Any faith in the US Auto Industry??

[tek2977]

I have been considering buying GM and or Ford stock....now I am very aware of their problems and the current credit crisis and the clcok is ticking on GM but dare I have some faith that the govt wont allow GM to fail considering they employ over 100000 people.

Not to mention, the Volt is the first step in having some American ingenuity to solve this oil/climate issue....

Considering its only 5 dollars a share, considering buying and holding for a long time.....I feel GM could weather this storm, will definately take some help from the Feds and a GREEN direction

 

[asufan550]

Fuck and No.

 

[PercocetThreat]

I second that, hell no.

 

[EasyMoney]

most of my family are retired GM workers and I will say hell no. These companies are both shit and will be for years to come. They were both crap years ago when the rest of the ecomomy was booming. The foreign auto makers are kicking U.S. butt.

But on the bright side I get to buy GM cars at a big discount.

 

[BASEHEAD]

I have been considering buying GM and or Ford stock....now I am very aware of their problems and the current credit crisis and the clcok is ticking on GM but dare I have some faith that the govt wont allow GM to fail considering they employ over 100000 people.

Not to mention, the Volt is the first step in having some American ingenuity to solve this oil/climate issue....

Considering its only 5 dollars a share, considering buying and holding for a long time.....I feel GM could weather this storm, will definately take some help from the Feds and a GREEN direction

Ford has a much better shot at rebuilding IMO.

Both will survive but to me one seems to be ahead of the other as far as restructuring.Kerkorian dumped a shitload of Ford stock at a huge loss recently but IMO he did this to stop the bleeding of other investments hes been getting beat on,namely MGM.

No quick money to be had in this sector but long haul theres some value.

http://www.signonsandiego.com/news/business/20081010-1413-ford-mulally.html

Ford got the loans for restrucuring early on (2006) and took on amounts that exceeded their expected needs.Theyve been selling off alot of the brands and continuing thier cost cutting.

 

[sm.time.gmblr]

If you must ford is our better bet. G has to much wrapped up in credit and associated derivatives. Ford has less exposure in this area and has aggressively restructured. Is also looking to sell a lot if not all stake in certain brand.

 

[BranFlakes]

GM burning up a billion dollars per month with 22 billion on hand. Do the math, you might not have to hold the stock long before it becomes worthless. Healthcare costs are killing them. JMO.

 

[Jetplane]

F

 

[Redfoot]

Dog with fleas.

 

[ivyconniver]

Neither of these companies will survive until they cut their pensions, medical burden, and reduce or eliminate the labor unions.

Stay away.