GM is reduced to rubble: $0.75/s; "As GM goes,....."
A sad day for America.
GM shares fall below $1 as deadline approaches
GM stock falls below $1, lowest trade since 1933 as Chapter 11 filing appears likely
On Friday May 29, 2009, 11:44 am EDT
NEW YORK (AP) -- Shares of General Motors Corp. fell below $1 on Friday for the first time in 76 years as the struggling automaker approached a government-imposed restructuring deadline and a likely filing for Chapter 11 bankruptcy protection.
GM shares lost more than 22 percent to fall as low as 87 cents in morning trading. It was the stock's lowest trade since April 18, 1933, according to the Center for Research in Security Prices at the University of Chicago.
Shares rebounded to 89 cents by late morning.
The symbolic drop comes just days ahead of a government-mandated June 1 deadline to restructure. GM is expected to file for Chapter 11 bankruptcy protection by then, which would leave existing shareholders virtually wiped out.
More:
http://finance.yahoo.com/news/GM-shares-fall-below-1-as-apf-...
Liquidate them.
Hopefully, the GM bailouts will end and they will be allowed to blow away like dust in the wind.
I might add, it's the ten year anniversary of when they killed the electric car.
http://en.wikipedia.org/wiki/General_Motors_EV1
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
GM-China connection VERIFIED
on The Power Hour (5-28-09)
http://gcnlive.com/Archives2009/may09/PowerHour/0528091.mp3
go to 10:00 on your counter
Now it's plain and evident what's going on here and the sheeple still don't see it.
(This is reposted because last link was bad)
Help me here???
If (in the likely event) of GM bankruptcy,
won't the value of GM stock go to zero?
(it's at 79 cents now)
If that's the case...
why is anyone still holding GM stock now?
Are they holding to short the stock or something?
I don't fully understand shorting.
Just seems crazy to me to hold this stock just to watch your money swirl as it flows down the drain haha
Some are thinking long term and don't need money now.
How long is long term is anyone's guess. Short term, many people want something back now versus waiting GM out for possible future increasing value in their stock. That may never happen.
I gotcha'
thanks!
"GM stock falls below $1,
"GM stock falls below $1, lowest trade since 1933 as Chapter 11 filing appears likely"
They should also mention $1 was worth alot more in 1933.
thanks F3d3ral R3s3rv3!
http://www.meetup.com/RP2012GrandJunctionCO
Right.
One dollar in today's currency is roughly equivalent in value to a nickel in 1933.
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
There are startling simularities between GM and U.S.
will they meet the same fate?
Thomas Jefferson once said, "The natural progress of things is for liberty to yield and government to gain ground."
Well, I guess he called that one.
A Republic, If You Can Keep It
GM-China connection VERIFIED
on The Power Hour (5-28-09)
http://gcnlive.com/Archiv...
go to 10:00 on your counter
Now it's plain and evident what's going on here and the sheeple still don't see it.
Bad Link:
I wish everyone got it. They are in the process of building in China, but are bankrupt here?
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I love my country
I am appalled by my government
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I love my country
I am appalled by my government
Gettin IT............
Hi Tramp,
Re: What the sheeple arn't gettin:
http://www.dailypaul.com/node/50683
Re: Bad Link:
hummmm........ try this one
http://gcnlive.com/Archives2009/may09/PowerHour/0528091.mp3
GM talk starts at 10:00 on your timer.
link not working...
?