vinnys025 Posted May 31, 2009 Share Posted May 31, 2009 GM to file for bankruptcy tomorrow morning. Amazing. http://online.wsj.com/article/SB124380079212769963.html Link to comment Share on other sites More sharing options...
Pragmatic Bus Posted May 31, 2009 Share Posted May 31, 2009 who didn't see that coming Link to comment Share on other sites More sharing options...
joebabyny Posted May 31, 2009 Share Posted May 31, 2009 who didn't see that coming Oh please, I am sure you knew this was gonna happen 12 months ago. everyone is a market guru after the fact. Link to comment Share on other sites More sharing options...
rillo Posted May 31, 2009 Share Posted May 31, 2009 who didn't see that coming +1, they just put it off for a bit. Disgusting really.... Link to comment Share on other sites More sharing options...
Pragmatic Bus Posted May 31, 2009 Share Posted May 31, 2009 Oh please, I am sure you knew this was gonna happen 12 months ago. everyone is a market guru after the fact. not only did i knew, but i'm predicting GM wouldn't be the last car company to file for bankruptcy Link to comment Share on other sites More sharing options...
vinnys025 Posted June 1, 2009 Author Share Posted June 1, 2009 This is major, GM is the staple of the American economy. Link to comment Share on other sites More sharing options...
Larz Posted June 1, 2009 Share Posted June 1, 2009 This is major, GM is the staple of the American economy. they're not folding, just going to go through a restucture. This is good for them in the long run, the judge will force the union to give up some concessions Link to comment Share on other sites More sharing options...
Thai Jet Posted June 2, 2009 Share Posted June 2, 2009 they're not folding, just going to go through a restucture. This is good for them in the long run, the judge will force the union to give up some concessions I know that the engine plant here in Buffalo is looking at another 30% layoffs. At least they're still open. Link to comment Share on other sites More sharing options...
Arsis Posted June 2, 2009 Share Posted June 2, 2009 I miss Capitalism. Link to comment Share on other sites More sharing options...
DMaynard Posted June 2, 2009 Share Posted June 2, 2009 +1, they just put it off for a bit. Disgusting really.... At $50 billion, procrastination gets very expensive. Link to comment Share on other sites More sharing options...
PatsFanTX Posted June 2, 2009 Share Posted June 2, 2009 GM to file for bankruptcy tomorrow morning. Amazing. I bought 6,000 GM shares after the announcement. Link to comment Share on other sites More sharing options...
faba Posted June 2, 2009 Share Posted June 2, 2009 I bought 6,000 GM shares after the announcement. Freeloader off the gov't. Link to comment Share on other sites More sharing options...
PatsFanTX Posted June 2, 2009 Share Posted June 2, 2009 Freeloader off the gov't. When you take the risk to invest, does it really matter where the profit comes from? Link to comment Share on other sites More sharing options...
vinnys025 Posted June 2, 2009 Author Share Posted June 2, 2009 I bought 6,000 GM shares after the announcement. Holy crap, I had no idea you were back. Welcome back dude. I'm sure you remember me from JI. Link to comment Share on other sites More sharing options...
LionelRichie Posted June 3, 2009 Share Posted June 3, 2009 I bought 6,000 GM shares after the announcement. i don't understand this one - i thought the shareholders were getting wiped out in the bankruptcy. the us gov't is getting 60% of the new company, the union is getting 17%, canada gets 10%, and the bondholders are getting the rest. is this not accurate? Link to comment Share on other sites More sharing options...
JerryK Posted June 3, 2009 Share Posted June 3, 2009 i don't understand this one - i thought the shareholders were getting wiped out in the bankruptcy. the us gov't is getting 60% of the new company, the union is getting 17%, canada gets 10%, and the bondholders are getting the rest. is this not accurate? You are correct. Think twice about "cheap" stock until they're about to emerge. When a company files Ch11, the FIRST thing the judge does is nullify most of the common stock. Gone. Poof. Kerput. Nada. I owned boston market stock when they filed like 8yrs ago. They're still in business, because of the debt they shed by setting their stock on fire. Link to comment Share on other sites More sharing options...
Jetscode1 Posted June 3, 2009 Share Posted June 3, 2009 I miss Capitalism. Its been gone for awhile... Link to comment Share on other sites More sharing options...
vinnys025 Posted June 3, 2009 Author Share Posted June 3, 2009 Its been gone for awhile... MARXIST!!! Link to comment Share on other sites More sharing options...
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