GM loses over a Billion Last Quarter......

[Cut-Throat]

They should have given all the posters on the ER forum $10 Million, stayed home and pocketed the rest. 8)

 

[KB]

They aren't offering any new Smartnotes now. Is that because they are considered junk bond rating?

 

[Mr._johngalt]

I doubt it. Junk bonds are still being sold.
I'll tell you one thing though. They won't be calling mine
any time soon. We are joined at the hip now, however
things work out. Okay with me, as long as I keep getting my interest checks. BTW, I like Cut-Throat's idea too. Could be applied to a whole bunch of federal Gov. spending as well.

JG

 

[Michael]

Is that because they are considered junk bond rating?

They used the last major bond offering to finance their pension plan. Now that it is funded for now, they don't need to issue so many new bonds. It is easier to drive their bonds into junk status, than it is to risk government wrath by risking their pensions plan being offloaded onto the government agency that insures it.

 

[Mr._johngalt]

Good post Michael. You know, in a sense GM and the
government are "joined at the hip" too. I don't know
(as a bondholder) if I should take comfort in this or not

JG

 

[azanon]

I noticed the share price now is about what it was in 1983 or thereabouts. Good deal now?

 

[Mr._johngalt]

I don't like their cars much and I think some of their marketing methods are just dopey. OTOH, they have been around forever and are bigger than most countries; and I don't expect any disasters,
at least not in my lifetime. If I was a stock investor, I would seriously consider it. "Blood in the streets" and all that.

JG

 

[cute fuzzy bunny]

Couple of names for you...

Standard Oil
American Smelting
Studebaker
Nash
Westinghouse
Woolworths
Central Leather
Baldwin Locomotive

Powerful, well respected, highly revered members of the Dow...

 

[azanon]

I couldnt imagine GM going down anytime soon. Way too many rednecks in America still. Hell, one of em is our president.

 

[lazyday]

Isn't Standard Oil, (S O), (Ess Oh), Esso, Exxon, ExxonMobil?

(more or less; perhaps it was split and other parts still remain?)