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http://www.cnbc.com/id/27100742

The news concerning GM keeps getting worse and worse by the day. I think it is time for Rick Wagoner to go. He has lead GM to the largest drop of market value of any company in the Fortune 500.
 

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Re: GM Shares Near 60-Year Low

In for $500. :) :D
 

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Re: GM Shares Near 60-Year Low

I've just started buying GM - to keep.:)

Fully intend to ride it out with them until ......a very theoretical .... at this point, .....2012 - 2015.

Also fully expect things to get much worse before they get better - if they do.

If they don't, it won't really matter much.

Late add: ...and Ford.
 

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Re: GM Shares Near 60-Year Low

As long as GM its able to pay the bills they will not have to file for bankruptcy even if the shares hit $4.00, what I wonder wouldnt it be cheaper for the company to buy itself for 2 billion, I hope the Ford family decide and buy the outstanding shares of Ford if the the market cap hits 3 billion
 

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Re: GM Shares Near 60-Year Low

http://www.cnbc.com/id/27100742

The news concerning GM keeps getting worse and worse by the day. I think it is time for Rick Wagoner to go. He has lead GM to the largest drop of market value of any company in the Fortune 500.
I agree he isnt the best for GM, but in this economy I don't think there are many out there that can do better. I don't think the timing is good to let him go.
 

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Re: GM Shares Near 60-Year Low

I agree he isnt the best for GM, but in this economy I don't think there are many out there that can do better. I don't think the timing is good to let him go.
The timing is never good to let him go. GM has been in more or less of a non-stop crisis for the last few years.

That's a bad excuse to keep him on. You can't just watch the stock tumble and not replace the head out of fear.

I think a leadership change, while Rick might be doing the best he can, would be good for morale. A Steve Jobs type of "cool" messiah for a fresh, new GM. A British Petroleum name changer like Greater Momentum for PR purposes.

That said, I wouldn't want any old "Joe Six Pack" dime-a-dozen CEO to replace him --- his replacement, if there is one, needs to be really, really good.
 

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Re: GM Shares Near 60-Year Low

As long as GM its able to pay the bills they will not have to file for bankruptcy even if the shares hit $4.00, what I wonder wouldnt it be cheaper for the company to buy itself for 2 billion, I hope the Ford family decide and buy the outstanding shares of Ford if the the market cap hits 3 billion
I know that Chrysler is private and supposedly doing well. But what real advantage would there be to GM going private?
 

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If you think the current situation is all Wagoner's fault and that getting rid of him will immediately remedy it, you're either delusional or have a personal vendetta. The downfall started decades ago and has snowballed since. Wagoner is just the current captain of this Titanic, while others before him pointed the ship directly at the iceberg at full speed.
 

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Rick and Lutz at their best. Producing outstanding results. now all of you rick and lutz supports buy same gm shares mabye you will be broke too.
Lets look at results.
11 years or rick and 11% of market share loss.
Billions of dollars lost
Thousand of employees gone
GM Market cap. Around 3 Billion.
People do not want hybrids they are joke
People do not want small cars.
People would not buy small cars unless fuel price is $8 per gallon.


With that attitude i am suprised gm is still in business. LOL and they are some people who this he is doing a good job. You have to be brain dead to ignore these facts and say that he is doing a good job.
 

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Re: GM Shares Near 60-Year Low

The timing is never good to let him go. GM has been in more or less of a non-stop crisis for the last few years.

That's a bad excuse to keep him on.

That said, I wouldn't want any old "Joe Six Pack" dime-a-dozen CEO to replace him --- his replacement, if there is one, needs to be really, really good.
Although with those two at the helm, they have managed to turn around GM's product portfolio and sign a massive concessionary contract from the UAW. Those are two things that no GM management team has been able to accomplish in 30 years. How would any one else handle the worst economic crisis this country has seen since the 1981 recession? Probably just as poorly if not worse.
 

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If you think the current situation is all Wagoner's fault and that getting rid of him will immediately remedy it, you're either delusional or have a personal vendetta. The downfall started decades ago and has snowballed since. Wagoner is just the current captain of this Titanic, while others before him pointed the ship directly at the iceberg at full speed.
While there is some truth in that post BUT you fail to note
1) Rick has been in charge of the Titanic for more then 10 years now and has been only making major positive course corrections for the last 2 or three years and
2) Before that (for 7 years) he was the CFO... the head finance guy... To continue with your Titanic analogy... that would make him the first mate or the chief navigator...

So for 17+ years our fearless leader did next to nothing to point the ship in a safe path.

BTW GM is not the Titanic... according to Rick we are Soaring to new heights!
No we are not the Titanic... We are the Hindenburg.
(shamelessly stolen from Cobert)
 

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Re: GM Shares Near 60-Year Low

At what level would GM file for bankruptcy protection?
Share price has little to do with bankruptcy... Bankruptcy will occur if/when GM can not pay short term liabilities when they come due.. At GM's current "cash" burn rate this won't happen for about another 10 months.

Share price IS an indication of future worth of this company...
Which the majority of investors feel is not too much.

Of course if GM does declare then the share price will drop very quickly to zero.
 

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Re: GM Shares Near 60-Year Low

The timing is never good to let him go. GM has been in more or less of a non-stop crisis for the last few years.

That's a bad excuse to keep him on.

That said, I wouldn't want any old "Joe Six Pack" dime-a-dozen CEO to replace him --- his replacement, if there is one, needs to be really, really good.
What I am saying is that everyone is in a downward trend and I think this is beyond control of most any CEO. I doubt a replacement at this economic time would be able to do any better. In fact, I would be more confident in Rick during this economic crisis becuase at the very least he can move metal with the best of them with promotions that have proven to work. In this day, they need to move metal first and everything else is 2nd. What choice do they really have:confused:

I agree that Rick needs to leave at some point as he hasn't managed the company very well and he is screwing up a few divisions big time! But I will standby that now is not a good time for him to be overthrown. I am sure most will disagree.
 

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http://www.cnbc.com/id/27100742

The news concerning GM keeps getting worse and worse by the day. I think it is time for Rick Wagoner to go. He has lead GM to the largest drop of market value of any company in the Fortune 500.
Again, please listen carefully.
This is a global financial crisis, not the "I hate Rick show"
The turn around plan that was implemented to correct his (AND the board of trustees) WOULD HAVE been working if the real estate broaakers and wall street morons wouldn't have gotten so greedy and F%[email protected]#&**^%^ up the economy!

RW did not cause the market to crash or force foreign countries to buy BAD PAPER.

Please keep up.
ALL STOCKS ARE FALLING
THE DOLLAR IS STRENGTHING
GIVE IT TIME. I will be buying GM very soon to put my money where my mouth is! When the time is right! (Probably tomorrow or Monday!)
 

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Again, please listen carefully.
This is a global financial crisis, not the "I hate Rick show"
The turn around plan that was implemented to correct his (AND the board of trustees) WOULD HAVE been working if the real estate broaakers and wall street morons wouldn't have gotten so greedy and F%[email protected]#&**^%^ up the economy!

RW did not cause the market to crash or force foreign countries to buy BAD PAPER.

Please keep up.
ALL STOCKS ARE FALLING
THE DOLLAR IS STRENGTHING
GIVE IT TIME. I will be buying GM very soon to put my money where my mouth is! When the time is right! (Probably tomorrow or Monday!)
To be fair, other companies from GM, Sony, Dell, etc benefitted from Wall Street's greed... Your average Joe was given the tools to buy Tahoes, 50" plasma TVs, super computers every year on their home equity line of credit.

Now that the economy is going down the drain, all corporations are going to have to ride it out, and business going forward will reflect reality - buy what you can afford and when you need it.

However, I will disagree with your point that the turn around would have worked if it wasn't for the economy. We all saw what happened to the profitable truck sales when the price of gas went up. What does GM do to address this? Release the new Chevy Traverse, make the Equinox bigger and promise everyone that the better Cobalt - the Cruze - will only come later. I'm sorry, but GM management has continuously poured money into it's big truck portfolio, with the belief that gas was always going to be cheap and relied pretty much on trucks as a revenue generator.

No government will let GM die. I'm going to seriously consider buying some GM stock when the economy starts to improve (most likely in 2010).
 

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While there is some truth in that post BUT you fail to note
1) Rick has been in charge of the Titanic for more then 10 years now and has been only making major positive course corrections for the last 2 or three years and
2) Before that (for 7 years) he was the CFO... the head finance guy... To continue with your Titanic analogy... that would make him the first mate or the chief navigator...

So for 17+ years our fearless leader did next to nothing to point the ship in a safe path.

BTW GM is not the Titanic... according to Rick we are Soaring to new heights!
No we are not the Titanic... We are the Hindenburg.
(shamelessly stolen from Cobert)
Think back a little farther, at least another 17 years. The '70s and '80 sent a lot of people packing for foreign makes. Who was in charge then? Who made the product plans so out of touch with the American public? Who set up the continental operations as basically separate companies with little to no cost-sharing? Who gave the UAW an outlandish benefit package? Not Wagoner. Yeah, it'd be nice if the turnaround plan had been implemented sooner, but it would have been a hard sell to the UAW when they were still pulling in 2 or 3 billion in profit.
 

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Again, please listen carefully.
This is a global financial crisis, not the "I hate Rick show"
The turn around plan that was implemented to correct his (AND the board of trustees) WOULD HAVE been working if the real estate broaakers and wall street morons wouldn't have gotten so greedy and F%[email protected]#&**^%^ up the economy!

RW did not cause the market to crash or force foreign countries to buy BAD PAPER.

Please keep up.
ALL STOCKS ARE FALLING
THE DOLLAR IS STRENGTHING
GIVE IT TIME. I will be buying GM very soon to put my money where my mouth is! When the time is right! (Probably tomorrow or Monday!)
Let's go back 10 years on this and compare GM to the DOW
http://finance.google.com/finance?c...INDEXDJX:.DJI&cmptzos=-18000&q=NYSE:GM&ntsp=0

This isn't just "stocks falling"
 

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The recent activities in the stock price have little to do with GM's viability, and more to do with the complete lack of consumer confidence and lack of credit liquidities in the markets. In a market meltdown like this, investment banks and hedge funds reverse the way they do business, which assists the downturn. Instead of putting money into long positions in stocks and securities, they sell out of stocks and securities, pool as much cash as possible, and/or start to short as many stocks as possible. The short ban also lifted today, which GM was part of the banned list, and many people apparently couldn't wait to short GM. If there is any kind of rally soon, the shorts will have to cover, and the stock will probably go up triple digits.
 
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