then. The Dodge 1 -1/4 ton trucks that were VERY short lived, all our gov't cars were Omni's, Horizons, and K cars.<br /><br />GM designed their own demise. There lease programs were great on trucks and cars but, they are left with a surplus of vehicles with 36,000 miles now (and no where near the re-sale value). They continue to sell at a loss to rental companies that are once again flooding the market.<br /><br />GM and the Chinese really is not that far away. Look at the size of that market available! That rumor has been around longer than the bankruptcy.

 

[Kwas]

Re: I cant figure this out

GM never announced that they would be going out of business because of a possibility of bankruptcy. It would have been for reorganazation. It looks as though that may not happen. The reason that the market is bullish on GM now is because they are making all the right moves to recover from their 10.6 billion loss in 05. The have sold off part of GMAC and parts of their Asian operations to raise needed cash. They have also bought out and contune to buy out employees. They are also closing plants to cut costs as is Ford Motor CO.

 

[kenimpzoom]

Re: I cant figure this out

More evidence that the market can be manipulated by nothing more than a whim.<br /><br />Real numbers no longer mean anything.<br /><br />The only thing that matters is meeting their projected results which were pulled out of someones (edit).<br /><br />Ken

 

[Kwas]

Re: I cant figure this out

Hardly a whim, the figures are real. That is why the market is reacting favorably.<br /><br />SAN FRANCISCO (MarketWatch) -- General Motors Corp. (GMGeneral Motors Corporation<br />said late Monday it has finalized its first-quarter financial results to reflect the accounting treatment for its retiree health-care settlement agreement and other adjustments. The automaker reported net income of $445 million, or 78 cents a share. GM had previously reported a preliminary loss of $323 million, or 57 cents a share. Excluding special items, GM reported adjusted income of $184 million, or 32 cents a share, compared with a preliminary adjusted loss of $529 million, or 94 cents a share. Due to the change in the accounting treatment of the United Auto Workers healthcare settlement, GM said it now expects $4.5 billion of structural cost reductions in 2006, compared with the $4 billion it previously estimated. The company also revised its first-quarter financial results for General Motors Acceptance Corporation to reflect finalization of the tax effect of the sale of GMAC Commercial Mortgage. GMAC earned $637 million in the first quarter, compared to the previously reported preliminary profit of $605 million.<br /><br />I always like good news.

 

[technostingray]

Re: I cant figure this out

Bringing in the sheeves, bringing the sheeves, we shall come capitulating bring in the sheeves.

 

[Dave Abrahamson]

Re: I cant figure this out

Originally posted by Kwas:<br /> to recover from their 10.6 billion loss in 05.

Did they really lose 10.6 billion, or just make 10.6 billion less than last year?

 

[timmathis]

Re: I cant figure this out

Buy American Keep it here.

 

[rwise]

Re: I cant figure this out

and if chevy is no longer "American" then what? That wouls surely disapoint the bow tie owners I know,,,,,,,

 

[Kwas]

Re: I cant figure this out

Did they really lose 10.6 billion, or just make 10.6 billion less than last year? <br />

Well, they were losing money on every car that they made in this counrty,I think that pretty well explains it.

 

[BOBPELL]

Re: I cant figure this out

Let's not get all teary eyed. GM and every other American car manufacturer deserves what they are getting. It was a whopping 33 years ago folks that the first OPEC cut occurred. Did you forget the gas lines and rationing process already?<br />Did any of the big 3 take a serious look at the quality and high gas milage cars being sold here by Datsun (now Nissan), Toyota and others? No!!! They continued to design and sell crap and we bought it. Look at the American cars of the last 25 years, they were horrible. Just recently, very recently, have they begun to improve. I was one who purchased the junk they produced but not any more, I've had enough. If it doesn't say Toyota or Honda on it this famly will NOT own it. When asked "where is your responsibility to the USA?", the answer is my first responsibility is to myself. I refuse to buy the junk these car companies put out.