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09-19-2005, 07:28 PM
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#1 (permalink) |
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5.3 Liter Vortec V8
Join Date: Jan 2003
Location: People's Republic of California
Drives: 2007 Tahoe LT,
1987 Buick Grand National
Posts: 1,379
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GM hit with investor lawsuit
Link: http://news.yahoo.com/s/nm/20050919/...ZuBHNlYwMxNjk0
DETROIT (Reuters) - General Motors Corp. (NYSE:GM - news) was hit with a lawsuit on Monday claiming that it misled investors about its financial outlook before the dramatic earnings warning GM issued in March that battered its shares and debt.
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The new American reality where green is the new red. 2007 Chevrolet Tahoe LT 1987 Buick Grand National 1977 Camaro LT: Vortec 4.8/4L80-E Retrofit |
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09-19-2005, 08:20 PM
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#3 (permalink) |
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2.2 Liter ECOTEC
Join Date: Oct 2003
Location: Farr West, Utah
Drives: 2006 Silverado LS Crew Cab
Posts: 87
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Re: GM hit with investor lawsuit
So long as they don't can Lutz I wouldn't care, but the flip side of that is the cost for GM... now is NOT the time for them to have to pay an inflated settlement. On the other hand, if the suit was bought against Wagoner and his cronies instead of GM... now that would be justice...
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09-19-2005, 08:22 PM
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#4 (permalink) |
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3.8 Liter V6
Join Date: Nov 2004
Location: Yucaipa, CA
Drives: 2004 BMW Z4 3.0i
Posts: 332
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Re: GM hit with investor lawsuit
Gotta watch my ticker again, me thinks it is almost time to stock up...
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Currently in the driveway: 2005 GMC Canyon Z85 Crewcab 2002 Saturn SL2 2000 Saturn SL2 1969 Chevrolet Camaro 350 1968 Firebird 400 Coupe Non-GM 2004 BMW Z4 3.0i 2002 BMW 325Ci convertible Gone but not forgotten: 2005 Pontiac GTO Supercharged 487RWHP/490RWTQ |
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09-19-2005, 08:28 PM
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#5 (permalink) |
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7.0 Liter LS7 V8
Join Date: Dec 2003
Location: In front of my computer
Drives: 2006 HHR
2002 Corolla-Before I saw the light
Posts: 8,058
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Re: GM hit with investor lawsuit
Oooh please... Bounty hunting is soo common place now in america, it does not even make me blink anymore
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Before Understanding comes Faith "Legislatures represent people, not acres or trees"-Earl Warren |
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09-19-2005, 09:02 PM
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#6 (permalink) |
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6.0 Liter LS2 V8
Join Date: May 2005
Location: Just right here
Drives: 1980 'Vette
Posts: 4,972
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Re: GM hit with investor lawsuit
That seemed to be a great deal of innuendo and not much fact.
Rick W. isn't going anywhere, least of all in handcuffs.
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Of all the properties which belong to honorable men, not one is so highly prized as that of character. Henry Clay |
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09-19-2005, 09:08 PM
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#7 (permalink) |
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6.0 Liter Vortec V8
Join Date: Feb 2003
Location: Pembroke, Ontario
Drives: 1998 Ford Escort SE 5-spd Sedan
Posts: 1,558
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Re: GM hit with investor lawsuit
Kirk Kerkorian just lost a lot of money...
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Wanted: ☻ Mini Cooper S, 6MT ☻ Kia Rio5 Sport, 5MT ☻ Saturn Astra XR, 3-Door 5MT Current: ☻ 1998 Ford Escort LX, "Sport" Sedan 5MT Previous: ☻ 1991 Chrysler Daytona Shelby 2.5L Turbo, 3AT ☻ 1989 Plymouth Sundance, Sedan 3AT ☻ 1979 Chevrolet Scottsdale Reg Cab, 2WD 350ci 4bbl AT |
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09-19-2005, 10:00 PM
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#9 (permalink) |
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3.6 Liter V6
Join Date: Oct 2003
Location: Houston, TX
Drives: 2006 Mazda 3
2003 CTS - Sold
Posts: 1,145
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Re: GM hit with investor lawsuit
Our current political climate supports big business and you can rest assure that they will not let anyone touch a big player at GM. Marta Stewart yes but look at the pattern in other area and you will see most get off.
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09-19-2005, 10:03 PM
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#10 (permalink) |
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6.0 Liter LS2 V8
Join Date: Jul 2005
Location: Portland, OR
Drives: 2007 Cobalt
Posts: 4,818
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Re: GM hit with investor lawsuit
Sounds like foolish investors....suing for money wont get them much, and there goes profits on their investments! Doesnt make much business sense to me.
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09-19-2005, 10:24 PM
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#11 (permalink) |
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6.0 Liter Vortec V8
Join Date: Dec 2004
Location: Waco, TX
Drives: 2007 Chevy HHR LT
Posts: 1,933
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Re: GM hit with investor lawsuit
Why is everyone sueing GM? It looks like they want GM to fall.
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 Current Ride: 2007 Chevy HHR LT Future Ride: 2010 Camaro SS |
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09-19-2005, 10:31 PM
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#12 (permalink) |
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3.8 Liter V6
Join Date: Aug 2003
Location: NEW ENGLAND
Drives: 1970 Eldorado 500ci 8.2 Liter Big Block Monster
Posts: 334
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Re: GM hit with investor lawsuit
This was no secret...only an idiot wouldnt realize impending financial problems...this retard should have done his homework. I should file a lawsuit against the idiots for pissing me off!
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09-19-2005, 10:44 PM
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#13 (permalink) |
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6.0 Liter LS2 V8
Join Date: Aug 2004
Location: Toronto, Ontario
Posts: 4,162
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Re: GM hit with investor lawsuit
*sigh*
Further evidence for my long-standing argument that the "Wall Street system" is broken. You have a company that's in bad shape, so what happens? Sue it to get some more money away from useful things (new products, UAW contracts, whatever) and into the pockets of the same shareholders who sat and cheered as idiotic managers destroyed that company. Now Wagoner and co and trying to mop up the mess, and they get sued... WHY NOT SUE THE IDIOTS WHO PUT PROFITS AHEAD OF QUALITY AND PRODUCT FOR TWO DECADES? Oh wait... those suckers did what Wall Street (and its import-driving analysts and such) wanted. And people wonder why Japanese business is so much more successful... |
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09-19-2005, 10:46 PM
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#14 (permalink) | |
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6.0 Liter LS2 V8
Join Date: Aug 2004
Location: Toronto, Ontario
Posts: 4,162
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Re: GM hit with investor lawsuit
Quote:
Welcome to 21st century capitalism. Sweatshop factories abroad, a couple highly-paid executives in big mansions paid for in part by tax cuts, and big profits for shareholders, assuming those executives didn't embezzle most of the money. GM (particularly with that big unionized workforce, health benefits, etc.) is sooo 20th century. |
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09-19-2005, 11:12 PM
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#15 (permalink) |
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7.0 Liter LS7 V8
Join Date: Nov 2004
Location: Caveville, Neanderthallande
Drives: 2007 black KIA Spectra EX. Have club, will travel.
Posts: 8,947
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Re: GM hit with investor lawsuit
One who should be leading the charge in this lawsuit: That stupid old hag who sued McDonald's because her hot coffee was hot and she was stupid enough to spill the hot coffee in her skinny ass old lap, and then she was flabbergasted to discover that her coffee was hot. That event and the subsequent successful
 lawsuit should be in the dictionary under "duh." Anyone who takes stock (pardon the pun) in projections by corporate or by government bodies should be given a psychiatric evaluation with a 72 hour commitment to a mental institution. And whatever happened to prosecuting people who abuse the legal system, not to mention public floggings and summary executions? Just wondering...
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The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance. Cicero (106 BC - 43 BC), 55 BC |
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Re: GM hit with investor lawsuit
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