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Thread: Round II?

  1. #19
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    Default Re: Round II?

    Quote Originally Posted by quinn14 View Post
    I could be wrong about this, like I've said before, I don't know much about wall street. But, if I buy a bunch of stock at $33 a pop and it is now worth $22, doesn't that mean that I have just lost a whole bunch of money? How is that good for someone's 401k or IRA?
    That a hazard of investing. Stocks go up and down. Just because a stock price is not at its highest point doesn't mean the company is doing poorly.

  2. #20
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    Default Re: Round II?

    Quote Originally Posted by Flop The Nuts View Post
    Ford is doing pretty well and they didn't take any government money. GM and others would probably doing just as well if they had gone through bankruptcy instead of taking billions of taxpayer dollars and screwing the bondholders out of the money they were due. The auto industry hasn't come close to giving back the money that was used to prop them up, how is this a good deal for the U.S. taxpayer?

    I'd be doing a lot better now if the government gave me millions of dollars, but that doesn't mean it's the right way to do things.
    Hard to say what would have happen without the bailout. Many people thought the the GM & Chrysler is in so much trouble that they might not have emerge from bankrupcy.

    If you believe that manufacturing, especially auto manufacturing, is a critical part of the economy and thousands of other jobs would have been lost at suppliers and related industries, then maybe it was not such a bad deal for the US.

    I personally have mixed feelings about all of the bailouts...In principle I am opposed to them, but they seem to have served their purpose, especially with the banks.

  3. #21

    Default Re: Round II?

    Quote Originally Posted by Flop The Nuts View Post
    More to the story than just the headline. The government invested $60 billion in GM and now expects a loss of around $24 billion from that investment. GM is able to write off about $45 billion in previous losses going forward. Much more in the linked article. I would hope with that kind of help from the government that things would be looking good for the company. How's it look for the taxpayer?

    Like I said, if the government gave me a million dollars then my personal balance sheet would look great, especially if I only had to pay back a little over 1/2 of it.

    Treasury Admits What Everybody Already Knew: Taxpayer Losses On GM Bailout Are Going to be Massive - Hit & Run : Reason.com
    I wonder why the car companies' sales are up then?
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  4. #22

    Default Re: Round II?

    I'm thinking fuel costs are driving customers to purchase more efficient cars and auto finance companies have softened their credit requirements to allow more qualified applicants contribute to it.

  5. #23

    Default Re: Round II?

    Quote Originally Posted by ban basketball View Post
    I wonder why the car companies' sales are up then?
    Because people want to buy new cars?

    I personally am driving my first (and last) GM car, I'm going back to BMW within the next few months. I used to hate my wife's Lexus but now I'm in love with it after driving a Tahoe for a few years. The only time I enjoy that vehicle is when I have to lug a bunch of ridiculously large kid-crap around, every other time I sit in the driver's seat wistfully remembering the good old days with my 740. I'm tearing up right now just thinking about it.

  6. #24

    Default Re: Round II?

    Don't get me wrong. I believe PRIVATE individuals can do whatever they want with their money. It's financial institutions betting on companies to fail, and using other people's money to do so, that raises a huge moral question for me. It should be illegal.
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  7. #25

    Default Re: Round II?

    Quote Originally Posted by ODH View Post
    That a hazard of investing. Stocks go up and down. Just because a stock price is not at its highest point doesn't mean the company is doing poorly.
    Then why do people get so irate about wall street losing money? If it's just a hazard of investing, what's the big deal?

  8. #26

    Default Re: Round II?

    Quote Originally Posted by Flop The Nuts View Post
    Because people want to buy new cars?

    I personally am driving my first (and last) GM car, I'm going back to BMW within the next few months. I used to hate my wife's Lexus but now I'm in love with it after driving a Tahoe for a few years. The only time I enjoy that vehicle is when I have to lug a bunch of ridiculously large kid-crap around, every other time I sit in the driver's seat wistfully remembering the good old days with my 740. I'm tearing up right now just thinking about it.
    Yes, but in post # 18 you said this, "I would hope with that kind of help from the government that things would be looking good for the company...Like I said, if the government gave me a million dollars then my personal balance sheet would look great."

    If car sales are indeed up, which they are Auto Sales - Markets Data Center - WSJ.com, it appears to me that there's a bit more to their balance sheets than just government money, right? It looks to me that the car companies are not failing, but, rather, selling more cars, which is a sign of an improving industry, right?

    Maybe there wasn't too much more to the headline that I posted?
    Last edited by ban basketball; 05-17-2012 at 09:52 AM.
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  9. #27

    Default Re: Round II?

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