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GM Stock Slides To Fresh Post-Bankruptcy Lows
Of all curious correlations we could find to demonstrate the collapse in GM stock, which opened for trade back in November 2010 at $35, and just hit an all time post-IPO low at just over half its IPO price, the best one that exemplifies the second great collapse of GM is the amount of dealer inventory, aka channel stuffing, shown on an inverted axis: the lower the price of GM, the more the channel stuffing. Of course, nobody could have possibly predicted that. Just like nobody could have predicted that Greece will need a third bailout, let along hit the IMF goal of 120 debt/GDP in 2020.
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How much is Berkshire Hathaway underwater on their GM position? Uncle Warren violated some of his own best investing principles when he drank the "Buy America" Koolaid and bought into GM.
Did you know that "General Motors" in russian is..."General Motors"?
I dunno, I thought that was pretty funny.
GENERAL MOTORS, AUTO MANUFACTURING FOR GREATER GLORY OF UNITED SOVIET STATES OF AMERICA!
Good investment US Govt.
Whats the opposite of the Midas touch?
wow a final minutes ramp in ES... go figure
RobotTrader
central planning
community organizing
I'm going to wait to the channels really get stuffed to the gills and then buy a vehicle that's suitable for hauling barbarous relics, but only if it is 80% off government mandated MSRP and carries a lifetime powertrain warranty backed by Geithner.
On second thought, I've discovered one of the keys to being as free as possible under the circumstances; don't buy shit you don't need, no matter how enticing the department of marketing & treasury appears to make "a deal."
So, I'll continue to use the tools I've already accumulated in a productive fashion, rather than add/accrue unecessary and capital draining (no matter how heavily subsidized/discounted) consumables.
the opposite of the midas touch...how 'bout the bloomberg headline all day that "investors" dump gold to buy corn and soy...is that close....
and how the fuck can they make that correlation....
and can somebody answer who is floorplanning all the dealer inventory?
...It's called "Cash for GM Junkers".
Groping by Keynes.
The Crapper touch, in honor of Mr. Crapper, inventor of the water closet.
The Crapper touch, in honor of Mr. Crapper, inventor of the modern water closet.
~ Braack Hussein Obama
or was that Lenin...
It's all the same.
Shit when hasn't he violated them over the course of the last four years?
Yes he did. But he's old now and operating under different principles than when he was younger.
Serves him right. It couldn't happen to a nicer guy.
But I thought Obama "saved" GM?? Oops, maybe a little too early to break out the champaigne?
Mission accomplished
$19 looked good on the chart till it didnt
Trust me soon GM will have to either file for another "bankruptcy" and/or get another govt. bailout. There stock is getting to low.
They'll just do a 5 or 10-1 reverse split. Problem solved.
My company just rolled over its entire fleet of company vehicles to switch to Malibu's. We turned in virtually new cars just drawn from fleet. In several decades in my industry dealing with fleet vehicles I have never seen this. It has to be incredibly expensive which means to me that Government Motors is offloading its inventory at at super low price. They are in essence dumping, probably at a loss. I suspect they are still in trouble.
BTW, the Malibu's do not get anywhere near their rated mileage in my experience. I usually beat the rated mpg in most vehicles.
Uncle Samil El-Hussein Obam backstops every Buffet investment. Warren does not lose on anything.
Is this a rare case of the "market" actually working? Or is GM being a turd obvious to even the HFT machines?
Or maybe it is that whatever Obama touches, turns to shit. Not that I would want to insult our First Lady, but maybe someone ought to consider wrapping her up in one big depends diaper.
What makes you think... oh, never mind.
Eggsactly!
They don't call her "Moose Hell" for nothin'!
is it me or did ben turn the algos on? hes 10 minutes late
I was thinking, isn't it funny that autoplants didn't shutdown for the summer and we have a presidential election this year?
They're busy building more Volts for the Greater Good of The Free People's Democratic Republic of Humerikah
One more Volt
One more Volt
One more Volt
(wondering if Volts come with a get out of Gulag free card?)
It's a giant circlejerk: we bail out GE, GE agrees to buy GM cars, all is well!
Volt early... Volt often... Oh wait!
Re-Volt!
Sadly enough, I'm sure its workers have been sold on some kind of "we can do it!" initiative and handed over salary, benefits, etc in exchange for stock holdings. In fact many probably had no choice. Oh wait
And....
Most of the fucking stock was stuffed in the UAW penion palns
LOL
So when they go belly, the PBGC takes 'em over and we, the taxpayer get fucked, again.
Revolting
I sh*t you not....this is real.
Go to my local post office (small with only a post master....that is a waste upon itself). I'm in my late 30s and have used this post office most of my life. What do I see setting next to the building......a shiny new GM car with .gov plates. I asked the postmaster if that was a new 'carrier car'. PM said nope, it was 'their' car for taking care of official USPS business. What! This PM drives their personal car to work, drives the .usps car to lunch and back, then their personal car home. That is it.
This PM has never had their own private car. This was simply a way for the failing USPS to support the failing GM.
If people would only open their eyes and see what really is happening, especially to their kids and grandkids, they would revolt.
Hope & Chains - muslim style with El-Barry.
You know they're fucked when you can now lease a Chevy Volt.
http://www.chevrolet.com/tools/currentoffers/results.do?zipCode=91001
What a great link! No fault of yours but the website insists on a valid zip code. If you don't know one, you don't get in. I'm in the UK and I certainly can't be bothered to find a "valid zip code", fuck Chevrolet!
Try Beverley Hills 90210
There is a clue in the link.
results.do?zipCode=91001
If reelected, or otherwise retained in office, Barack Obama will issue an executive order imposing a tax on anyone not owning a Volt. Waivers will be granted to union members and select others.
Those new Volt ads where people brag about saving money on gas after paying thousands extra for the car are downright revolting. Especially the broad who says she's saving her money for a trip to Hawaii. Spend spend spend!!!
PPT to the rescue @ 1524
Gold goes up, euro goes up, and dollar goes down, all at the exact same time.
Really?? Potter?
They don't have any money to buy their stock up.
Even muppets know better than to buy it.
So turning the company over to communist supporting union crooks didn't work?
As of this writing it appears that there are at least 2 "communist supporting union crooks" who've read your post." I say +1
I'm looking forward to GM's 3rd IPO.
Kind of like Greece's 3rd restructuring. Or is it the 4th? Fuck I'm confused.
Come on Doc, you didn't pick up your program this morning? Who's on first, What's on second, I don't know's...
If it wasnt for the reverse split -Gov Motors would be zzeroooo.
Break-even point is $52. Bullish.
oh man the HAL9000s went into overdrive. unlike GM cars
But, but....Clint Eastwood said its halftime in 'Merka!
When you are running a country off a cliff, it is customary to pause halfway for a 15 minute break and call it "halftime".
...and as the players tried to take the field
The marching band refused to yield
do you recall what was revealed?
The day... The music died...
And we were singin... Bye, bye miss american pie...
Good custom. I suggest everyone use this interlude to stock up on... Ah hell you all know. If you don't, best of luck.
yup. just a reminder ... THE SHORT BAN IS STILL IN EFFECT kiddos. 50 points in the down in 4 minutes. yea right...
AAPL earnings frontrunning.
Im Just wondering , has the market ever gone down in the last hour?
Ooops someone forgot to turn the computer on. Ben's gonna have their balls.
I think a quick resolution to this would be to have a mid-summer Super Bowl so they could advertise to more people how if they "BUY NOW" they will get a fantastic deal but they must HURRY!
Another option is to have Cash for Clunkers 2 where your car must be no more than 5 years old and not have GPS tracking and XM or Sirius (because why wouldn't you want to pay for radio?) as well as voice activated interface to tell the driver "There is a cliff coming you should slow down."
A third option would be to equip all new models with a gun rack and an American made gun (because those are still worth something and work):
Gun Sales Increase in Colorado After 12 Killed in Movie Theaterhttp://www.bloomberg.com/news/2012-07-24/gun-sales-increase-in-colorado-...
Open Carry Bitches!
Hell ~ if someone's going to shoot up movie theatres, I think a wiser investment would be a flak jacket...
Go long flak jackts!!
Its 3:30 pm do you know where your PPT is?
what is the link between GM and Greece ?!
Both support communists?
Speaking of GM, it is said that GM is trying to run a scam with their 60 day return policy. The small print in the agreement makes it extremely hard to qualify. They'll take anything as damage to the car which will void the return. But if you can return your car, I am also hearing that because the IRS has not specified how long you must own a Volt to get the tax credit, some are attempting to buy a Volt, get the $7500 tax credit, then return it within 60 days and keeping the tax credit of $7500.
I am also hearing that because the IRS has not specified how long you must own a Volt to get the tax credit, some are attempting to buy a Volt, get the $7500 tax credit, then return it within 60 days and keeping the tax credit of $7500.
Now that is AWESOME !
Are there limitations on how many Volts one could buy?
and return!
dealers just sell them to other dealers (& vice versa)...
I wonder if a HFT algo can obtain a line of credit, open a dealership buy a Volt, then sell it back and forth to another HFT algo with a dealership? Think of the revenue from transactions fees! Ben Bernanke, eat your heart out!
I'll set up Volt-TERS (Volt-Title Electronic Registration Systems) and we can sell the same Volt to multiple buyers!
I used to flip condos - now I flip Volts with my EBT card. I got my bitches too with my EBT card.
Hope and Change makin this brother happy.
http://www.youtube.com/watch?v=o64Fz-KW1Dk
I think they fixed those back in Y2k.
120 Volts is the recommended maximum.
Unless you go the AC-DC route.
Highway to Hell?
220, 221...
How many times can I do that?
Can I buy by the dozen?
Gross?
Thousands?
Hunderds of Thousands?
(thinking of how to convince the interrigators it was all for te good of the people)
you can buy a dozen or more only if you are a big banker in one of the "Too big to Fails".
Just a reminder:
ObamaVolt2012
I had forgotten that....thanks for the lolz.
I can't give enough votes "up" for that scam. kind of like when GM used to have that credit card(early 2000s?)that you could earn points on and people would load that thing up and basically get a free car.
Win-win. They get to double the sales figures for volts.
one good scam deserves another.
just thought of how to make the venture work even better.......trade in your junker and haggle on the trade in but NOT the sale price.....the saleman will then give you top dollar for the trade and make sure you take as cash/check....he will then rape you on the retail price and montly payment........but little does he know .....LOL
just trying to think will he be more shocked if you return the Volt, the very next day OR on day #59 ???
tyler is brilliant. maybe he can drumb up the stats of what the market,,haha, did i say that. computer game has done in the last hour say the last 8 months. from sept. OT onward
Gosh all I hear from the Obummer supporters is how he "saved the auto industry"......bunch of tools (pun intended)
What he did do was preserve the jobs of thousands of executives, laborers, and union bosses.
They all had one thing in common: they were all overpaid and underperforming.
I enjoy bashing unions but ultimately blame lays on the upper levels of management for decades of dumb decisions. I am sure there were engineers who knew how to build better cars and wanted to do so. Plenty of others inside who knew what to do but the geniuses who paid themselves high six and seven figure salaries made the bad calls that turned them into a government welfare beggar.
I have seen them in several companies I have worked for. They are pessimists and jerks who are exceptionally arrogant and overrate themselves, as a rule...and overpay. The last phase is when a finance guy leads your company. They usually know little about their field but can cut like hell. They just don't know how to make better products.
Doing my life over I would work for myself or startups with the inspirational founders. They tend to be the real geniuses and often pretty nice people who share the wealth.
I am hearing that as part of bailout Treasury guaranteed the residual values in auto leases financing GM vehicles. It's open-ended, so the dealer can overprice the car when sold under favorable lease terms. Customer lessee can bring car back after low lease payments for a year and taxpayers are stuck with the residual deficiency. Obammy must keep this doggy barking until election.
Stuffing is not just for Thanksgiving turkey anymore !
Isn't it about time GM screwed the bondholders again?
GM did not screw the bondholders.
The US Government screwed the bondholders.
Major difference.
If it was GM they'd get a Milken reception at Goldilocks
The Gubamnint is the ones supposed to uphold contractual rights, not fuck 'em.
That's like, just your opinion, man.
something is going on.....this month i received a bunch of postcards from different mercedes dealers saying that my 2002 ML is such high demand that they want to give me double book value for a car that as far as i can tell no one would take for $5000........if i am wrong and there is lots of demand here at ZH , contact me direct and we can cut out the middleman
Funny, they haven't sent me anything about my 1982 300TD. Maybe tomorrow.
Not a peep from them about my 1998 Dodge Intrepid. Well, it was a Mercedes for a while, if you remember.
The Govt could have invested in anything and it chose GM.
Someone in the Govt should be fired for this.
They haven't sent me a thing about wanting my 2002 Neon....pricks
Agree. Why not solar power? /sarc
The government never "invests" in anything. When you hear politicians talk about government investment, run like hell - they really mean more spending.
spending = taxing....so prepare to open up your check book. again.
Someone in the Govt should be fired for this. Hints:
1) anyone whose last name begins with the letter 'O'.
2) anyone whose last name is followed by either a 'D' or 'R' in parentheses.
3) anyone not covered by categories 1 and 2 above.
Hmm... Should we:
A. Invest in R&D and build better cars?
B. Lobby the gov't for more import tarriffs, and corporate welfare?
Woops, should've picked "A" instead.
ben needs to re calibrate the algos. they were 9 minutes late. be consistant man. 2:15 or your fired
HAHAHA!!! I was just telling a client of mine the same thing. Man you knew that was coming!!! How many down days have been cushioned by a low volume push in the last 30 minutes. This has turned in to a complete farce. What a joke!!! It wouldn't be so funny if it wasn't so predictable. I told that client we were in for a late day rally as soon as we couldn't push through 1329 on the S&P.
Don't worry, I'm sure Uncle Scam is waiting for the right price to step in and buy some more.
and we are getting our panties in a bunch over libor being manipulated? huh? this thing called an equity market just as much.. its not "turned into" its "been"
What isn't manipulated anymore?
That Abby Jo is lookin more like Maddoff every day. WB7?
GM go fuckin brankrupt allready,, geeez
And I am sure Barry is proud of what he did. Destroying bond holders, wasting taxpayer money, and by edict keeping GM alive when it should have filed Chapter 7. Good job Obama, and he follows that up with Solyndra, and on and on. What a business man we have for President.
What a complete waste of 4 years.
Darn right he's proud. Cronyism at its finest. He could give a shit about taxpayers. His buddies got paid.
Hahha - QE rumor ramp today courtesy WSJ. Hilsenrath again?
And that is exactly why you do not short this market for more than a few hours. It is broken. It is corrupt and it is not investible.
funny even perma fed ball-licker Steve LIESman is saying the Hilsenrath report was bullshit old reguitated crap.
Someone's jealous.
Mr. Market is going to be pissed when there is no release from Mr. Hilsenrath's ball feathering.
Mr. Market is a dead, bloated corpse bound and shot in the trunk of car somewhere.
Probably a GM.
pods
and they wonder why retail or ever pros for that matter dont want anyting to do with this joke. someone turn out the lights on this silly game. No human trader would buy into this constant QE crap . the day that phrase is forever retired will be a very happy one. Mommy make it stop!
Sold DIA Aug 125 puts for +25% overnight profit.
Bot GM and SPY calls.
Real time Overnight Options up +391% since begun 2 July 2012:
http://richcash8tradeblog.blogspot.com/2012/07/rich-cash-overnight-options.html
To the six anonymous who clicked the red:
Trading well is the best revenge...
Any business that requires ZIRP to survive will inevitably hit the wall. This includes the banks who rely on it to prop-up their extensive portfolio of underwater assets and the automakers who have had to utilize 0% financing for the past 10+ years in order to sell their products.
Glad it's not me buying into this pig.
hate to "burst your bubble", but if you pay taxes, you are buying into this pig.
Short Term Technical Analysis http://www.traddr.com/forum/topics/windsor-br...s-07-0-938
This is like watching old people fuck.
Just "pull it" already!!
Do u do that often?
Jonny Be brief,
Could you keep your nose offa my ball sack, these days she flops around a bit
signed
Pops
my favorite subject, GM. I wouldn't buy a GM car even if it was just $100. so, they steal $57,000,000,000 from the U.S. citizen taxpayer, use our tax money to build factories in other countries and they actually think anyone here in this country will buy their autos! Well, I have breaking news for the top management at GM! NOT IF I HAD TO WALK ON MY KNEES FOR THE REST OF MY LIFE would i ever purchase a General Motors auto. and, don't even get me started about the bondholder ripoff.
The new and improved volts have had installed a set of petals for when the battery dies after 30 miles, now with the proper diet and gym exersises you can extend the miles to 35 giving you another 5 free miles, Also they have a windmill installed in the trunk that can be extended to catch the wayward breezes and thereby giving you a extra mile or two. The US goveernment is buying them to give away for party prizes and local bribes, I understand that they are not having much luck giving them away
It's because the Koch brothers doesn't have enough money left after funding all the campaigns and organizations.
How much AAPL will PPT have to buy tomorrow?
If GM is this bad how good can Chrysler be trying to push the FIAT 500?
now that home prices are rising, can I interest you in a home equity loan at 1% the first year, and a variable rate thereafter? may we suggest you use it to get a chevy volt?
https://www.youtube.com/watch?v=gqsT4xnKZPg
Govt Motors is investing $750 million in R&D in Canada. We only gave GM $10.5 billion as part of the bailout.
Just last week JPM put out a 128 page report sahying to BUY GM and Ford
Oops