GM Stock: ALL YOU NEED TO KNOW

DETROIT (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) shares fell as much as 21.6 percent to their lowest level since 1950 on Thursday amid financial market turmoil and the car maker's report of European sales declines through the first nine months of 2008.

GM, whose shares fell as low as $5.42 on the New York Stock Exchange, blamed the credit crisis and inflation for hurting consumer confidence in Europe, where its sales have declined 1.9 percent in 2008 through September.

GM, the largest U.S.-based automaker, posted a $15.5 billion net loss in the second quarter and announced plans in July to cut costs by about $10 billion. The company has been restructuring in North America to meet increasing demand for more fuel-efficient vehicles.

Read the full story here

-OR-

::See GM CEO Rick Wagoner make his case for the future of GM on video
::GM Stock Quotes
::VIDEO: GM Stock Cheaper Than Gas
::Cheap GM Stock Shares Lead GM To Suspend Employee Stock Purchases

Comments

[AlligatorShuz]

Three years ago GM, Ford and Chrysler went to Washington to meet with George Bush and he refused to meet with them it wasn't until the entire Michigan delegation including the two U.S. senators who pressuerd him to meet with the U.S. auto makers and when he did he met with them for only one hour and he told them he was not going to bail them out. Now look at what is happening... And GM lobbyist and their executives give to more republican candidates them democratic candidates.

[AlligatorShuz]

The State of Michigan has been in a depression for nearly two years. I knew it had gotten bad when Ford Motor Company started to get rid of lawyers and vice presidents.

[AlligatorShuz]

I live in suburban Detroit, Michigan and GM went to the City of Detroit, Fire &Pension board asking for two loans on yesterday.

[BannedInBoston]

"It's Somewhat Of An Unsettled Time"

Er, yeah.

[Madmac]

Here's an idea to save GM. Why don't the workers buy the company?

[bitabingbitabangbitaboom]

With what......­..........­..........­........th­eir upside down houses????­??????????­????

[Heyman]

G.M. deserves where they're at right now. I owned Chevy's for 20 years. Last November, I bought a Prius. G.M. couldn't think ahead? Their fault. Their loss. Bye, bye...G.M.!
When my Prius is paid off? I'll by installing a SOLAR kit on it. No more gas!

[itsafreakingame]

and when your batteries go dead it will cost you $5,000.00 to replace

[itsafreakingame]

heyman thats $5,000.00 every five years, the batteries don't last any longer then that. What do you think that will do to the re-sell of your Prius?

[Steambomb]

A simple note to the GM exec on you tube.

You thought Bush was wonderful for giving small businesses a big tax credit for buying your bloated SUVs. How do you like him now? Maybe you can find a way to turn those SUVs into shelter for the millions of Americans that are going to be left homeless due to Bush's economic disaster. I hope you sleep at night.

[BadgersBite]

You can't totally blame the car companies for making SUV's, there is a demand for them, just look at any parking lot anywhere in the country and count the number of SUV's. The car companies were pushing them but the American consumer was demanding them too. Everyone I've ever talked to who owned an SUV they liked the fact that they could see over the traffic, of course that only works if not everyone is driving a SUV, and they said they felt safer driving one.

I agree the auto company of the future has to be more forward thinking. It might actually be a good time to buy some GM stock, lowest in 50 years, because the auto compnaies are going to get bailed out too, the government is not going to let a business fail that employs that many people.

[bitabingbitabangbitaboom]

When there`s no money left to borrow there`s no money left to borrow

GM soon to be Toyota/GM or Renault/GM

GWB is a FHAKWIT

[pbfishtaco]

Is this why they call it the "Volt"? Shocking.

[IllinoisTexan43]

I worked for G**dyear Tire for almost 12 years before being laid off this January. It always amazed me how far behind the curve in tire manufacturing and trends they were. You would think at a certain point the R&D dept. would look at what the Asian factories were doing and try to beat them to the punch. Now, the Asian and European manufacturers have cornered the market in tire manufacturing. The same can be said for the American auto industries. They have seen the trends from the Asian markets but has time and again gone for the big bucks instead of building a solid base with smaller cars and trucks. It's failed leadership from the top,not the workers or unions who have sunk the American auto market.

[imusintheevening]

The only good thing I can say about GM is that the cars they build in China seem nicer than anything they build here, but they deserve to go BK, they are a bloated blight on technical innovation.

[anythinggoes]

LIBERAL SO CROOK AND RADICAL HAPPY WITH FOREIGHT CAR AFTER US AUTO COLLPAS JAPANES WILL MAKE TRIPLE COST AND U LIBERAL SCUM CANT BUY CAR AT LEAST U GET WELFARE JUST LIKE U ALL,FREE TRADE THANKS TO CLINTON

[Steambomb]

You just cant make this stuff up. Its astounding and dumbfounding.

[LorettaSingbiel]

But ... But ... But ... CLINTON!?

Your man BUSH is God's gift to mankind ... ain't he? Just ignore the approval rating polls that say otherwise!

OBAMA/BIDEN '08!
HOPE and CHANGE WE CAN BELIEVE IN!!!

[bitabingbitabangbitaboom]

GWB needs to go suck his mothers tit

[helonias]

Stupid is as stupid does

[yorkie]

HOPE IT DOES NOT GO BANKRUPT,,­,,,,IRONIC HOW ROGER AND ME FILM BY MOORE SUMS UP ALOT,,,,,,,,,,,A ONCE PROUD CORP IS NOW BARELY HANGING ON,,,,,,IT GOT FAT,LAZY IN 80'S DURING THE REAGAN YRS,,,SCRAPPED PLANS FOR ELECTRIC CARS, AND BETTER MPG LIKE 45-50 MPG CARS IT COULD HAVE MADE DECADES AGO !!!!!!!!!! PRES CARTER HAD EXEC ORDER TO HAVE ALL US AUTOS WITH 45-50 MPG BEFORE 1990 !!!!! REAGAN NIXED THAT IDEA RT AWAY IN 1981 !!!!!!!!!

[Hufforama]

The big three automakers are in the toilet because they produce crap. I drive a Honda, made and assembled in Canada..100% north american made. It's the best car I've ever owned, and I didn't put a north american autoworker out of work by buying it. Think about it....

[kissy kai]

THATS WHY THEY ARE IN THE TOILET. BUY AMERICAN. RETIRED UAW WORKER.

[bitabingbitabangbitaboom]

You produced Crap daily.....­..........­..........­....hope your pension hols out.......­..........­..but Karma baby

[Awash]

The Amero - North American Currency http://www.youtube.com/watch?v=6hiPrsc9g98

U.S. Ships 800 Billion "AMEROS" to China; prepares to De-Monetize U.S. Dollar

Here is the link
http://halturnershow.blogspot.com/2008/10/us-ships-800-billion-ameros-to-china.html

The US Secretary of the Treasury has informed the China Development
Bank that the US has shipped $800 Billion of a new currency called the
Amero, which is to be based upon the merging of the economies of The
United States, Mexico and Canada into what is termed as The North
American Union. The current American debt obligation to China, currently based on the
US Dollar, is now estimated to be the staggering sum of $2.5 Trillion, and which this new Amero will be exchanged for $400 Billion of this debt as the current American currency is set to be devalued by 50
percent before the end of the year.

How severe will the coming dollar collapse be?

"People in the U.S. are going to be hit hard," Chapman warned. "In the severe recession we are entering now, Bush will argue that we have to form a North American Union to compete with the Euro."

"Creating the amero," Chapman explained, "will be presented to the American public as the administration's solution for dollar recovery. In the process of creating the amero, the Bush administration just abandons the dollar."

[imusintheevening]

Dude, the Dollar was 88 cents per euro the day Bush was elected, and in July it was $1.60 per euro, so the 50% slide prettey much happened already.