GM CEO buys 50,000 of GM shares

Globalist · 03-21-2005, 04:30 PM

GM CEO buys 50,000 of automaker's shares
Mon Mar 21, 2005 04:23 PM ET

DETROIT, March 21 (Reuters) - General Motors Corp. (GM.N: Quote, Profile, Research) Chief Executive Officer Rick Wagoner on Monday bought 50,000 shares of the automaker, which has been hit on the stock market after its warning last week of weaker-than-expected profits.
"This is a personal investment decision for me and it demonstrates my confidence in the long-term prospects for General Motors," Wagoner said in a statement.

**mgescuro** · 03-21-2005, 04:33 PM

grrr... you're always one step ahead of me.

Globalist · 03-21-2005, 04:35 PM

Quote:

Originally Posted by mgescuro

grrr... you're always one step ahead of me.

JVal14 · 03-21-2005, 06:00 PM

This could be just a publicity stunt to try to get market interest back. At $25 a pop, that's only about one and a quarter million, probably not that much money for Wagoner. Plus he'll see a lot of it back in dividends, assuming they don't lower them. Still, it gives me all the more disire to buy. Even if it only gets back to $50 in the next two years, that's an awesome return with a solid dividend to boot.

tom3 · 03-21-2005, 07:01 PM

Guy probably has options on a million shares for $10 each waiting to be exercised. Publicity stunt here.

**TaHoE** · 03-21-2005, 07:18 PM

Well I have a few shares, that I still haven't sold (I do believe there will be light in the tunnel someday), but this move is so pathetic....just a ploy for GM.

86fleet · 03-21-2005, 07:26 PM

well, at least he isn't selling them off

Maverick · 03-21-2005, 07:27 PM

Well, if he owns more of the company, it shows he obviously isn't trying to screw it up. Seems sort of like a vote of confidence for himself.

Globalist · 03-21-2005, 07:28 PM

Quote:

Originally Posted by Maverick

Well, if he owns more of the company, it shows he obviously isn't trying to screw it up. Seems sort of like a vote of confidence for himself.

That's also how I saw it.

ImajV · 03-21-2005, 07:37 PM

Wasnt his salary 12 mil last year ?

GM_Guy81 · 03-21-2005, 07:46 PM

I think this is a good move. With all the doomsday talk going around, seeing a CEO actually make a significant personal investment into the company is both refreshing and encouraging.

Bvonscott · 03-21-2005, 08:03 PM

Quote:

Originally Posted by GM_Guy81

I think this is a good move. With all the doomsday talk going around, seeing a CEO actually make a significant personal investment into the company is both refreshing and encouraging.

I agree, BTW I went to a chevy dealer today to look around(hadnt seen a cobalt on the road yet) and they denied a decline in sales when I told them what I had read in news. And the new corvette is AWESOME!!

Irrational · 03-21-2005, 08:11 PM

I'm sorry guys but I can't see how this is a good thing. It might just be my constant mistrust of corporations but this just reeks of false assurance. Why would he do such a thing if the company's really doing all right? The timing's just way too convenient for my taste. Something's not right at GM. I wish they'd just be upfront about it.

ejfx · 03-21-2005, 08:14 PM

Cool
I bought some this morning at $28.15.

After Wagoner bought his today it shot up to $29.69.

I just made a $450 from a perfectly timed stock purchase. And no, I had no inside info like Martha.

dindak · 03-21-2005, 08:41 PM

Smart. I bought some GM at $29 also. The bad news is probably all out and then some. Might be a little more downside but I sense that this is the bottom (and I don't very often say that about any company). A lot of good things are brewing and combined with cost cutting and a fire under management now, things are bound to get better.

03-21-2005, 04:30 PM	#1 (permalink)
Globalist 5.3 Liter Vortec V8 Join Date: Dec 2004 Drives: V6 3.2 L Posts: 1,252	[B]GM CEO buys 50,000 of automaker's shares[/B] GM CEO buys 50,000 of automaker's shares Mon Mar 21, 2005 04:23 PM ET DETROIT, March 21 (Reuters) - General Motors Corp. (GM.N: Quote, Profile, Research) Chief Executive Officer Rick Wagoner on Monday bought 50,000 shares of the automaker, which has been hit on the stock market after its warning last week of weaker-than-expected profits. "This is a personal investment decision for me and it demonstrates my confidence in the long-term prospects for General Motors," Wagoner said in a statement.

03-21-2005, 04:33 PM	#2 (permalink)
mgescuro GMI Staff Member Join Date: Jan 2003 Location: San Francisco Bay Area Posts: 24,237	Re: [B]GM CEO buys 50,000 of automaker's shares[/B] grrr... you're always one step ahead of me. __________________ 2000 Saab 9-5 Aero 1995 Mercedes C280 1994 Jaguar XJ6 ...when all hope is gone, you know sad songs say so much... My Vision of Cadillac My Vision of Cadillac (REDUX)

03-21-2005, 06:00 PM	#4 (permalink)
JVal14 3.9 Liter V6 Join Date: Oct 2004 Location: SoCal Posts: 994	Re: [B]GM CEO buys 50,000 of automaker's shares[/B] This could be just a publicity stunt to try to get market interest back. At $25 a pop, that's only about one and a quarter million, probably not that much money for Wagoner. Plus he'll see a lot of it back in dividends, assuming they don't lower them. Still, it gives me all the more disire to buy. Even if it only gets back to $50 in the next two years, that's an awesome return with a solid dividend to boot. __________________ Blah blah blah....green green green....global warning....blah blah....carbon footprint....green green....blah blah....catch phrase...talking head...blah blah blah

03-21-2005, 07:01 PM	#5 (permalink)
tom3 6.0 Liter Vortec V8 Join Date: Dec 2004 Posts: 1,798	Re: [B]GM CEO buys 50,000 of automaker's shares[/B] Guy probably has options on a million shares for $10 each waiting to be exercised. Publicity stunt here.

03-21-2005, 07:18 PM	#6 (permalink)
TaHoE GMI Staff Member Join Date: Jan 2003 Location: Long Island, New York Drives: 2002 Oldsmobile Aurora 3.5 Posts: 9,848	Re: [B]GM CEO buys 50,000 of automaker's shares[/B] Well I have a few shares, that I still haven't sold (I do believe there will be light in the tunnel someday), but this move is so pathetic....just a ploy for GM. __________________

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03-21-2005, 07:26 PM	#7 (permalink)
86fleet 5.3 Liter LS4 V8 Join Date: Dec 2004 Location: Rockville, MD Drives: 1993 Jeep Grand Cherokee Posts: 3,470	Re: GM CEO buys 50,000 of GM shares well, at least he isn't selling them off __________________ 1986 Cadillac Fleetwood Brougham; Without this car I could have been in to rice But then again, all those cars have "fart burners" on them. That "fart burner" ads 5-10HP to your car ;some of those small Hondas can whip a Vett off the line. (from anti-rice.com) So 115hp+10hp=430hp, at least in ricerland

03-21-2005, 07:27 PM	#8 (permalink)
Maverick 3.8 Liter Supercharged V6 Join Date: Oct 2004 Posts: 688	Re: GM CEO buys 50,000 of GM shares Well, if he owns more of the company, it shows he obviously isn't trying to screw it up. Seems sort of like a vote of confidence for himself. __________________ 2000 Jeep Cherokee Sport Where did Ford's hybrid technology originate? Ford Motor Company designed, developed and validated its own hybrid powertrain system. In fact, Ford expects more than 100 patents to be issued covering this unique Ford hybrid system. The Level Field Institute

03-21-2005, 07:37 PM	#10 (permalink)
ImajV 2.2 Liter ECOTEC Join Date: Oct 2004 Posts: 62	Re: GM CEO buys 50,000 of GM shares Wasnt his salary 12 mil last year ?

03-21-2005, 07:46 PM	#11 (permalink)
GM_Guy81 5.3 Liter Vortec V8 Join Date: Feb 2004 Location: Los Angeles, CA Posts: 1,267	Re: GM CEO buys 50,000 of GM shares I think this is a good move. With all the doomsday talk going around, seeing a CEO actually make a significant personal investment into the company is both refreshing and encouraging. __________________ "Government at its best is a necessary evil, at its worst it is an intolerable one" - Thomas Paine

03-21-2005, 08:11 PM	#13 (permalink)
Irrational 2.4 Liter ECOTEC Join Date: Mar 2005 Posts: 98	Re: GM CEO buys 50,000 of GM shares I'm sorry guys but I can't see how this is a good thing. It might just be my constant mistrust of corporations but this just reeks of false assurance. Why would he do such a thing if the company's really doing all right? The timing's just way too convenient for my taste. Something's not right at GM. I wish they'd just be upfront about it.

03-21-2005, 08:14 PM	#14 (permalink)
ejfx 3.8 Liter V6 Join Date: Aug 2003 Location: NEW ENGLAND Drives: 1970 Eldorado 500ci 8.2 Liter Big Block Monster Posts: 331	Re: GM CEO buys 50,000 of GM shares Cool I bought some this morning at $28.15. After Wagoner bought his today it shot up to $29.69. I just made a $450 from a perfectly timed stock purchase. And no, I had no inside info like Martha.

03-21-2005, 08:41 PM	#15 (permalink)
dindak 4.4 Liter Supercharged Northstar Join Date: Jan 2004 Location: Toronto area Posts: 2,160	Re: GM CEO buys 50,000 of GM shares Smart. I bought some GM at $29 also. The bad news is probably all out and then some. Might be a little more downside but I sense that this is the bottom (and I don't very often say that about any company). A lot of good things are brewing and combined with cost cutting and a fire under management now, things are bound to get better.

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