OT: GM stock

[Stationmaster]

Okay Lancie, I've got my bid order in for $5000.00 worth of GM stock at $.02 a share like you suggested.......

 

[Lancie1]

I see that it is about 0.75 now. It may hit .02 in another week. No guarantees however: who knows what can happen in this situation?

 

[Stationmaster]

Actually I was kidding... The most recent news releases say that the bankruptcy that they intend to file on Monday leaves NO value for share holders. I'm not completely sure what that means but I don't have a warm fuzzy feeling.......They're almost certain to halt trading on it.

 

[Lancie1]

If I owned it now, I would be very upset at having it drop to 0 due to government intervention. There will probably be a bunch of court cases, or one class-action shareholder suit against the government actions.

Hmmm, maybe I better put in a limit order myself. It could rebound in a couple of months, when things settle out, but it will never be the company it once was.

Let's see, for $500 I could buy 25,000 shares of GM at $.02. I always wanted to own some GM stock but considered it too expensive. Now may be my big chance!

 

[Stationmaster]

Well at THOSE prices, we could at least use it for very interesting wallpaper.....

http://money.cnn.com/2009/05/29/news/companies/gm_worth/index.htm?postversion=2009052919

 

[BobB]

Warranties on GM cars have to look pretty 'dickie' too.

 

[Controls_Engineer79]

the governement has already said (at least up here in canada) that all warranties on GM and crysler products will be backed up by them - so theres no reasion not to buy their products

 

[RussB]

As a citizen of the US, I am now a not so proud majority share holder of GM, as such all of you GM owners have my appologies.
Anyone have an old notebook with DOS 6.3 that you will trade for my shares, I could probably throw in a used PDA?

 

[rdrast]

the governement has already said (at least up here in canada) that all warranties on GM and crysler products will be backed up by them - so theres no reasion not to buy their products

That in itself is reason NOT to purchase.

 

[RussB]

GM's new market may be a bit smaller than in the past.

http://ak.imgfarm.com/images/today/creators/cb/cb0521g.gif