Realtalk. Mike, this is not panic. GM is going to go bankrupt. When rumors of brankruptcy fly, people sell their stocks. Period. Whats sad is Lutz was one of the good guys there and his stocks are WORTHLESS. He got 160k in stock money! That is nothing!

Seems GM's future is in China and elsewhere, not in America.

 

OK, guys. I understand the points you are trying to make, but try and understand mine. Bankrupcy may be very likely (maybe, at this point, even "inevitable", as you put it), but the more of a mass stock sell-off you have, the worse the situation gets, and the more likely bankrupcy DOES become. If people don't panic, there may (?) be some hope. If they do, forget it......GM, as we know it, is gone. We already know that Pontiac will be gone. Other divisions may (?) follow.

The question also arises as to who will actually BUY the stock when it gets this low. Certainly the government will own a significant block of it, since it is their bailout money. But there will also be a block available to private investors, and it just may be a bargain right now if the company gets restructured, back on its feet, and starts making money again. Those who dumped their shares may (?) be sorry down the road if the price starts climbing again.

But in all honesty, guys, I'm glad I never got really deeply involved in the stock market.....GM or otherwise......for this very reason. Stocks are just too risky. I kept most of my investments in the municipal tax-free category (with a few stocks), and it served me very well over the years.

 

Don't worry, Mike. I can assure you that Lutz won't be sleeping on any grates.



If he was smart and didn't blow the huge income he's made over the years at GM and Chrysler, he won't have to work another day in his life. I'd bet at least some of it is in a Swiss bank.


Here, we laugh at Buicks (well, I don't), but, in China, the public LOVES them. There are waiting lines at dealerships for them....for those who have the money. GM not only sells Buicks in China but also builds them there as well.