[OT] More cuts at GM

[Zeeman28a]

Originally Posted by GM NEW YORK (CNNMoney.com) -- General Motors Corp. said Tuesday it will suspend its dividend, sell off $4 billion to $7 billion worth of assets and cut 20% worth of salaried cash costs in an overall plan to save billions of dollars. To see the entire article, go to http://money.cnn.com/2008/07/15/news...ex.htm?cnn=yes

[Maymyvetteliveforevr]

Is it time to purchase 10,000 shares?

Edit:

I noticed it's at $9.89 as of 1:14pm and it's actually up 5% today. I haven't been following it but wasn't it at $7.00 several days ago?

[Zeeman28a]

Nope. It's lowest price past 52 weeks is $9.14. It's highest past 52 weeks was $43.20. Ouch!

GEN MOTORS (NYSE:GM) Delayed quote data
Last Trade: 9.79 USD
Trade Time: 2:39PM EST
Change: 0.41 (4.37%)
Prev Close: 9.38
Open: 9.44
Bid: N/A
Ask: N/A
1y Target Est: 13.94

Day's Range: 8.81 - 10.08
52wk Range: 9.14 - 43.20
Volume: 26,385,639
Avg Vol (3m): 25,771,400
Market Cap: 5.54B
P/E (ttm): N/A
EPS (ttm): -74.28
Div & Yield: 1.00 (10.66%)

[TGstring]

gm is just too big to evaporate.

I might seriously consider getting in on these lows.

Everyone is selling these sob stories in the states to get a spot at the trough...

[2CRUDE]

Originally Posted by TGstring

gm is just too big to evaporate.

I might seriously consider getting in on these lows.

Everyone is selling these sob stories in the states to get a spot at the trough...

they may not disappear but being a profitable co is a different story.
IMO our neighbors to the south are in a bigger pickle than they lead joe-public to believe. i'm really interested to see the fallout. one can only guess at the affects....

[FFIN90]

Originally Posted by 2CRUDE

they may not disappear but being a profitable co is a different story.
IMO our neighbors to the south are in a bigger pickle than they lead joe-public to believe. i'm really interested to see the fallout. one can only guess at the affects....

can you say " winter condo REAL cheap".

[monstrocity]

Originally Posted by FFIN90

can you say " winter condo REAL cheap".

I already got mine picked out. Heading down this fall to hopefully make a deal. I'm only 38 so by the time I retire the market and dollar could be back where it was!

Get your financing in cdn though... nobody's lending down there.

[2CRUDE]

Originally Posted by FFIN90

can you say " winter condo REAL cheap".

i was looking to invest in strip joints
no matter how poor a person gets, there's always enough ching for a cold on and a lap dance...recession proof.

[FFIN90]

Originally Posted by 2CRUDE

i was looking to invest in strip joints
no matter how poor a person gets, there's always enough ching for a cold on and a lap dance...recession proof.

that or open a funeral business, no shortage of customers there.