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Tractor Talk Discussion Forum

OT: GM common stock, time to buy????

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Midwest redneck

12-21-2005 13:49:32




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GM common stock is 19.05 down another 85 cents today. Where is the bottom on this? I wouldnt mind buying some of the stock at this super low price. I had a finacial guy tell me that it should go to 18 or so if Delphi goes on strike, but now it may go lower then 18....who knows. I guess Kirk Kerkorian sold off a lot of it for tax reasons.




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ITCHY

12-22-2005 13:22:59




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 Re: OT: GM common stock, time to buy???? in reply to Midwest redneck, 12-21-2005 13:49:32  
we bought gateway at 52. no bankrupt,no reason,
and now it is under $3.00 wowie take your chances. dont even think of buying anything that is in the news.good luck



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kyhayman

12-21-2005 17:05:49




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 Re: OT: GM common stock, time to buy???? in reply to Midwest redneck, 12-21-2005 13:49:32  
I wouldnt touch GM stock at $.18 a share. The road to bankruptcy, following the path of the airlines is paved clear. There is nothing they can do to compete with Toyota and Honda with the albatross of unfunded pension and health liabilities hanging over them. 2007 promises to be another blow to a storied American icon when there UAW contracts are up for renegotiation. They cant continue to pay workers 95% wage on layoff and I cant see the union letting this benefit go down the tubes. When GM declairs bankruptcy the real loosers will be those same retirees and the stock holders.

To me, Cat is the bargain to be had at $58. Its $17 off their 52 week low but last time I was in CAT I bought at $57 and sold at $91; 13 months later. I did a quick search, CNH, Deere, and Dollar General all look solid in their range. Not any apparent get rich quick options but the fundamentals are there to make money over time. Were I not all tied up in a subdivision development I'd be sinking deep into CAT.

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dhermesc

12-22-2005 05:38:40




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 Re: OT: GM common stock, time to buy???? in reply to kyhayman, 12-21-2005 17:05:49  
I agree, the largest car company in the world has less stock value then Harley Davidson. Ford and GM are both slowly positioning themselves to file bankruptcy, might take two or five more years but that is the road they are on. If your "market advisor" is pushing GM on you I'd find a new broker.



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Midwest redneck

12-23-2005 02:09:24




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 Re: OT: GM common stock, time to buy???? in reply to dhermesc, 12-22-2005 05:38:40  
my broker isnt pushing me to buy it. But like old saying goes, buy when theres blood in the streets. I believe that GM and Ford could (would) declare bankrupcy to get the unions off their backs and come out ahead in 6-12 months. The benefit entitlements are outrageous.



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Davis In SC

12-21-2005 19:28:24




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 Re: OT: GM common stock, time to buy???? in reply to kyhayman, 12-21-2005 17:05:49  
Dollar General seem to the growing by leaps & bounds, here in the South, They just built a huge distribution center, here, & the are building new stores at a rapid pace... Seems like that might be a good stock like Walmart was 20 years ago... Another Retail chain that I have been following is Freds, similar to Dollar General... they seem to be thriving... As far as GM goes, look what happened to the K Mart stockholders...

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Everett Mi

12-21-2005 16:05:54




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 Re: OT: GM common stock, time to buy???? in reply to Midwest redneck, 12-21-2005 13:49:32  
Just seems to me everything GM is building has that China look to it. Could be it is that way to reflect where they are investing their money.



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Sucker for Delphi

12-21-2005 13:58:43




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 Re: OT: GM common stock, time to buy???? in reply to Midwest redneck, 12-21-2005 13:49:32  
I would stay away - I bought Delphi sotck years ago when it was $19.....now it is 36 cents!
I too thought, it would go up - thought so much of the american automotive system...GM depended on them too much....



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RB/CT

12-21-2005 13:55:29




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 Re: OT: GM common stock, time to buy???? in reply to Midwest redneck, 12-21-2005 13:49:32  
They better wake up, Toyota will surpass them and be number one. Toyota is building a truck plant in Texas to hire more Americans, as they did in California, and other US locations. GM is buying in China to help them find jobs. Its time for GM to ax its managers or they will be taken over. They need a total new plan to survive. I would not want to own any of their stock, I would buy Toyota or Honda stock. Good Luck.

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Ray

12-21-2005 15:31:24




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 Re: OT: GM common stock, time to buy???? in reply to RB/CT, 12-21-2005 13:55:29  
I bought $10000 in GM bonds the day before they went to junk bond statis,afraid to check on them now.It was my brokers advise.



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dhermesc

12-22-2005 05:33:56




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 Re: OT: GM common stock, time to buy???? in reply to Ray, 12-21-2005 15:31:24  
Wonder how much your broker made by making that sale before they where reclassified?



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