GM Stock
Safety Car
Joined: Jul 2001
Posts: 4,456
Likes: 6
From: Spicewood, Texas, USA TX-Texas
Le Mans Master
Joined: Aug 2004
Posts: 6,412
Likes: 1,296
From: Bluffton, SC
In bought the stock at around $21 and am up considerably on my purchase. I bought it as a long term investment and have no intention of selling it any time soon.
I think the stock is a good long term hold.
I think the stock is a good long term hold.
Race Director
Joined: Oct 2004
Posts: 10,089
Likes: 14
June 5 (Bloomberg) -- General Motors Corp., the largest U.S.
automaker, is making ``major progress'' after losing more than
$12 billion in the last two years, the automaker's top executive
told investors today.
GM improved its liquidity, increased manufacturing
efficiency and boosted revenue by cutting incentives and lower-
profit sales to rental-car companies, Chief Executive Officer
Rick Wagoner, 54, said at the Detroit automaker's annual meeting
in Wilmington, Delaware.
automaker, is making ``major progress'' after losing more than
$12 billion in the last two years, the automaker's top executive
told investors today.
GM improved its liquidity, increased manufacturing
efficiency and boosted revenue by cutting incentives and lower-
profit sales to rental-car companies, Chief Executive Officer
Rick Wagoner, 54, said at the Detroit automaker's annual meeting
in Wilmington, Delaware.
Wagoner also said the scope of issues involved in a plan to
help its former auto-parts unit Delphi Corp. emerge from a 20-
month bankruptcy is narrowing and that he has growing confidence
there'll be an agreement.
The CEO also said GM remains interested in a stake in
Malaysia's unprofitable carmaker Proton Holdings Bhd. Such a deal
would further lessen GM's dependence on the U.S., which now
accounts for less than half of its global sales.
help its former auto-parts unit Delphi Corp. emerge from a 20-
month bankruptcy is narrowing and that he has growing confidence
there'll be an agreement.
The CEO also said GM remains interested in a stake in
Malaysia's unprofitable carmaker Proton Holdings Bhd. Such a deal
would further lessen GM's dependence on the U.S., which now
accounts for less than half of its global sales.
Wagoner is under pressure to increase sales, which have
fallen each year in the U.S. since 1999, while Toyota threatens
GM's 76-year reign as the world's largest automaker.
In the first quarter, Toyota passed GM in global sales for
the first time. And the Toyota brand this year has overtaken GM's
Chevrolet to rank No. 1 in the U.S. Wagoner said today that the
battle for global sales will continue ``quarter by quarter'' and
he has yet to concede GM will be passed this year by Toyota.
fallen each year in the U.S. since 1999, while Toyota threatens
GM's 76-year reign as the world's largest automaker.
In the first quarter, Toyota passed GM in global sales for
the first time. And the Toyota brand this year has overtaken GM's
Chevrolet to rank No. 1 in the U.S. Wagoner said today that the
battle for global sales will continue ``quarter by quarter'' and
he has yet to concede GM will be passed this year by Toyota.
``For 2007, we're building on and accelerating our
progress,'' Wagoner said. GM will continue working to cut health-
care and labor costs in North America and increase sales outside
the U.S.
progress,'' Wagoner said. GM will continue working to cut health-
care and labor costs in North America and increase sales outside
the U.S.
As part of the environmental initiative, Wagoner said the
automaker has awarded battery-research contracts for a future
electric-car system to Michigan-based Compact Power Inc., a
subsidiary of South Korean manufacturer LG Chem Ltd.
automaker has awarded battery-research contracts for a future
electric-car system to Michigan-based Compact Power Inc., a
subsidiary of South Korean manufacturer LG Chem Ltd.
Wagoner has been busy reducing value by cutting profitable operations, buying up unprofitable operations, decimating the company's most valueable resource, its people, selling off the profitable GMAC, etc, etc, etc.
Instructor
Joined: May 2007
Posts: 172
Likes: 0
From: Boise Idaho
I love my vette..I have Porsche also..but GM does some dumb things..however I would bet that the Corvette is one of the most profitable and stable. It is the only division they haven't messed up..
Thread Starter
Instructor
Joined: Mar 2005
Posts: 214
Likes: 1
From: San Diego CA
Yes I definately wish that I had held my stock. I sold it Monday for around 31.75. (~$2000 mistake) But, there is no way I would have seen that news from Delphi. I would say live and learn but there is not much to learn by. Much of trading is luck.
Safety Car
Joined: Jul 2001
Posts: 4,456
Likes: 6
From: Spicewood, Texas, USA TX-Texas
You can anticipate the future movement of a stock (and the markets) assuming the status quo remains...but it never does remain the same...you must have plans in place to address change, and not depend on LUCK. If your trading/investing depends on "LUCK", then you in the same league as blackjack and roulette players.
BTW, you're still leaving money on the table...at this time, GM is up another 2.75% (34.53, high so far today is 35.00). But here's the deal...greed tells you "Man, I could be up $2000-$3000 if I had just held!!!"; But, if it had gone the other way, you would be far better off to take taken your little profit, than let greed cause you to ride it down into the dirt. Been there; done that.
