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A Day After GM Channel Stuffing Story Goes Mainstream, Here Comes Morgan Stanley To The Rescue With Its "Top US Auto Pick"

Tyler Durden's picture




 

It was only yesterday when we observed that the story of GM's relentless channel stuffing has now gone mainstream. Sure enough, a few hours later, here is Morgan Stanley with a stick save so pathetic it does not even deserve commentary.

GM Morgan Stanley

 

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Wed, 07/06/2011 - 09:53 | 1429398 malikai
malikai's picture

Seriously? Who the hell are they kidding here?

Wed, 07/06/2011 - 10:34 | 1429574 MFL8240
MFL8240's picture

3/4 of the people in America.  Thats why you have Obama in the White House.

Wed, 07/06/2011 - 10:49 | 1429626 SheepDog-One
SheepDog-One's picture

-Obama 65% disaproval rating on handling of the economy-

Wed, 07/06/2011 - 10:53 | 1429640 nope-1004
nope-1004's picture

Who is "GM"?

I thought they went bankrupt, and in a free market, bankrupt companies cease to exist due to their inability to compete.

<sarc>

Of course, I could be wrong.  Logically, I think I am.

 

Wed, 07/06/2011 - 10:57 | 1429653 malikai
malikai's picture

I'm glad you have woken from your 3+ year coma. Have some Kool-Aid.

Wed, 07/06/2011 - 11:00 | 1429657 Ergo
Ergo's picture

"Who is GM?"  -->  Government Motors?

Wed, 07/06/2011 - 11:11 | 1429707 SheepDog-One
SheepDog-One's picture

CRIMINAL ACT on Morgan Stanleys part in my opinion placing loser Gubment Motors over Ford which is actually selling cars, but is not under the banksters wing as it refused anything to do with bailouts!

Wed, 07/06/2011 - 11:15 | 1429725 flacorps
flacorps's picture

Correction, Ford supported the bailouts of its competitors because loss of common suppliers would have crippled them too. Or at least that was a good cover story for a company that had learned not to raise bank$ter'$ ire when the Dodge boys were lured away and set up with their own company (a good look at Dodge's earliest emblem will give you some suspicions).

Wed, 07/06/2011 - 13:04 | 1430160 glenlloyd
glenlloyd's picture

+1

Wed, 07/06/2011 - 11:09 | 1429696 thunderchief
thunderchief's picture

Outrageous.  I wonder what Cannondale and Trek will send out in a PR response.

Wed, 07/06/2011 - 09:56 | 1429399 Xibalba
Xibalba's picture

(failed) male models turned 'wealth managers'...achem.......yes you Erik.  http://fa.smithbarney.com/erik.jack.willanger/

http://www.exploretalent.com/erikwillanger

 

 

Wed, 07/06/2011 - 10:10 | 1429472 MsCreant
MsCreant's picture

Pretty boy. I think there is a typo. Is that Morgan Stanley Smith Barney Frank he works for?

Wed, 07/06/2011 - 10:37 | 1429583 Xibalba
Xibalba's picture

whoever would stick it to him I'm sure. 

Wed, 07/06/2011 - 10:39 | 1429590 Problem Is
Problem Is's picture

Male model?
For what, an ugly stick magazine?

He looks like a pederast... Or Leann Rimes inbred brother...

Wed, 07/06/2011 - 10:50 | 1429632 SheepDog-One
SheepDog-One's picture

If thats a 'pretty boy' today, then dammit I missed my calling as a great Chippendales star!

Wed, 07/06/2011 - 11:58 | 1429931 MsCreant
MsCreant's picture

Photos please. I'll let you know.

I prefer men.

Wed, 07/06/2011 - 12:35 | 1430080 cougar_w
cougar_w's picture

Cold!

Wed, 07/06/2011 - 11:21 | 1429756 Miss Expectations
Miss Expectations's picture

Did you read his biography?

Northwest University, BA - Biblical Literature

Wed, 07/06/2011 - 12:48 | 1429865 Xibalba
Xibalba's picture

Nothing but the best minds for MS.   

Wed, 07/06/2011 - 09:53 | 1429404 Paralympic Equity
Paralympic Equity's picture

When I red it today I couldn't belive it, but sadly it is true.

This is just another evidence there is no place for reality in bizzaro world

Wed, 07/06/2011 - 10:56 | 1429649 ToNYC
ToNYC's picture

 

10 logical inconsistencies and fake science to dissemble real debate remains the SOP. No more bizarre than by choreography.

Wed, 07/06/2011 - 09:54 | 1429405 GeneMarchbanks
GeneMarchbanks's picture

Looks like they had an intern cook this up at Kinkos late last night.

This is comedy.

Wed, 07/06/2011 - 09:55 | 1429410 EscapeKey
EscapeKey's picture

Astonishing timing.

Wed, 07/06/2011 - 09:56 | 1429414 Cognitive Dissonance
Cognitive Dissonance's picture

Sometimes corporate whores only know how to be corporate whores......even when it's embarrassing to be one.

Wed, 07/06/2011 - 10:31 | 1429561 hbjork1
hbjork1's picture

CD,

For a very larger number of people, er, uh, analpores, the life goals are only about "winning".  To have embarrasment, one must have an ethical standard. 

 

Wed, 07/06/2011 - 10:42 | 1429600 Cognitive Dissonance
Cognitive Dissonance's picture

Can I have mine surgically removed or am I a terminal case and a hopeless cause?

Come on, you can tell me. I can take it. How much time do I have left among the living dead?

Wed, 07/06/2011 - 15:06 | 1430606 hbjork1
hbjork1's picture

CD,

I have been trying to answer that question for myself. 

Wed, 07/06/2011 - 10:41 | 1429601 V in PA
V in PA's picture

+1

Wed, 07/06/2011 - 10:40 | 1429598 Problem Is
Problem Is's picture

Sooooo... How much GM stock does MS need to unload?

Wed, 07/06/2011 - 10:43 | 1429610 Cognitive Dissonance
Cognitive Dissonance's picture

Is that GM stock in your pocket or are you just glad to see me?

Or both?

Wed, 07/06/2011 - 15:13 | 1430629 MsCreant
MsCreant's picture

Either one points to the possibility of a royal screwing.

Wed, 07/06/2011 - 09:56 | 1429416 Dreadker
Dreadker's picture

Baaaaah! Baaaaaaah!- must buy what banksters tell me.... Baaaaaaah! AAPL baaaaaah! GM baaaaaaaaaah!

 

And like all sheep... they'll get herded together and culled...

Wed, 07/06/2011 - 10:40 | 1429592 Oh regional Indian
Oh regional Indian's picture

Sheared then culled.
ORI

Wed, 07/06/2011 - 10:42 | 1429604 Cognitive Dissonance
Cognitive Dissonance's picture

Sheep, it's what's for dinner.

Wed, 07/06/2011 - 10:47 | 1429621 Yen Cross
Yen Cross's picture

 That was great.  Lamb Chops!

Wed, 07/06/2011 - 11:34 | 1429810 Cognitive Dissonance
Cognitive Dissonance's picture

The original.

Wed, 07/06/2011 - 11:49 | 1429877 malikai
malikai's picture

Oh I do love a bit of the Lamb Stew. Some rosemary and garlic. Lots of vegetables.

You have chosen my dinner tonight.

Wed, 07/06/2011 - 09:57 | 1429417 Jim B
Jim B's picture

Morgan Stanley = GM Wh@re  

Wed, 07/06/2011 - 09:56 | 1429418 NidStyles
NidStyles's picture

I think I will stick to my 22 year old Ford Truck, that still embarasses all other's on the trails for less than half the cost, and stay out of the automotive equities as well.

 

Old Ford Truck's are still the best for those that are looking to do the off-roading rig. I run a Full-sized Bronco and even when it was stock it was out running, and out handling every other truck on the trail's. Even those ridiculously over-priced Humvee's were sucking on the trail's. I don't know anything about street car's though, so YMMV. Those new Lincoln's are pretty nice though.

 

 

Wed, 07/06/2011 - 10:01 | 1429437 Dreadker
Dreadker's picture

Even those ridiculously over-priced Humvee's were sucking on the trail's....

 

Ummm yep - because if its not a military issue one and one of them bling bling i've got me some 30" rims pile of crap my smart car can probably handle the trails better ;-)

 

I agree though - my dad in law has an old F250 that he's used as his welding truck for 18 years... things a beast and still runs better than most newer trucks ;-)

Wed, 07/06/2011 - 10:17 | 1429502 Raymond Reason
Raymond Reason's picture

GM's small block 350 is a great motor though.  I've gotten over a quarter million miles on several of them.  Of course they were simple striped down basic trucks.  I learned, working in mobile home factories as a kid, that the basic models were the best built.  The fancy upgrade models were cursed and cobbled together because the "line" keeps moving, and you've got to keep up.   

Wed, 07/06/2011 - 10:40 | 1429597 hbjork1
hbjork1's picture

The push to get fuel economy and keep cost down has taken its toll.

It will get worse before it gets better.  Keep those olddies running.  For what you are looking for, modern technology cannot do better.

 

Wed, 07/06/2011 - 12:59 | 1430136 Rodent Freikorps
Rodent Freikorps's picture

I saw a Fiat commercial today for some little mini pos that still only gets around 30mpg.

What idiot in this world would buy somthing in Nano size that gets less milage than a 20yo turbo diesel?

Found it: The Fiat 500. Smaller than a mini Cooper and only 34 mpg.

Crazy.

Edit: heh, as an added bonus, it is made in Mexico for the US market.

Wed, 07/06/2011 - 11:02 | 1429666 ToNYC
ToNYC's picture

 

I found an almost 20yr old Ford Ranger with a 3600psi CNG tank and a bi-fuel switch. Can't say as I mind $1.78 gallon equivalent with 128 octane-rated methane when UNLD prints $4, but the point is GM could do this tomorrow with Obama and a pair of balls.

Wed, 07/06/2011 - 09:56 | 1429419 Yen Cross
Yen Cross's picture

 You did scroll the charts?  I did. GM is a giant Bumble Bee looking for a Chinese " Honey  Pot" 

Wed, 07/06/2011 - 11:01 | 1429660 kito
kito's picture

Yen, the point to be taken about gm is their chronic short sightedness with regards to the economy and consumer trends here in the u.s. Buick sales in china wont completely offset their inability to right their sinking ship.

Wed, 07/06/2011 - 11:03 | 1429661 kito
kito's picture

.

Wed, 07/06/2011 - 09:57 | 1429421 NumberNone
NumberNone's picture

Government is keeping both companies afloat...where do you think this sort of propaganda originates?

Wed, 07/06/2011 - 10:03 | 1429442 ATM
ATM's picture

 system than to have the govt controlled auto company, which needs to offload worthless paper being pumped by the govt controlled "investment advisory" firm who stands to make money as well peddling the worthless paper?

It's a perfect double whammy! Hype the BS, steal grandma's meager savings and skim a nice vig for the pretty banksters!

Next thing we will see is some sort of GM debt offering working it way through the hallowed halls of Goldman. 

Wed, 07/06/2011 - 10:18 | 1429494 hedgeless_horseman
hedgeless_horseman's picture

Still looking for the chart that shows historical and % of current sales to government fleets... 

Still looking....

Still looking...

It is almost like there is a blackout of the data.

 

Wed, 07/06/2011 - 11:15 | 1429723 Bicycle Repairman
Bicycle Repairman's picture

When you consider government (and rent-a-car) fleet purchases you realize how long US auto manufacturers have been on the dole.

Can we close down our current US car companies and start some new ones with new managment and systems?

Wed, 07/06/2011 - 11:24 | 1429769 flacorps
flacorps's picture

Tesla and Fisker might be an effort to at least keep 'em honest. But the new guys are also on the dole.

Wed, 07/06/2011 - 10:00 | 1429422 etrader
etrader's picture

whats happening at MS ? These days their making the  BAC desks look good.

Wed, 07/06/2011 - 09:58 | 1429426 docj
docj's picture

Sounds like someone needs to unload a whole big pile of Government Motors pseudo-stock and MS is more than happy to offer-up their loyal customers as potential suckers, I mean buyers.

Wed, 07/06/2011 - 09:59 | 1429429 firstdivision
firstdivision's picture

Today is a good day for the accumulation of GM Aug puts.

Wed, 07/06/2011 - 10:00 | 1429427 firstdivision
firstdivision's picture

The ad for FilipionoCubid.com that appeared next to the report was more informative on the direction of GM than the report. I did however love the asymmetric trianglefor the risk.  Other than that, total garbage and the MD that approved this report should be promoted to precipitate the fall of MS even quicker. 

Wed, 07/06/2011 - 10:00 | 1429431 jmoney
jmoney's picture

Love ZH, but agree with MS here.  Auto valuations are cheap (relative to history and broader market), new vehicle pricing is strong, cost structures have reduced breakevens, balance sheets are clean... Yes, sales are slow, inventories are a bit high, but at these valuations autos look cheap even if we stay at a ~11mm SAAR. 

Wed, 07/06/2011 - 10:03 | 1429445 firstdivision
firstdivision's picture

Are you f'ing kidding me?  This has to be a joke.  First of all, record amounts of people cannot afford a new car (new purchases are put off when you're on funemployment).  Second, the average workers pay has gone nowhere while prices for vehicles have charged upwards almost parabolically.  So where is this magical sales growth going to come from, cash for clunkers part deux?

Wed, 07/06/2011 - 10:37 | 1429585 Raymond Reason
Raymond Reason's picture

No money, no credit?  No problem. 

Wed, 07/06/2011 - 10:08 | 1429457 Internet Tough Guy
Internet Tough Guy's picture

Used car prices are up too. So is food. It's called inflation. Inventories are 'a bit high'? They will be parking unsold GMs on the moon.

Wed, 07/06/2011 - 10:49 | 1429535 Founders Keeper
Founders Keeper's picture

[They will be parking unsold GMs on the moon.]---Internet Tough Guy

They can park a black Dodge Ram 2500 HD 4x4 crew cab in my driveway if need be.

;)

 

Wed, 07/06/2011 - 12:15 | 1429987 Libertarians fo...
Libertarians for Prosperity's picture

Sorry, but you can't blame inflation or Bernanke for used car prices.  

Used car prices are up because dealers are starved for inventory (with exception to GM Silverado inventory), so dealers are going to the auctions and bidding up prices so they have something on their lots to sell.  Since dealers can't get enough new cars, they're buying from used auctions in hopes of converting new-car customers to used.  As soon as Japanese production returns to normal, used car prices will fade a bit.  

Secondly, the used car market is far stronger than its ever been, as buyers are not willing to spend as indiscriminately as they did in the past. So they're turning to used cars in an effort to be more frugal than before. It's not an inflation/Bernanke/printing press thing. 

On a different note, if you look at the profitability of many auto manufacturers, these companies have managed to trim so much fat from their ledger that they're actually making nearly as much money in 2010/11 as they did in 06/07, even though annual sales are only ~12M versus ~17M. For example, Nissan was making just over $7B at the height of their sales in 06/07.  Yet for FY10, they still made ~$6B, even though SAAR is off by ~30%.

It's a truly fascinating story of how nimble, efficient and cost-effective these corporations have become as they emerged from the ass-end of the recession. I think this speaks volumes about US corporations as a whole, and partly illustrates how they've have managed to post stunning profits even though middle class wealth as been eviscerated. 

In short, these companies are making basically the same profits as before, which explains why the equity markets are totally decoupled from the struggles of the individual worker.  

 

 

Wed, 07/06/2011 - 12:45 | 1430115 FeralSerf
FeralSerf's picture

Negative real interest rates, a giant form of corporate welfare, doesn't hurt the bottom line either.

Wed, 07/06/2011 - 10:36 | 1429458 Yen Cross
Yen Cross's picture

 Cars are chunks of parts! " Transformers" commodities and nothing more! If you want to go nuts and bolts that's a different story!        YEN

 

  hey worthless junkster. I own [F} @ .89 after the 08 fiasco. Ford put their financial house in order long before. They were tanking in the late 90's and locked in some good rates. The lenders couldn't go ponzi on them. SO I bought them.

Wed, 07/06/2011 - 10:29 | 1429549 notadouche
notadouche's picture

That was the same argument used to sway people to buy GM stock the last time it was in the mid 30's.  And man when it went to the 20's let's pound the table.  Then the low teens and ohmy look how cheap it was in single digits.  And the it got so cheap it was at zero.  BUY BUY BUY.  Fool me once shame on you, fool me twice shame on me.  Or as Bush Jr so aptly put it "Fool me twice, uh uh, you don't get fooled again".

Wed, 07/06/2011 - 12:22 | 1430022 karzai_luver
karzai_luver's picture

Uh, well then BUY BUY BUY, and you can have my share.

You and many more are going to be torn apart.

 

Wed, 07/06/2011 - 10:00 | 1429433 idea_hamster
idea_hamster's picture

"Our 2H forecasts include large mix headwinds to manage 120 days supply of pick-up truck inventory."

WTF does that even mean?

Wed, 07/06/2011 - 10:15 | 1429489 mayhem_korner
mayhem_korner's picture

Means bonuses are going to be paid in Silverados.  Offshore, of course.

Wed, 07/06/2011 - 11:10 | 1429704 ToNYC
ToNYC's picture

 

GM vehicles will be optional Social Security checks, pari-passu and all that.

Wed, 07/06/2011 - 10:01 | 1429440 orangedrinkandchips
orangedrinkandchips's picture

Canned shit.

Gee, how many more fucking greedy stooges can we get to analyze GM....1 million? 2? 3? Pay them millions per year to put out this shit just to keep them busy.

what a joke.

Wed, 07/06/2011 - 11:14 | 1429717 ToNYC
ToNYC's picture

 

"If it bleeds, it leads" has morphed into if you read (this), you bleed. Money and mutation never sleeps. Trash DNA extender where only junk DNA is worth a shot.

Wed, 07/06/2011 - 10:06 | 1429453 rsnoble
rsnoble's picture

I know some guys that work there, some of them really have no idea of what's going on.  They're too busy on their days off playing with their new toys to worry about any of this crap.

Wed, 07/06/2011 - 10:08 | 1429463 lincolnsteffens
lincolnsteffens's picture

Did they declare what their financial interest is in GM? How many shares? Banking

relationship? Scratch my back / I'll scratch yours?

Wed, 07/06/2011 - 10:09 | 1429469 agNau
agNau's picture

Is there a presidential election coming up? Wait, let me check my calendar.

Wed, 07/06/2011 - 10:23 | 1429529 earnulf
earnulf's picture

I would propose the author of this BS be placed in a private cell until December when he can be prosecuted for misleading investors.

Wed, 07/06/2011 - 10:32 | 1429570 Founders Keeper
Founders Keeper's picture

Wall Street gone lawless.

But a lie cannot live forever.

 

Wed, 07/06/2011 - 10:26 | 1429538 gwar5
gwar5's picture

The economic drones are all on the same page. The level of coordination and complicity is amazing, they're all on automatic pilot. It's a conspiracy worthy of racketeering charges. There just aren't enough jails.  

If China had the ability to foreclose on America, one of the first things they'd do is line up the top twenty bankers on Wall Street and publicly shoot them as an example. 

Wed, 07/06/2011 - 12:26 | 1430037 karzai_luver
karzai_luver's picture

Well I could live with that!

:)

 

Wed, 07/06/2011 - 10:34 | 1429540 ebworthen
ebworthen's picture

 

"In our view, GM’s product cadence can only move one way: UP."

Are they dancing down a staircase with Top hat and cane?  I hear them singing:

"Everything's...coming up...rose's!!"

"Product cadence"?  Don't they mean diahrrea?

So not only do private bondholders get screwed by Government Motors, now the dealers do with GM channel stuffing, and now Morgan Stanley is cozying up to the banks and government owners with rose colored "only way is UP" propaganda.

The banks aren't being nationalized as much as the government is becoming a national coporation by fiat.

Kudlow isn't perfect but this is a good take on GM, the White House reaming of bondholders, and Timmy G in bed with Wall Street.

http://www.nationalreview.com/corner/180990/geithner-fox-guarding-henhou...

 

Wed, 07/06/2011 - 10:30 | 1429557 Raymond Reason
Raymond Reason's picture

...but there is no joy in Motown, the mighty Silverado has struck out. 

Wed, 07/06/2011 - 13:18 | 1430213 NotApplicable
NotApplicable's picture

LOL

Wed, 07/06/2011 - 10:40 | 1429596 Atomizer
Atomizer's picture

Fuck GM and the golf cart they rode in on.

Wed, 07/06/2011 - 10:42 | 1429606 Problem Is
Problem Is's picture

Obama Bin Lyin' Fact
Did you know Cash4Clunkers covered golf carts??

Wed, 07/06/2011 - 10:53 | 1429639 Yen Cross
Yen Cross's picture

 +1 and screw Fiat to. The company that pillaged Chrysler!   Italians, go figure?

Wed, 07/06/2011 - 10:47 | 1429617 johngaltier
johngaltier's picture

Why is there absolutely no mention of pension liabilities? That's what put them in cash burn in the first place.

Wed, 07/06/2011 - 10:54 | 1429642 mendigo
mendigo's picture

yes, this does not get enough discussion

it was common knowlege that gm was headed for bankruptcy years before the downturn - they used the crash to cover their mis-management. so this was a pure management/union bail-out - buying of votes and paying-off backers

Wed, 07/06/2011 - 12:22 | 1430021 Clark Bent
Clark Bent's picture

In part that is what Obamacare is all about for GM and other businesses that launder money to the Democrats through unions. The plan is of course to transfer the unsustainable burden of GM's benefits to the U.S. taxpayer. I don't know why any American would buy a GM car and support this fascism. GM is dead to me, as is GE, etc.etc. Whatever happened to buying products for non-polotical reasons? 

Wed, 07/06/2011 - 10:48 | 1429625 mendigo
mendigo's picture

i don't see much mention of it in media but GM did have pretty good lease program going on their trucks but the problem is the underlying pricing. the dealership seemed to be doing little business. they must be waiting for pent-up demand. I don't see GM or Ford as viable choice for small/mid passenger car - poor quality, weak styling and feel low grade.

it's not just the car companies. i feel that, across the board, companies are pushing really cheap crap at moderately elevated prices knowing that there is pent-up demand and so they maintain/boost their margins and soon the product will need to be replaced. it's a hidden form of inflation

so companies are maintaining record margins beased on pushing cheap crap and laying-off back-office staff. how bullish is that

Wed, 07/06/2011 - 10:49 | 1429627 johngaltier
johngaltier's picture

Oh yeah, there it is on page 7,

5. Pension funding needs uncertain.

Wed, 07/06/2011 - 13:22 | 1430224 NotApplicable
NotApplicable's picture

The pensioners though, their needs are certain.

Wed, 07/06/2011 - 10:53 | 1429638 SheepDog-One
SheepDog-One's picture

Bankster bonuses will now be paid in GM dually pickups and Volts that no one wants.

Wed, 07/06/2011 - 11:02 | 1429665 urbanelf
urbanelf's picture

Page 3 is the best with the imagined future sales.

Wed, 07/06/2011 - 11:02 | 1429667 urbanelf
urbanelf's picture

Page 3 is the best with the imagined future sales.

Wed, 07/06/2011 - 11:10 | 1429701 mess nonster
mess nonster's picture

Within the walled citadel, the last bastion of the failed empire, the intrigues of the Imperial Court went on as ever. The cooking fires of the barbarians, massed in their countles hordes outside the gates, sent the occasional unsavory whiff through the air, and the reports from the battalion commaders who guraded the walls, were always alarming. But the courtiers had their positions  to attend to. The Emperor was a drooling idiot, and the Treasury was empty. The Army was a motley collection of slaves and feckless comission-buyers, and the citizens either secretly helping the enemy, or looking for a handout. But the Duke of Bedlam saw a chance to become the Imperial Chamberlain, if only he could out-manipulate the Count of Incompetencia and the other denizens of the Emperor's inner circle... 

Wed, 07/06/2011 - 11:16 | 1429724 SP666_OnTheWay
SP666_OnTheWay's picture

Morgan Stanley another bunch of fking bankster pigs who deserve a royal skewering and barbequed over a roaring nuclear inferno ...

http://eleninandbankers.webs.com

Wed, 07/06/2011 - 11:36 | 1429814 dexter_morgan
dexter_morgan's picture

This whole unified scam we live under sickens me.

As an aside, have they actually sold any of those POS's known as Volts?

Wed, 07/06/2011 - 12:28 | 1430042 Clark Bent
Clark Bent's picture

They are moving briskly for others getting taxpayer money to buy them. 

 

http://gm-volt.com/2010/11/12/ge-to-buy-12000-chevy-volts-cruze-eco-gets...

Wed, 07/06/2011 - 13:28 | 1430230 NotApplicable
NotApplicable's picture

Maybe GE will turn them into gigantic tazers and sell them to Homeland Security.

I like how the author thinks he is getting 384 MPG in his Volt, because we all know, "electricity is free!"

Well, Fukushima notwithstanding.

Wed, 07/06/2011 - 11:49 | 1429884 SeverinSlade
SeverinSlade's picture

I saw this news alert pop up in my Ameritrade account this morning.  I can honestly say I laughed pretty hard.  I then asked myself, "How can ANYONE take investment advice from Morgan Stanley these days?  Their most recent gaffe was betting against PIMCO on inflation."

Wed, 07/06/2011 - 12:06 | 1429968 digalert
digalert's picture

I'm sure the Barama regime reminded MS of next years election and the need to unload all the GM doggy diamonds, fast.

Wed, 07/06/2011 - 13:17 | 1430206 SAME AS IT EVER WAS
SAME AS IT EVER WAS's picture

This company sold pure shit and got a second chance. The stock holders got bent over. Old ticker symbol GM-Worthless,new ticker GM-$30.00+. Talk about a kick in the pants. This company should have been turned into a landfill. Not the other way around.

Wed, 07/06/2011 - 13:49 | 1430317 glenlloyd
glenlloyd's picture

what a POS

Wed, 07/06/2011 - 15:51 | 1430737 robnume
robnume's picture

Government Motors, I hear, has a HUGE inventory. I think their cars are ugly anyway, although not as ugly as the Chrysler/Dodge models. Theses companies are not well thought of by Consumer Reports, which is independent, as opposed to the Consumer's Digest, an industry shill. The foreign cars are still the best buy for the money, particularly the higher end manufacturers such as Audi, Lexus, etc. How Morgan Stanley is qualified to judge ANY car dealer(s) is beyond me. I won't be buying an american made car next time for all the fiat currency in the world.

Wed, 07/06/2011 - 16:04 | 1430768 robnume
robnume's picture

Government Motors, I hear, has a HUGE inventory. I think their cars are ugly anyway, although not as ugly as the Chrysler/Dodge models. Theses companies are not well thought of by Consumer Reports, which is independent, as opposed to the Consumer's Digest, an industry shill. The foreign cars are still the best buy for the money, particularly the higher end manufacturers such as Audi, Lexus, etc. How Morgan Stanley is qualified to judge ANY car dealer(s) is beyond me. I won't be buying an american made car next time for all the fiat currency in the world.

Wed, 07/06/2011 - 17:05 | 1430886 andybev01
andybev01's picture

"Document removed for copyright infringement"

For a press release, really?

On the plus side, click on the MS link, upper-left of the defunct link, for an inspiring post by Helen Keller.

Do NOT follow this link or you will be banned from the site!