gasbag wrote: Anything is possible.
Be sure to watch out for that asteroid that is going to hit us on Sept. 19th.
Oh nooooooooooo ..........the sky is falling!!
Cat
(Jim just reads the forum once in a while)
Be kinder than necessary because everyone you meet is fighting some sort of battle.... Live simply, love wholly, give generously, care deeply, speak kindly.
Over the years there have been many Prognosticators predicting this company's stock will soar or that company will tank...
IIRC the Holy Bible (And most other Holy books) tell us to avoid Prognosticators for they know not what they are talking about.
Someone else on these forums (Or some other forums I frequent) says it so much better than I can and he does it with most every post..... His "Tag line" or "Sig File" says something like this
The Pessimist says: This tunnel sure is dark!
The Optimist says : But there is a LIGHT up ahead!
The Realist says : But that's the headlight of an oncoming locomotive !
And the Engineer says: "What are those three idiots doing STANDING ON THE TRACKS?
The first two in that story are Prognosticators
So I'll give you a financial prediction:
Thousands of people will buy into the myth of Cash Value Life insurance this month.. A few smart folks will trash that, buy Term and invest the difference.
That's my financial prediction.. The few, by the way, will be a lot happier 30 years from now. (Wish I'd done that 30 years ago)
Nothin adds excitment like something that is none of your business John is Near Kenwood TS-2000 housed in a 2005 Damon Intruder 377
Well, to add fuel to the fire, GM shares closed today below $9.99 a share. That is the 1st time since 1954, that GM shares have been below $10 a share. The ones I feel sorry for are the GM & Ford retirees who are going to go down hard, when their world collapses.
Bob & Betsy - USN Ret'd '78 & FL LEO Ret'd '03 FMCA #F203528 '05 HR Endeavor, 40PRQ w/400 Cummins - With -'05 GMC Sierra SLT, CC Z-71, the pusher '07 Arctic Cat 500A & Wilderness Kayak, riding in the pusher - Our Current Location
Not just GM/Ford retirees - but a lot of retirees who hold those stocks in their retirement plans, including those "few" who chose term insurance over cash value life.
however they just reported that GM was still number 1 over Toyota last month
2002 Rockwood 8272s
1999 suburban 5.7 k1500
The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.
Thomas Jefferson
gasbag wrote: Anything is possible.
Be sure to watch out for that asteroid that is going to hit us on Sept. 19th.
Oh nooooooooooo ..........the sky is falling!!
I wonder if this was what some were thinking prior to the Stock Market Crash of '29
GM goes down it will take all its in house jobs, the thousands of subcontractors and their thousands of vendors, from textiles to bolts, to glass, to tires, machine shops, diemakers, moldmakers etc.
I personally don't see much humor is human suffering
"The great challenge of adulthood is holding on to your idealism after you lose your innocence."
– Bruce Springsteen
I personally don't see much humor is human suffering
I see even less humor in doom sayers and those who dwell on bad news. I would not doubt that quite a lot of our country's problems have been exacerbated or even caused by the constant lip flapping of self important news casters, money market gurus and prognosticators and outright scam artists and those that believe everything they tell us. The entire stock market fluctuates on the rumors of trouble for one company or the whims of an investor spouting off on CNN. It is like watching two teams of sheep playing tag football.
Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?
Gasbag - You are right about what you say - in many respects, but it also cannot be gainsaid that the facts speak for themselves - and the facts about GM are irrefutable.
jcapps wrote: .....I wonder if this was what some were thinking prior to the Stock Market Crash of '29
GM goes down it will take all its in house jobs, the thousands of subcontractors and their thousands of vendors, from textiles to bolts, to glass, to tires, machine shops, diemakers, moldmakers etc.
I personally don't see much humor is human suffering
I am certainly not a "gloom and doom" person, but here's an instance where I agree with you. I doubt that the majority of people expected the Crash of '29.
A bit of common sense is in order here, and you are right in that if and when GM goes down, many will follow the path and there won't be any humor in it at all.
As for the asteroid, some things are definitely more likely than others.
Nothing I have read, and for good reason I read a lot on the topic, suggests it is imminent that GM will file bankruptcy and cease to exist. Wall Street does seem intent in promoting the idea they will file for bankruptcy reorganization. Many companies have gone this route in recent years and emerged a solid operation. GM still controls basically a 20% market share in this country and is still the second largest car company in the world.
While GM has made great progress in reducing operating costs, mainly legacy costs, in the past two years, they have yet to address a major flaw in their operating system. They have too many dealers and an antiquated marketing approach with too many marketing divisions. They are continuously spinning their wheels with two competing truck divisions selling basically the same product. Numerous divisions such as Pontiac, Buick, Hummer, GMC, Saab, and most likely Saturn have become redundant in today's market. They spend too large a percentage of research dollars "brand engineering" models to sell to the same market demographics under different division nameplates. Too many advertising and promotional dollars are wasted selling the same basic vehicle as a Chevrolet-Buick-Saturn-GMC while some of their truly excellent new products are not adequately promoted.
GM, with the protections and opportunities a reorganization would provide, could address moving to two marketing channels. One a Chevrolet Division to sell trucks and less expensive cars and one a luxury division to sell high dollar SUV's and luxury cars. They could then concentrate all their efforts on producing unique and best in class vehicles geared towards a specific market instead of average vehicles spread across four or five marketing channels all built for the same use.
GM will never change the minds of old fogies who want to judge them based on a product sold more than thirty years ago. Those people are stuck in a time warp! On the other hand, speak to present day owners of the new Malibu, CTS, Escalade, Cobalt, Aura, Enclave, or light duty Chevrolet trucks. Those vehicles are world-class and offer not only best in class quality but also excellent fuel economy compared to competition. It could well be that a bankruptcy for reorganization might be exactly what they need at this point.
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