JohnnyTuinals

I was just watching CNBC
Standard and Poors down graded GM again,and they say
GM might not be around in 2009.
Standard and Poors says GM has little or no capital.
The stock has a all time low of $4.80.........

I hope to see a 2010 Camaro SS but as I see their stock Downfalling.
I think most of the major credit ratings are right.....

I know many people on here says that the bailout will help,,,,They will not see any of that money for months.

I can believe he economy is going to hell.
Nobody is buying cars
And they will not even loan you the money....

You will have to be nuts to put a deposit on any car,once the dealer is gone so will be your money.....

I would hope GM would be doing better but it looks like they are doing worst then Ford........
I will not get my hopes to high to see a Camaro SS,,,gee I wanted to get a Black SS but it does not look good......Just keep watching CNBC and Bloomberg and you will see the end is near as they are saying.......

Maybe the Challenger Rt will be the last Muscle car built

ChrisFrez

More doom and gloom - geez, you sure are depressing!

I think this is the perfect opportunity for me to buy MORE GM stock!

FactoryZ

A la Kirkorian.

2010_5thgen

im buying gm stock.
GM will never go out of business!!!

JohnnyTuinals

I am really not a doom and gloom person.....
I just see whats happening in the market and it does not look good.
I am hoping to see a 2010 Camaro SS in my drive way next march,,,but
it really looks bad for GM..
I would think the first would fall is Dodge and then Ford,,,but who would think GM????
My friend said that the Goverment will not let GM fail.
But if the goverment saves them then the Goverment will have to save the Airlines,Boing among everyone else...I think the Goverment will not step in this time.....
Why rush out and buy stock?????It will only get lower.
I want GM to survive because I have lots of GM Credit Card miles to use.
Just watch Cnbc or Bloomburg and you would think the world is falling.

ChrisL

The press has never exactly been favorable to any of the domestic manufacturers the past 10 years, but that being said, things are BAD BAD BAD for them.

All the negativity doent help. Like how the US makers were chastised for their emphasis on the truck segement... but no mention of the huge investment Toyota made to go after the US companies market share in trucks the past 2 years. Anyone remember how many Tundra commercials Toyota ran during the Super Bowl.

Unfortunately, we are paying for the greed of a few in Wall Street. I really hope Congress and DOJ can get to the bottom of it and hold those few responsible. This is 20x's worse than the Enron and WorldCom fiasco of a few years ago.

DAKMOR

Well, if production started already, i'm sure what they have can be sold off by the banks that GM files to.

GSS9909

GM will be fine. did you happen to look at stocks or just listen to what the media says? If you did look you would see that toyota and honda are also down about 20% and ford stock is down to $2.60. Plus the reason stock goes down is that people are selling the stock. I just wish I had some money right now to buy up some gm and ford stock. They will both go back up. It is time to buy.

JohnnyTuinals

Why blame wall street
Look at Europe and asia,their banks are also going out of business.....
Somethings wrong
When a stock gets this low from a big company,that means they are going to have a problem

Evotion

I am hardly market savvy, but I do have money tied up in the stock market, and have for the last 20 years or so.

The key here is long term. If I were to look at my portfolio over the last 3 months I would probably have a heart attack. But compare it to 3 yrs ago and it is still higher. The point is, this will eventually work itself out it may take a few months, even a year. Once the feds decide how are are going to handle the millions of bad mortgages that sunk our country it will be fine.

As for GM... have faith. Every company is losing value right now, and they are all waiting to see what will happen. But until then it is business as usual, and I fell confident they are moving forward. If not we might be seeing something like:

"The new Chevy Camaro, 40 mpg... powered by Toyota"

JohnnyTuinals

I am glad to see someone that looks at the future.
You are right,,,,sometime in 2009 the economy will turn around.
But you have many big companys that have gone out of business or their stocks will never be as high as they were.
Wasinton Mutual
Wachovia
Lehman Bros
AIG bear starns,,,,among many others that went of of business.
I would hold off in buying any stock now,,,and see what happens
in the next few weeks

I do want a 2010 Camaro SS Black,Manual Trans 20 inch wheel,,,,Geee
Hope to get it

2lane69

Jeez dude, have you posted a topic yet that doesn't regard the sky falling?

Admin, can you rename this cat Chicken Little? WTF.

I've often heard that the stock market is the only place where nobody likes a sale!!!!

polo3433

Look it will take an asteroid to hit all GM assets in order for them to not produce the Camaro. GM said time and time again they have enough money at least for another 10 months even if they don't make a dime for now to the end of the year.

Evotion

Absolutely correct about those companies... but they all have something in common, and nothing in common with automakers.

That being said I did read something interesting after my first post:



By BREE FOWLER, AP Auto Writer
22 minutes ago



NEW YORK - Shares of General Motors Corp. and Ford Motor Co. plunged in the waning minutes of trading Thursday, after Standard & Poor's Ratings Services placed their credit ratings under review for possible downgrade.

S&P said the moves reflects the weakening automotive markets across the world and expectations that tight credit markets will make for a rocky road ahead.

GM shares plummeted $2.26, or 33 percent, to $4.65 before edging back up slightly to close at $4.76, helping drag the Dow Jones industrial average down by more than 600 points to their lowest level in five years.

Thursday's low point marked the Detroit-based automaker's lowest share price since March 15, 1950, according to the Center for Research in Security Prices at the University of Chicago.

Thursday also marked the GM's sixth straight day of losses. The automaker's shares are down 50 percent from their close of $9.45 at the end of September.

Meanwhile, Ford shares fell by as much as 63 cents, or 24 percent, to $2.03 late in the session before rebounding slightly to close at $2.08. The Dearborn, Mich.-based automaker's shares hadn't fallen that low since June 1, 1983, according to the Center for Research in Security Prices.

The center's historical prices are adjusted for splits and other changes.

The ratings being reviewed by S&P include the "B-" long-term corporate credit ratings for both Ford and GM, along with the "B-" long-term counterparty credit ratings for the two companies' respective financing arms, GMAC LLC and Ford Motor Credit Co. The ratings already indicate the companies' debt is below investment grade.

S&P said it believes both automakers have enough cash for at least the rest of 2008, but rapidly worsening industry conditions will make things tough for them in 2009.

Analysts have voiced concerns in recent days that the ongoing slump in U.S. vehicle sales could last longer than they previously expected and could spread to other parts of the world, particularly Europe.

J.D. Power and Associates said Thursday that it now expects U.S. new vehicle sales to total 13.6 million units this year and 13.2 million in 2009.

The company had previously projected 2008 sales of 14.2 million units and 2009 sales of 14 million units. Last year, U.S. sales totaled 16.1 million units.

The company also forecast a slow down in vehicle sales growth in both China and India, along with a drop in European vehicle sales.



Guess all we can really do is ride it out and wait and see.

JakeRobb