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Old 05-29-2009, 05:51 PM   Nav to Top  #41
sblok
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I sold 70% , the rest is pretty much free....
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Old 05-29-2009, 10:06 PM   Nav to Top  #42
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Hi Mac,

Yeah, I saw that new 'deal' they came up with. I can't believe the crooks we have running this country. I called my brother in Texas today, and it was the shortest conversation I have ever had with him. That was because I just caught him as he was on his way out. He just said: Hi buddy, gotta go. I got an appointment with an attorney. Call ya later. Bye.

I may be wrong, but that may have had something to do with his GM retail bond holdings, along with the present situation. He's got over 40,000 of them, and he bought some of them for as much as $6. His average is probably somewhere around $4. I was going to congratulate him, because at first glance, I thought we had good news. Now I really feel sorry for him.

You see he was relying on Obama's promises. Obama promised more than once that America would NOT let the US auto industry fail! He made a promise like that before he was elected, and a few more afterward. So my brother assumed that Obama would be a man of his word, while he is not. Sad. Very sad.

General Motors is too big a company to have a nice neat quick and easy bankruptcy. This could turn into a disaster for all concerned - certain bondholders, auto dealers, parts suppliers, union workers past & present, and ongoing ripple effects that might even touch more people than I can imagine.

And the bottom line is, can GM be a viable company into the future after restructuring? Personally, I don't think so. Not if the US government is going to own and run it. And I have been to many blog sites all over the internet regarding this topic. And I have seen a common theme posted many a time. And that theme was something like this: 'I will NOT buy a car from a company owned and operated by the US government and/or a union.' And many, many, many people posted statements similar to that. Or they said something like: 'If the new GM stands for Government Motors, I will buy a Ford, Toyota, Honda, Subaru - anything but a GM product!' And some of these guys were loyal GM customers for more than 40 years!

But Mac, congratulations on your 37% gain. I am glad you got out in one piece. I am still waiting to hear back from my brother. I hope he's alright . . .

King Barry and his criminal partner RATner are as crooked as it gets . . .
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Old 05-29-2009, 10:23 PM   Nav to Top  #43
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I wish I could have yelled louder during the elections that Obama is akin to a snake oil salesman. But alas, it's easy to herd sheep from atop a podium.

Here's to 'hope and change'.
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Old 05-29-2009, 11:17 PM   Nav to Top  #44
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Originally Posted by Kordoyn View Post
Here's to 'hope and change'.
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Old 05-31-2009, 12:18 PM   Nav to Top  #45
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I bailed out completely as well, did ok as I bought some as cheap as 1.10
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