GM buying back the stock from the government. A year or so ago, it was up to 23 billion owed. Now they are saying it's only 16 billion. The stock hasn't gone up, so they must be buying it back
Wait, Romney hasn't even been elected, and this is somehow his fault?! ...I bet Bush is appreciating the breather. *grin*
$16 Billion loss. We need to cut and run Let's return America to its greatness. www.savingthedream.org I totally disagree, you don't sell when the market is down. Your only repeating what Romney said. It's amazing how both sides repeat the Party line.
It wasn't the governments job to do it. Fine, keep the taxpayer money out it, it is not up to government to decide winners and losers and pit one group of taxpayers against another using the money of both. Yes government should never have become an owner in a private company, whether chapter 7 or 11 we will never know because Obama decided to play boy industrialist and he has lost us $16 billion in the process, screwed over thousands of workers and small business owners and bond holders in the process.
You don't hold on to losing investments that aren't offering any return nor return to value in any foreseeable future. You take the money and use it for something productive that will give you a better return.
nope, I'm speaking from a pure business perspective. We do not have the money to ride the pig of hope. Liquidate the stock, take the loss, admit the f up to the public and use the money elsewhere
Like what? The market is down all over. We haven't lost as long as we hold it or as long as GM continues to buy stock back. I can just hear Conservatives come Oct and Nov. using that as an election tool. We don't need to throw billions away just to say I told you so.
See, there you're wrong. We KNOW that without the government stepping in, it would have been a Chapter 7 liquidation. That's simply a fact. I can respect someone willing to crash GM over principle, effects on the economy be (*)(*)(*)(*)ed -- but at least own the consequences.
GM stock almost certainly has more upside than downside at the moment though. So dumping it now would be stupid -- the epitome of "buy high, sell low".
It is not a fact just because you declare it to be one. We don't know what would have happened but chances are GM would have continued building cars while it reorganized.
