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Shares Of Bailout Motors Plunge To Lowest Post IPO Price

Tyler Durden's picture




 

All the Koolaid drinkers who bought the government propaganda and Phil Lebeau's breathless praises of the world's worst automaker (and best channel stuffer) are certainly watching today's inexplicable plunge in GM shares with horror and pure terror. Now that GETCO is out of the picture, having failed to churn the crap out of the $33 IPO price, and keep it at support, ongoing realistic price discovery will soon send shares far, far lower, on both plunging Chinese car demand and dealer "channel stuffing."

 

 

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Mon, 03/07/2011 - 14:35 | 1026830 SilverFiend
SilverFiend's picture

Everything the government touches turns to ......

Mon, 03/07/2011 - 14:53 | 1026888 Zero Govt
Zero Govt's picture

....crap

Hey, that's my line!

Anyway looks like 'Bombs Away' ...another turd dropped into the stock market, this one another 'work of genius' from those masters of recovery in Washington DC

Anyway can someone PLEASE EXPLAIN how a company fresh out of bankruptcy filings gets floated in a matter of weeks onto the Stock Market????
Seriously how the FUCK does a stock exchange allow a just out of bankruptcy company straight onto their market? Are there not f'n stock market rules about this??

Can we float private sector companies days after emerging from bankruptcy or would the NYSE tell us where to go??????

...what next, a rehashed Fanny or Freddie right after $100bn losses floated in days onto the NYSE or Nasdaq,.... can't wait to invest in those sacks of shit!!

Mon, 03/07/2011 - 15:17 | 1027035 longjohnshorts
longjohnshorts's picture

Zero Govt, your outrage is lovely to behold. But, don't you get it? There are no rules anymore. Whatever you can get away with, that's what you do. And that holds double ... no, triple ... for the PTB.

Mon, 03/07/2011 - 15:35 | 1027063 Zero Govt
Zero Govt's picture

"Ye Who Maketh most Rules does Breaketh most Rules" is another one of my sayings along with "Everything Govt touches Turns to Crap".
So i fully understand that but fuk me how the hell does the US Govt and the NYSE have the temerity to launch a bankrupt car company back onto a major global stock exchange fresh from bankruptcy proceedings.... even for a total clown show like Govt I'm fuking incredulous the NYSE Directors can bend the rules and let them get away with this!!!
...if GM's share price halves in the next few months the whole NYSE Board of Directors should bloody well resign for allowing this sham show onto the Index

Mon, 03/07/2011 - 15:42 | 1027123 Thomas
Thomas's picture

Phil Lebeau: Now there is a world-class industry shill.

Mon, 03/07/2011 - 15:51 | 1027150 asdasmos
asdasmos's picture

Realty Mogul, Sam Zell, Talks Inflation - says we're not seeing inflation because the CPI is distorted. (Mar. 3 2011)

 

http://www.cnbc.com/id/15840232/?video=3000008436&play=1

Mon, 03/07/2011 - 16:04 | 1027190 IQ 145
IQ 145's picture

 I'm sure British Motors had very competent people lobbying for their subsidized enterprise; but Margaret Thatcher wasn't listening. The other side of this problem, is mr. Teleprompter, who believed every word Phil was saying. Morons don't do well as national leaders.

Mon, 03/07/2011 - 20:45 | 1028099 Buck Johnson
Buck Johnson's picture

You are correct, there aren't any rules anymore except one.  And that rule is the survival rule, where you do everything you can to keep yourself from drowning.  The Stock exchange was essentially ordered to do this because the govt. couldn't have this company going into bankruptcy (they went into a special bankruptcy not a real one) because it would not only kick 1.5 to 2 million people who are retirees or dependents to lose their pensions and medical but also to disrupt the whole supply chain that supports GM (because of the way these companies pay their suppliers, 30 to 120 days until payment of services).  The US will go into a period of Hyperstagflation which my possibly last for at least 10 to 17 years.

Mon, 03/07/2011 - 23:48 | 1028504 grant
grant's picture

"General Motors Corporation" (which has never been bankrupt) is completely seperate from "Motors Liquidation Company" (which still is in bankruptcy).

Yes it's superficially easy to confuse the 2, but if you can't discern the difference, then hopefully you are not making your own investment decisions.

Mon, 03/07/2011 - 15:06 | 1026995 covert
covert's picture

return to natural value?

http://covert2.wordpress.com

 

Mon, 03/07/2011 - 15:38 | 1027105 brian0918
brian0918's picture

... gold-plated tungsten?

Mon, 03/07/2011 - 15:52 | 1027160 tmosley
tmosley's picture

Soon to be considered too expensive, like zinc pennies.  Will move to spray-painted steel soon.

Mon, 03/07/2011 - 15:55 | 1027167 Mad Max
Mad Max's picture

Would make a heckuva good projectile.  Very dense, hard core, soft skin that won't scratch your barrel or corrode.  Sounds great to me.  Probably even kills 12 vampires each time you shoot 1 vampire.

Mon, 03/07/2011 - 16:14 | 1027228 Caveman93
Caveman93's picture

Ahhh yes the "anti-midas" touch!

Mon, 03/07/2011 - 21:15 | 1028180 Sheriff Douchen...
Sheriff Douchenik from AZ's picture

GM's lease 'pull ahead' Any one notice they are offering to move your lease up to get yo self into a new GM. ie - 2 years left on the lease, cmon in and they take care of it for you and put you into a new lease. If dat aint channel stuffing I don't know what is...

http://www.autonews.com/article/20110302/BLOG06/110309950/1503

also "deepest discounts in the industry in January and February" - GUESS WHO?

http://money.cnn.com/2011/03/07/autos/gm_discount_pricing_dealers.fortune/

HEY GM - DON'T BE DOUCHEY!

Mon, 03/07/2011 - 14:34 | 1026832 malusDiaz
malusDiaz's picture

First!

 

To sell! Ahahahhaha!

 

./end_sarc

Mon, 03/07/2011 - 14:37 | 1026839 99er
99er's picture

SPX

Diamond Top target of 1244.

Wolfe Wave target of 1200.

http://www.zerohedge.com/forum/99er-charts-0

 

Mon, 03/07/2011 - 15:05 | 1026988 Zero Govt
Zero Govt's picture

S&P target 1,200 is v yummy for us shorts ...but timing is everything!

Mon, 03/07/2011 - 15:20 | 1027039 Reptil
Reptil's picture

0__o

Mon, 03/07/2011 - 15:33 | 1027091 duo
duo's picture

do you have the chart showing the "butterfly" that's supposed to take the SPX down to 1060?

Mon, 03/07/2011 - 21:18 | 1028185 99er
99er's picture

SPX 1060 will prove to be a critical level; a quick glance at a weekly chart will make that obvious. No discernible Butterfly but I believe we will break 1060 in the weeks ahead.

Mon, 03/07/2011 - 14:36 | 1026842 101 years and c...
101 years and counting's picture

high oil destroys SUV and trucks sales.....the money makers.

Mon, 03/07/2011 - 15:00 | 1026966 Mad Max
Mad Max's picture

The idea that trucks and SUVs are the money makers is soooooo 1990's.  The money makers are government bailout money and stiffing your legitimate creditors though illegal distortions of the bankruptcy process.  Get with the program.  In fact, study it carefully because it's soon going to be used on a far larger scale than little ol' GM.

Mon, 03/07/2011 - 14:38 | 1026850 johnQpublic
johnQpublic's picture

baaaaahahhahhaaa

 

8 bucks here we come

Mon, 03/07/2011 - 14:42 | 1026868 ZeroPower
ZeroPower's picture

Not a chance.

However, ironic how the bondholders must be feeling, AGAIN. Gov saves the co, but pays only 40c on the $ last time. What a joke.

Mon, 03/07/2011 - 14:52 | 1026928 johnQpublic
johnQpublic's picture

patience grasshopper, it will get there

Mon, 03/07/2011 - 14:42 | 1026863 Don Birnam
Don Birnam's picture

How many shares were allotted Shop Steward Lebeau ? For all the fine propaganda Phil has peddled for the USGov and UAW, does a shop steward rate a complimentary Volt ?

Mon, 03/07/2011 - 14:40 | 1026864 virgilcaine
virgilcaine's picture

China recession would be quite bad for gm.. What's good for gm is good for China etc.

Mon, 03/07/2011 - 14:42 | 1026867 SwingForce
SwingForce's picture

At least GM employees didn't end up on The Unemployment.

Mon, 03/07/2011 - 15:17 | 1027033 rich_wicks
rich_wicks's picture

Nope, they are instead sitting on their butts, ocassionally putting on rivets and bolts at almost entirely random quality, and collecting $70 an hour to do it.

Mon, 03/07/2011 - 14:43 | 1026870 Alcoholic Nativ...
Alcoholic Native American's picture

don't you have to sign a contract to "buy" one of those, gee golly my credit is fucked. I say we start slacking some regulations.

Mon, 03/07/2011 - 14:44 | 1026874 TemporalFlashback
TemporalFlashback's picture

Finally. It has been 109 days in the making.

Mon, 03/07/2011 - 14:43 | 1026876 Downtoolong
Downtoolong's picture

Considering the government was originally willing to sell its shares at $25, I don’t know why they wouldn’t be willing to sell the rest of them at that price soon.

I still say it’s time for someone to call out Cramer. He was recommending a buy up to $40 the day after the IPO. I wonder if he’s still a premium buyer? What do you say Jimmy; how about taking a couple of blocks off our hands at say, $32.50.

Mon, 03/07/2011 - 15:01 | 1026971 disabledvet
disabledvet's picture

actually the original ipo was only slated to raise 5 billion and the price target was in the low 20's so "yet again Cramer was all over this thing" as the IPO raised 5 times the amount and the price target went through the roof.  "inexact science" as they say.  needless to say if you were short at the time you got killed.  period.  i find the short's response to this generalized sell off surprisingly muted by the way.  to be sure GM is to be expected to sell of with the market as it is no paragon of virtue shall we say.  at some point i'd get rid of the name myself.  word's like "corvette" and "suburban" and "cadillac" still sound good no matter the price of oil.

Mon, 03/07/2011 - 14:43 | 1026877 Mad Max
Mad Max's picture

The real question is, can I buy stock in Govt Motors with 72 months same-as-cash financing?

Mon, 03/07/2011 - 14:46 | 1026889 trav7777
trav7777's picture

C'mon now, GM is not the worst carmaker.  They simply aren't a very good one and produced shitty cars for decades.  For the financial bubble, GM was a finance company that happened to also make cars as a side business, just as GE was a finance company that happened to make fridges and turbines as a side business.

I saw the Volt display at the latest area big carshow and it's an ugly car with very mediocre performance.  Mitsubishi's i-MIEV kills the shit out of it as far as range, but the latter looks like a tiny econobox, which is what's NECESSARY to have an electric vehicle.

Expecting to power a real midsize sedan from batteries alone was absurd with present technology.  A commuter vehicle that size makes no sense either.

Really, though, GM needed to do little more than steal the interior from a Honda all these years to produce a saleable vehicle.  There are a ton of potential buyers for their cars who get in one and go "yuck."  Don't tell me it's American workers, either, because Camrys, Accords, and even some BMWs are made here.

Mon, 03/07/2011 - 14:51 | 1026919 docj
docj's picture

Don't tell me it's American workers, either, because Camrys, Accords, and even some BMWs are made here.

Spot-on, trav.  Lots of American (and Canadian) workers make lots of very high quality cars.  They just don't make them for the likes of GM and Chrysler - but they sure as hell got to pay to bail-out their competitors, right?

Mon, 03/07/2011 - 15:20 | 1027042 rich_wicks
rich_wicks's picture

Yes, but these other American workers - are they part of the UAW?  About the only way you can lose a job if you work for the UAW is if you drop dead on the job, and that doesn't even guarantee that your dead body won't still be collecting a paycheck.

Mon, 03/07/2011 - 21:04 | 1028151 Sheriff Douchen...
Sheriff Douchenik from AZ's picture

Even if you drop dead on the job doesn't the spouse then get the benefit pkg? If so, even thru death you don't really lose your job...

Mon, 03/07/2011 - 21:10 | 1028155 Xkwisetly Paneful
Xkwisetly Paneful's picture

So the older more experienced UAW workforce at GM produces a more expensive inferior product?

Doesn't make a ton of sense does it?

In normal world older more experienced usually translates into superior output.

 

 

Mon, 03/07/2011 - 15:01 | 1026972 Don Birnam
Don Birnam's picture

True enough, and there are several examples of high-quality, American-manufactured vehicles. The Subaru Tribeca is quite literally as solid a vehicle as an M1 Abrams. Place of manufacture: Indiana.

Mon, 03/07/2011 - 15:09 | 1027009 MachoMan
MachoMan's picture

The japs don't feel comfortable allowing us to manufacture all the parts just yet :)  We get to assemble a lot of them, but the motherland is better suited for the important tasks...

Mon, 03/07/2011 - 18:03 | 1027592 Lulzum Vincit Omnia
Lulzum Vincit Omnia's picture

+36.50

Mon, 03/07/2011 - 15:11 | 1027012 voltaic
voltaic's picture

There are ways to make entertaining electric: http://www.youtube.com/watch?v=4Cf89tawZX8. It's too bad the engineers at GM aren't as clever. 

Mon, 03/07/2011 - 14:46 | 1026892 docj
docj's picture

Still about $31/share overvalued, methinks.

Mon, 03/07/2011 - 15:25 | 1027058 cxl9
cxl9's picture

What? You don't think their "goodwill" is really worth $30.2 billion?

 

Mon, 03/07/2011 - 14:46 | 1026898 squexx
squexx's picture

AALLRRIIGGHHTT! I'm buying on the fucking dip!!!!

Mon, 03/07/2011 - 14:49 | 1026905 Jim B
Jim B's picture

Hope the UAW dumped their shares... Nevermind, they got them for "free" anyway!

Mon, 03/07/2011 - 16:45 | 1026944 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

""Hope the UAW dumped their shares... Nevermind, they got them for "free" anyway!""

...The Single Best Way to Win a Revolution.

.....Starve the Government.....

""when the citizens refuse to go to work!
The Beast of Government exists on tax revenues""

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/03/single-best-way-to-win-revolution.html

Mon, 03/07/2011 - 17:48 | 1027534 Rusty Shorts
Rusty Shorts's picture

uh, you can't starve a printing press , and furthermore they don't need your tax money ... the taxes are in place to keep YOU and ME from accumulating any wealth. period.

Mon, 03/07/2011 - 14:49 | 1026910 lynnybee
lynnybee's picture

well, with me & my adult children & their friends & my extended family & all the members of my church group & their children & their friends NOT EVER BUYING ANOTHER GM AUTO IN THEIR LIFETIMES EVER AGAIN , they already got $57billion out of us ............. NO WONDER SALES ARE PLUNGING !    Never ever again ........ EVER !   I'd rather walk til my shoes are worn out & legs falling off before I hand any money to GM .         'nuff said

Mon, 03/07/2011 - 15:02 | 1026973 Lionhead
Lionhead's picture

lynnybee, good for you & your family; you all have CONVICTION.

Mon, 03/07/2011 - 15:23 | 1027050 IQ 145
IQ 145's picture

 Exactly. couldn't agree more. "Government Motors"--no thanks. I'd rather peddle a bicycle; I'm just not a socialist; if it wasn't made by free market capitalism, I don't want to support it; it might multiply; better to kill it at birth.

Mon, 03/07/2011 - 15:36 | 1027099 duo
duo's picture

If you buy a GM car, isn't your money recycled through the UAW back to Obama so they can ream us again?

Mon, 03/07/2011 - 18:23 | 1027662 RexZeedog
RexZeedog's picture

I agree 100%. The orginal GM had a large number of bondholders who basically got bupkis when Obama's crew foreced this pro-union re-org through. While I might consider a Ford, I am basically a Toyota and Kia man. I will not buy Chrysler, nor will I buy "GM".

Mon, 03/07/2011 - 23:15 | 1028437 Cruel Aid
Cruel Aid's picture

I was thinking Ford, but got a Kia recently. I have never had such a deal all around. Very solid car, handles fantastic, quiet, kickass stereo, aparently safe, according to tests.

I love Korean stuff. Samsung. I hear they are more like us than US.

Mon, 03/07/2011 - 14:54 | 1026918 Lord Peter Pipsqueak
Lord Peter Pipsqueak's picture

From that quaint relic of a country y'all call Ingland, you may have heard of a car company called British Leyland,it made yer GM look like Mercedes,Thatcher finally called time on the money pit that was BL, it was a cobbled nightmare of outdated inefficient manufacturers of shoddy, unreliable cars with many of the divisions(Jaguar,Austin,Rover,Morris-MG,Leyland-trucks and Triumph) competing against each other in their respective market segments,only held together by the misguided patriotic purchases of the British and government subsidies.

The Thatcher government finally decided it would be cheaper to pay the ex workers dole money rather than pay them to make cars that nobody wanted to buy.

http://en.wikipedia.org/wiki/British_Leyland

Mon, 03/07/2011 - 14:55 | 1026946 glenlloyd
glenlloyd's picture

I know, it was bad, they were all bad, but some of us still cry about it. There was something indearing about Rover and MG.

You know, they use to call Lucas Electrics 'prince of darkness' for a reason!

Mon, 03/07/2011 - 18:21 | 1027658 Pool Shark
Pool Shark's picture

 

Rumor has it that Englishmen drink warm beer because they have Lucas refrigerators...

Mon, 03/07/2011 - 14:52 | 1026925 Quixotic_Not
Quixotic_Not's picture

As G.M. goes, so goes the country...Part Deux; Rise of the Undead!

Mon, 03/07/2011 - 15:43 | 1027119 Zero Govt
Zero Govt's picture

"Rise of the Undead"
...you mean rise of the unleaded?
...or rise of the battery acid zombie motor, Volt?
...killed once, arisen from the grave like a zombie and propped up on fresh taxpayer blood. A zombie motor from a zombie motor car company floated by zombie banks from a zombie Govt.
Welcome to the 'free market' of America.... last one to leave switch the f'n lights out!!

Mon, 03/07/2011 - 16:24 | 1027258 Quixotic_Not
Quixotic_Not's picture

Welcome to the 'free market' of America....

Uh..."Free Market America" died in 2007, thus the "Rise of the Undead".

Got Ag?

Mon, 03/07/2011 - 14:52 | 1026926 John McCloy
John McCloy's picture

God willing this should be the final nail in the political coffin for all those who still do not comprehend the failure of this administration, congress and the Fed of why free money for failed businesses paid for by the taxpayer is nothing short of vote buying and an endless blackhole.
Them and the banks need to go bye bye.

Mon, 03/07/2011 - 14:52 | 1026929 glenlloyd
glenlloyd's picture

Propping up bad biz never lasts long, eventually the market overwhelms and takes it where it ought to be, like now.

The big question here is 1) how much did the taxpayer lose on this frivolous venture and 2) can we keep govt. from going down this road again with GM.

If GM fails during Obummers term it'll be a serious no go for his vie at a second term and he knows it, GM was one of his pet projects.

Alternatively, I don't think they could go in again to try and fix it, politically it would have no support.

Mon, 03/07/2011 - 16:22 | 1027245 Things that go bump
Things that go bump's picture

Which is why they will do it on the sly.  

Mon, 03/07/2011 - 14:54 | 1026933 DonnieD
DonnieD's picture

we need a Bailout ETF so we can short GM, AIG, C, BAC, etc. all at once. Ticker can be CRAP

Mon, 03/07/2011 - 15:42 | 1027121 IQ 145
IQ 145's picture

 double plus. thanks for the laugh.

Mon, 03/07/2011 - 15:02 | 1026937 hedgeless_horseman
hedgeless_horseman's picture

Objectively speaking,

everyone long GM is a loser,

everyone short GM is a winner,

just like Charlie Sheen.

Mon, 03/07/2011 - 14:55 | 1026945 Mongo
Mongo's picture

I like the tag "Crap"

Mon, 03/07/2011 - 15:04 | 1026985 StopScrewingThe...
StopScrewingTheTaxPayers's picture

I was wondering if anybody else noticed that.   GM = CRAP works well for Search Engine Optimization.

Mon, 03/07/2011 - 14:56 | 1026950 Silverhog
Silverhog's picture

Gee.. maybe with high oil they'll find more suckers, oh I meant environmentally thoughtful folks for the Volt.

Mon, 03/07/2011 - 14:59 | 1026962 Sancho Ponzi
Sancho Ponzi's picture

Look for Ray TheHood to facilitate 1,000,000 vehicle recalls on Fords, Nissans, Toyotas, Subarus, Hyundais and Mitsubishis.

Mon, 03/07/2011 - 15:43 | 1027131 the not so migh...
the not so mighty maximiza's picture

Mitsubishi will go down fighting.

Mon, 03/07/2011 - 14:58 | 1026965 lieutenantjohnchard
lieutenantjohnchard's picture

remember the commentator formerly known as catfish mouth robo uber bull bear wannabe mocking the economic doubters among us with his assertion that the consumer was back by pronouncing gm auto pipeline stuffing sales as proof of a strong economy.

eyes rolling .... me too.

Mon, 03/07/2011 - 15:02 | 1026970 Ayn Rand
Ayn Rand's picture

I think Ben should step up and buy all shares at about $100 bucks a share so that the unions don't lose money on their "investment"

Mon, 03/07/2011 - 15:04 | 1026984 Sudden Debt
Sudden Debt's picture

Once they build a Camero that runs on solar power, I'm buying on!!

 

TRANSFORM THIS BITCHEZ!!

Mon, 03/07/2011 - 15:44 | 1027132 IQ 145
IQ 145's picture

 Camaro, with an a. Actually the one you want has a wonderful V8 engine; the gas bill is a little spendy; but the girls love it and you only live once.

Mon, 03/07/2011 - 16:00 | 1027179 Sudden Debt
Sudden Debt's picture

I know I know....

Last Sunday a friend of mine came to show off his new car. A black Camaro with super rims and all leather interior.

I WAS JEALOUS BEYOND BELIEF!!

In my head I was already calculating the downpayments untill the misses joined us....

"my god what a pimpcar".

I love my wife... BUT ALL I COULD THINK OF WAS: STFU! I WANT ONE TO!!

I drive a Land Rover sport which is also a bit cool but it just ain't a real sportscar...

When I was a student I had Cuda from 1970.

The car was pretty old, BUT DAMN IT WAS COOL TO DRIVE!

I had it untill 2002  but my wife found it to be a crapy car because it made the sound of a jet engine and it was a bit loud. Also maintenance was a bitch.

But when I sold it... I actually felt depressed for 2 years...

 

Mon, 03/07/2011 - 16:44 | 1027304 trav7777
trav7777's picture

isn't it funny and a bit ironic how much cooler American cars are than europeans?

You will get more chicks in jeans and a tshirt in a 50s Corvette than wearing Prada in a 458.

One of my friends from Belgrade...the dream is a Mustang GT.  LOL.  Our muscle cars require Top Gear to undergo post test deprogramming to convince themselves of how much they really hate them for the lousy handling after having a smile wrapped around their head.  Old Ferraris and MBs and Lambos just look...old.  See a mint 60s-70 muscle drivin around?  It's like fuck yeah Trans Am even though it was not highly regarded when new.  Go figure.  My big laugh was I used to watch a German "cop/crime/drama" show and one of the kraut detectives had a Viper.

Mon, 03/07/2011 - 18:25 | 1027669 HTZMR
HTZMR's picture

Tatort by any chance? Alarm fuer Cobra 11?

Mon, 03/07/2011 - 23:11 | 1028429 Dolar in a vortex
Dolar in a vortex's picture

"You will get more chicks in jeans and a tshirt in a 50s Corvette than wearing Prada in a 458."

You're cruising the wrong neighborhoods.

Mon, 03/07/2011 - 16:55 | 1027339 OpenEyes
OpenEyes's picture

One of my cars is a 1982 El Camino that is WAY cooler now than it ever was when new!  

Mon, 03/07/2011 - 18:42 | 1027726 lynnybee
lynnybee's picture

Sudden Debt ~~ But when I sold it... I actually felt depressed for 2 years...

In everyone's life there is that one special car, a car so wonderful that after it is gone your life just seems to go downhill .   May I tell you about my most wonderful car ?    

I had a 1995 MITSUBISHI 3000gt VR4 / pearl white with a black nose mask.   I had it on a lease for 3 1/2 years & when the lease expired I sat crying in the drivers seat for 30 minutes before the dealership guys had to pry my hands off the stearing wheel & drag me out.

My life went straight downhill & no car ever measured up ..........  I loved my MITSU 3000gt VR4 .     

Mon, 03/07/2011 - 15:08 | 1027000 redpill
redpill's picture

But, but, the Chevy Volt!

Mon, 03/07/2011 - 15:08 | 1027001 TideFighter
TideFighter's picture

...and Chrysler is different? The Kokomo transmission plant keeps the tranny lines humming,even when they have run out of room for trannies. Trannies everywhere stacked to ceiling. Why? Fiat still getting gubermint's money for payroll, period. Chrysler needs to close NOW. 

Mon, 03/07/2011 - 15:46 | 1027137 IQ 145
IQ 145's picture

 Trannies stacked to the ceiling? Hmm. do they do tours?

Mon, 03/07/2011 - 17:50 | 1027546 redpill
redpill's picture

So Fiat is getting our fiat?  Appropriate, no?

Mon, 03/07/2011 - 15:08 | 1027005 buzzsaw99
buzzsaw99's picture

Ally Bank Bitchez!

Mon, 03/07/2011 - 15:11 | 1027010 Horatio Beanblower
Horatio Beanblower's picture

DICK Morris was on the Peter Schiff Show earlier today.  Morris slammed Ron Paul, advocated drug testing students, and eventually hung-up when Schiff challenged his comments - http://www.youtube.com/watch?v=ebzaQTAyXaI&feature=feedu

 

DICK Morris is a fascist piece of shit. 

Mon, 03/07/2011 - 16:11 | 1027216 prophet_banker
prophet_banker's picture

good link, both of the A-Holes are tools and losers, great link, I'm on the dick's newsmax email list he they rarely put out the goodstuff, truth

Mon, 03/07/2011 - 15:12 | 1027018 buzzsaw99
buzzsaw99's picture

People Are Smart! [/ditech]

Mon, 03/07/2011 - 22:46 | 1028374 dexter_morgan
dexter_morgan's picture

lol

Mon, 03/07/2011 - 15:13 | 1027020 buzzsaw99
buzzsaw99's picture

Colloidal silver bitchez!

Mon, 03/07/2011 - 15:15 | 1027026 Bastiat
Bastiat's picture

Dick Morris is a social disease.

Mon, 03/07/2011 - 15:44 | 1027133 ColonelCooper
ColonelCooper's picture

Your comment is correct on so many levels.

Mon, 03/07/2011 - 15:15 | 1027027 buzzsaw99
buzzsaw99's picture

Gubbermint Squid below 160

Gubbermint Motors under 32

Mon, 03/07/2011 - 15:19 | 1027037 Bastiat
Bastiat's picture

Isn't there a "czar" in charge of this?  How could anything go wrong?

Mon, 03/07/2011 - 15:24 | 1027053 luk427
luk427's picture

They laughed at Peter Schiff again for calling GM a 'Dog and Pony Show"   http://www.youtube.com/watch?v=sDf9fI0l2iw   

Mon, 03/07/2011 - 15:47 | 1027140 IQ 145
IQ 145's picture

 Boy, one thing the TV speaking heads should have straight by now, it's really, really, expensive to laugh at Peter Schiff. That dude is a whole lotta right a whole lotta the time.

Mon, 03/07/2011 - 15:54 | 1027162 Bastiat
Bastiat's picture

There's no cost to talking heads for being wrong.  Their audience apparently can't remember 2 days later what they said -- only that it makes them feel better.

Mon, 03/07/2011 - 15:28 | 1027071 SparkyvonBellagio
SparkyvonBellagio's picture

VESPA shares exploding. LOL

 

 

Mon, 03/07/2011 - 15:30 | 1027080 Seasmoke
Seasmoke's picture

still $22 too high

Mon, 03/07/2011 - 15:33 | 1027088 chunkylover42
chunkylover42's picture

I fully expect GM to soon be added to the S&P 500 to provide a little "oomph" to the share and some nice support when all the index funds (and closet index managers) have to buy the stock.  The Obama administration expects to hold GM as a symbol of success and will do whatever it takes to get it there (or at least keep it from blowing up until after 2012).

Mon, 03/07/2011 - 15:50 | 1027145 Zero Govt
Zero Govt's picture

Kirk to Chunky, come in Chunky?
What planet are you on mate! The only way GM are going to have a 'floor' is by flogging sub-prime 0% car loans to credit-worthless punters and there's only so long that circle-of-shit can continue!
The other route is the US govt keeps pumping GM with subsidies by offering huge tax breaks masked in 'green' to flog the tragic 2nd coming of the Volt

Mon, 03/07/2011 - 16:47 | 1027315 trav7777
trav7777's picture

and their fleet sales ain't hot either.

GM really should just think about making a higher quality basic transportation car.  I mean, fkin learn something from Kia or Hyundai for fuck's sake.

Mon, 03/07/2011 - 17:03 | 1027364 Clycntct
Clycntct's picture

"The only way GM are going to have a 'floor' is by flogging sub-prime 0% car loans to credit-worthless punters and there's only so long that circle-of-shit can continue!"

And on the good side. They get back low mileage repos cause the punters not only can't make the payment but cant afford the gas.

And the just introduced plan to take the puntbacks in a massive plan to Green the planet with 0% down and credit for the remaining balance applied to Voltilisious.

It has a snappy marketing hook called JuiceMe.

Mon, 03/07/2011 - 17:43 | 1027512 chunkylover42
chunkylover42's picture

I think you missed my point.  What I'm saying has nothing to do with business fundamentals, I am just suggesting that S&P may add GM to the S&P 500 Index (e.g., at the government's urging) which will force all the index funds to go out and buy the shares.  This instantly provides a ~5% pop to the stock and ensures that any manager that benches to the S&P has to make decision about GM.  Some will have no position, but at $49bn market cap, it's too big for many managers to ignore completely, so they'll just be underweight the index.  Some will be overweight.  Either way, what was once a 0% position for a lot of people is now a 1-3% position on average.  With $20 trillion in fund assets, that's a lot of money coming into the stock.

End result is lots of new buyers of the shares, which will support the price, regardless of 0% loans, channel stuffing, sales, or anything else remotely business related.

Mon, 03/07/2011 - 15:45 | 1027135 SheepDog-One
SheepDog-One's picture

And it only cost us a couple trillion 'dollars', bond holders were wiped out, fascism was established as normal in  america. Fuck you, Gubment Motors and your ass hat CEO Obama!

Mon, 03/07/2011 - 15:48 | 1027143 IQ 145
IQ 145's picture

 Just watch, they're gonna re-elect that mental midget.

Mon, 03/07/2011 - 15:50 | 1027154 Zero Govt
Zero Govt's picture

so many, which one??

Mon, 03/07/2011 - 16:49 | 1027322 AmCockerSpaniel
AmCockerSpaniel's picture

Wake up! It's not him who's the mental midget, it's you guy's who voted for him! Now just sit down and drink your kool aid.

Mon, 03/07/2011 - 22:37 | 1028348 dexter_morgan
dexter_morgan's picture

prolly 75% of the posters here, at least :-(

Tue, 03/08/2011 - 02:53 | 1028913 Kobe Beef
Kobe Beef's picture

I cant wait for the inevitable Obama vs. Palin showdown in 2012.

Mon, 03/07/2011 - 15:51 | 1027159 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

But but...  The government said the taxpayers would make great money and the doomers would wet their pants in rage as the economy recovered?

 

I'm quite certain the treasury will issue a press release offering us an honest assessment of the situation soon...

Mon, 03/07/2011 - 16:14 | 1027223 PulauHantu29
PulauHantu29's picture

Can't we sell it to the Chinese?

Or will the Middle Class Taxpayers have to pay even more for all those SUVs sitting idle in the Dealers' lots?

Mon, 03/07/2011 - 16:47 | 1027319 trav7777
trav7777's picture

laughably, a lot of people used the 09 oil crash and concomitant drop of gasoline to the $2 range as a buy signal for that SUV they wanted.  They are about F U K D now

Mon, 03/07/2011 - 16:15 | 1027227 prophet_banker
prophet_banker's picture

least they can't screw the pension holders when they go bankrupt, they've already got that accomplished

Mon, 03/07/2011 - 16:58 | 1027349 Cleve Meater
Cleve Meater's picture

Very funny...

Chevy Volt Slogans Posted by Frank J. on March 7, 2011 at 11:04 am

So what happens when you combine GM and the federal government? You get the Chevy Volt! It’s $41,000, making it way more expensive than the competition while not even getting better gas mileage. And it’s still being sold at a loss. But hey, you get a tax rebate if you buy one for some crazy reason. Still, Government Motors only sold 281 last month, so I thought I’d help out by trying to come up with a great slogan for it.

PROPOSED SLOGANS FOR THE CHEVY VOLT

“If you have friends push it around while making vroom vroom noises, it’s a lot like driving a car.”

“So frustrating to use it will make you do the greenest thing at all: Kill yourself.”

“Hopefully in being green it’s the thought that counts.”

“Get America out of unnecessary wars and into unnecessary cars!”

“The electric car that will make you want to defile Benjamin Franklin’s grave.”

“A great backup in case your kid’s Power Wheel gets a flat.”

“We don’t need to sell you on, because you’re already paying for it as a taxpayer.”

“Why pollute around you with exhaust when you can pollute far away with coal?”

“Are we winning the future yet?”

“Built by the government, so making fun of it is treason and punishable by death.”

“Sold at a loss… to everyone.”

“If you don’t buy one, don’t be surprised if you get audited.”

Mon, 03/07/2011 - 18:12 | 1027625 HTZMR
HTZMR's picture

Inspired! I will have to pass these on to my colleagues in detroit, who will really get a kick out of it!

Mon, 03/07/2011 - 17:00 | 1027355 Atomizer
Mon, 03/07/2011 - 18:47 | 1027744 trav7777
trav7777's picture

original C4C was a total debacle...friends i have who don't earn much are having real trouble finding decent used vehicles out there at reasonable prices.

Mon, 03/07/2011 - 23:53 | 1028521 Richard Whitney
Richard Whitney's picture

That was hilarious!

Mon, 03/07/2011 - 20:27 | 1027987 lsjcma
lsjcma's picture

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Mon, 03/07/2011 - 23:03 | 1028415 jkruffin
jkruffin's picture

Short the pig GM and you will end up rich, play the time-table. This company will not be bailed out again, and it will cease to exist as they plunge once again.

Why buy a GM vehicle, that they sell for $20,000 and it worth $6,000 one year later? This is exactly how this company operates, and why no one wants their products. I learned the hard way myself. Paid $24,000 for a loaded Trailblazer with all the works, and 1 3/4 yrs later they wouldn't give me $10,000 for it with only 11,000 miles on it.

Fool me once, shame on ....uhhh, fool me twice....uuuhhhhh  How did George Bush put it?  LOL

Tue, 03/08/2011 - 00:09 | 1028582 Richard Whitney
Richard Whitney's picture

When Toyota and Ford won the C4C sales contest, BHO sent the government to trump some charges against Toyota, a foreign car manufacturer wqho builds fine cars here with non-union labor. Do you think the new UAW-GM owners might have nudged that along? Nevermind that Toyota is essentially acquitted months later. Sancho Ponzi said it earlier: when it is more obvious that GM is sinking, after increasingly diminished returns from lease-pull and channel-stuffing, then they will go after the other manufacturers.

But there might be a silver lining to the criminal act the government perpetrated by violating fiduciary rights and giving GM to its unions. The silver lining: now it is the union's mess.

 

Tue, 03/08/2011 - 01:26 | 1028757 TruthInSunshine
TruthInSunshine's picture

I hate to admit it, because I love my nation, warts and all, but the only cars I've ever owned (and I purchase all my cars for cash) that have never required anything but routine maintenance were Japanese, and produced and assembled in Japan.

I've owned several GM and Ford vehicles, and they gave me the most ridiculous number of problems that it was beyond ludicrous; I am talking you wouldn't believe it unless you witnessed it ludicrous.

The one Chrysler product I owned was Jeep and was as reliable as any of the Japanese cars I have owned, maybe the exception that proves the rule.

I owned one Mercedes Benz (a 2004 E Class) that was a nightmare - bad transmission, electrical and electronic glitches and gremlins, engine issues of numerous varieties, faulty ABS and airbags systems...ugh.

Friends that have owned Volkswagen and Hyundai vehicles have had nothing but grief, despite the ballyhoo about the alleged improvements at Hyundai. One friend had a Volkswagen Golf that was so entirely bad, words fail to describe the epic awfulness.

There has been a trend of some Japanese makes made in the U.S., such as Toyota, getting progressively cheaper in build quality and less reliable, as of late, however.

Ford is the most overrated automaker, in terms of quality, reliability, price (people are willing to pay for their crap), and general goodness (or lack thereof) on the planet right now.

Four of the finest vehicles in terms of total quality and reliability in history were the 1993 Toyota Camry V6 (a Lexus in disguise; Ford engineers in Dearborn, MI had bought many of them to take apart and attempt to 'reverse engineer,' and when they took the first one apart, they were in complete awe and even disbelief at the quality and detail in the parts), the 2003 Lexus LS430, Mercedes-Benz W126 300SD turbo diesel (which can run for 500,000 miles and was the last gen of 'true Mercedes-Benz' engineering prowess) and the humble 1989 Toyota Tercel (which could also run forever in manual transmission format). The Jeep Wrangler with the straight 6 deserves an honorable mention.

GM's share price should and would be closer to that of a gallon of gasoline but for U.S. government propping up.

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