GM is dying. Dow down ~-303. Oil $140+ n/t

[Subdivisions]

[texasleo]

1. I'm sure it's because of "unions" and "environmentalists."

:sarcasm:

[baldguy]

4. and not because they sell humongous, inefficient vehicles that nobody wants to buy.

The irony is, they could have been on another track entirely for the last ten years...

[Kolesar]

14. I will look elsewhere for real analysis...eom

[JerseygirlCT]

16. Humongous cars and trucks no one wants to buy

and not even good ones.

If other makers are making better machines, then so be it. See ya, GM.

[SharonAnn]

20. It's those and other bad Management decisions. Management sets the course.

Management sets the priorities. Management decides what to invest in and what to produce.

Unions don't get a say in these issues.

Oh, and management makes sure that their pensions, health care, etc. are fully funded and that they'll be covered even if GM goes under.

[Psephos]

2. This will be happy news for many here

Not for the people whose lives depend on working there, though.

[tabasco]

11. If you hate it here so much, go away.

I haven't seen a lot of people at DU happy when a US company fails.

Seems to me you just can't tolerate criticism of the idiot CEOs who ruin these companies or the inferior products which they offer.

If you can't handle the truth, that's tough for you.

[Psephos]

19. Where did I say I hate it here? I like it here. You're projecting.

And what's that about the "truth" you mentioned? You seem like one of those people for whom the "truth" is pretty much whatever they feel. Goes hand in hand with the all-outrage, all-the-time treatment of anyone who doesn't think...exactly...like...you.

:party:

[JerseygirlCT]

17. No, it sucks for them, for sure

But is that reason to keep a bad business afloat?

[whistle]

3. Five day loss of DJIA over 500 points

[lpbk2713]

5. As GM goes, so goes the nation.

BushCo has destroyed this country with their plundering and pillaging to such a state that we might just have to start all over again.


I have to wonder if that is really such a bad thing some times. :shrug:

[wurzel]

6. This is the way Republicans pay for their tax cuts.

The fantastic decline of the dollar due to Bush's tax cuts is the reason this country's entire economy is in free fall. Republicans always cut taxes. The cost is always passed on to American workers in the form of a declining dollar. There is no free lunch!

[tabasco]

7. That calls for a big bonus for the CEO!!

Until the corrupt CEO class is dismantled, American industry will not be able to compete.

It is quite revealing that Fiorina is considered a VP possibility, even after failing at HP. There is no accountability in the corrupt CEO class or the corrupt republican party that works for them.

[keep_it_real]

8. GM carries a big health care bill for their employees.

It's hard to compete with Japanese care makers who don't have to pay for workers health care since the Japanese have free health care.

[DJ13]

9. H&R Block now has a higher marketcap than GM

H R BLOCK INC
(NYSE: HRB)

Market Cap: 6.73B


http://finance.yahoo.com/q?s=HRB




GEN MOTORS
(NYSE: GM)

Market Cap: 6.51B

http://finance.yahoo.com/q?s=GM

[Subdivisions]

10. Kick. Oil now heading to $141. Pundits saying could see $150 today or tomorrow. n/t

[keep_it_real]

18. It's the speculators in the stock market that is driving the price of oil

There is plenty of oil; maybe not they many refineries.

[Subdivisions]

21. Uh, no there isn't "plenty of oil". Oil production has been on a

2% decline since May of 2005. Meanwhile, demand since then has skyrocketed. Supply and demand are now detached.

You really should do your research before you say something so naive.

[underpants]

12. GM (11.43) is lowest since EISENHOWER administration

http://articles.moneycentral.msn.com/Investing/Dispatch/080626markets.aspx

[aint_no_life_nowhere]

13. It's a matter of supply and demand

But I'm not talking about petroleum. I'm referring to the supply and demand of good investments. As the rest of the stock market erodes and our economy erodes, investors have a demand for safe investments for their money. Petroleum futures and other commodities seem to be the safest bet for them now. Investors are bidding the price of oil up because there seems to be no ceiling in sight and it's a great ride for them and demand for oil futures is high. To me, that's the major supply and demand issue going on right now.

[Kolesar]

15. I think the market for automobiles is going to suffer because people drive less

People have already decreased their discretionary driving (just cruisin') and driving has decreased 4%. More and more people are going to be totally out of motoring for that matter. Why would a college student have a car when they live on campus? Why have multiple cars when you are retired?

[Blue_Tires]

22. Ford and Chrysler not much better, either

[Danger Mouse]

23. The employees and their families will be the ones who suffer over this...

while the executives that drove it straight into the ground will take their piles of cash straight to the bank and find another company to fuck over.