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Old 05-05-2009, 06:18 PM   Nav to Top  #11
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thanks for the article. It sounds like the 'dissidents' are resisting being strong-armed by the political thugs in power. Sad that some former dissidents have caved into pressure. I wonder what kind of threats they received.....

Low of 1.65 today... this beast is dropping like a rock. Smells like fear to me, and that makes me drool.

I want to find out more about Arthur Gonzalez.

also slightly off topic, I was at a UAW factory today assisting them in finding a solution to a production problem...anyway, as 3:00 approached, I witnessed a long line of workers, just standing around in a queue in front of the time clock, half of them proudly wearing their UAW t-shirts. They stood there for twenty minutes just chatting it up. Plenty of possible 'busy work' surrounded them (i.e. clean up..etc) but there they stood, soaking up the last paid minutes of the day. When the clock struck 3, they clocked out with great expediency. What a crying shame. This lackadaisical attitude has sucked the life blood out of legendary American companies. There will be no recovery for these companies as long as the UAW status quo is being kept.
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Old 05-05-2009, 06:30 PM   Nav to Top  #12
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No problem. Unions in general are horrible for business, great for employees. When this mess started last year, I actually thought the UAW would be the losers, naive me.

At this rate of decline we'll be touching 1.40-1.50 soon

The lower we go the more I want.
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Old 05-07-2009, 01:49 PM   Nav to Top  #13
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Default In much deeper

OK...added 50% to my position at $1.55. I'm in deep now

I'm "speculating" on the fact that our constitution divides power equally between the executive, legislative and judicial branches. ....Perhaps betting on the current administration upholding the constitution is a bad move, but we'll see.

New average at $1.96. --> need $0.00784 on the dollar to break even. If $0.25 on the dollar, current price of $1.54 represents a gain of 400%.
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Old 05-07-2009, 02:43 PM   Nav to Top  #14
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I bought my final block @ 1.50, now im averaged at 1.87.
Now its time to sit back, relax and enjoy the show Hopefully make some money in the end.
At this point BK looks like the noly option, since I doubt the bondholders will go for lousy .10c. Hopefully terms like constitution and the rule of law still apply in BK court.
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Old 05-08-2009, 02:08 PM   Nav to Top  #15
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Hello Everyone!

Just to clarify something if you would be so kind. The par on BGM is 25. For every 1,000 in par you have you will receive 225 shares of GM?

Thanks!

Joe
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Old 05-08-2009, 07:07 PM   Nav to Top  #16
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this guy pretty much covered it all:
Investment Ideas: GM Bonds Exchange Offers & Consent Solicitations

good luck

Originally Posted by strumy View Post
Hello Everyone!

Just to clarify something if you would be so kind. The par on BGM is 25. For every 1,000 in par you have you will receive 225 shares of GM?

Thanks!

Joe
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Old 05-08-2009, 09:25 PM   Nav to Top  #17
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Thank you Sblok! That was exactly what I was looking for.
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Old 05-11-2009, 02:05 PM   Nav to Top  #18
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Default Can't help myself

I just couldn't help myself...had to buy more at $1.25.

new average at $1.81.

**Also: I received GM tender offer in the mail last week, and I've submitted my vote. NO. ( If there were a "Hell No" option, I would have selected it... )

Funny how their prospectus didn't mention with any clarity that the plan was to hand over 89% of the equity to the auto unions and dilute current common shareholders down to 1%.

This is really shaping up to be Obama vs. the Free Market and the Rule of Law.
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Last edited by Mac; 05-11-2009 at 02:18 PM.. Reason: added tender offer vote
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Old 05-12-2009, 12:14 PM   Nav to Top  #19
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People are really scared, current pps 1.13 !
At this price there is very little risk, im surprised not many people are on board for this one..

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Old 05-12-2009, 12:23 PM   Nav to Top  #20
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Default Smell of Fear is in the Air

I've got more buys in at $1.01 and a large buy at $0.75. There's liquid on my desk...is it sweat or drool? I'm pretty sure it's drool because I can smell the fear, but I can't be sure right now....I'll know in July.
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