Automotive News, Media & Press - Top GM execs sell off their stock; bankruptcy looming

http://money.cnn.com/2009/05/12/news/companies/GM_execs_sell_stock.reut/

Lutz sold off ~80,000 of his own shares.

I love GM but why are tax payer dollars going to bail out a company that's going to go bankrupt no matter what? Meh.

Well if your stock was about to be worth a penny after the government 'deal' what would you do?

GM = the next Yugo.

Bankruptcy is the best thing for GM . Give them an oppurtunity to restructure and get out from underneath all that bad det thats been killing them for years. Hopefully their quality will skyrocket now after so many years of crap

^^^ I'm sorry but I have to disagree with that thought. Especially not at the expense of taxpayers as Chrysler is not required to pay back our money. And it seems GM won't be held to their loan contract either.

I hate to say it, but bankruptcy really is the best choice. that stupid union crap killed them amongst other things

Unions are the reason why GM pays to have medical for there workers...


It should be provided for us by the government not a fucken company


Thats the best reason to have a union around, give the people medical and there really isnt a reason to have them

I read on Jalopnic yesterday that one of them sold stock that a couple of years ago would have bill 10 million, and when they sold it was something like 450,000.
OUCH

WTF would buy their stock now?

If it goes any lower i was thinking about buy a few hundred shares :lol: Then when they bounce back and their stocks skyrocket i'm rich :eyes:

There's a few members on here that have quite a bit of stock... hope it all works out! :eek:

Unions are the reason why GM pays to have medical for there workers...The lugnut putter onner dude makes $70+ an hour after bennies???!!???


It should be provided for us by the government not a fucken company
Aren't you paying enough in taxes yet, buddy????


Thats the best reason to have a union around, give the people medical and there really isnt a reason to have them
Aw Jeez... Nobody at the Toyota, Honda or Hyundai plants have Medical?




Everybody gets a pie... I'd rather slice mine up for myself (non-union) than have somebody (union... Gov't...) doing it for me...

Look at the banks... Now that the gov. is in their pockets they call the shots.... And banks can't return the funds!

GM= Gov't. Motors...

The day after they come out of restructuring (bankruptcy)... I'll buy stock.... A lot.

^^^ I'm sorry but I have to disagree with that thought. Especially not at the expense of taxpayers as Chrysler is not required to pay back our money. And it seems GM won't be held to their loan contract either.

IF(when) GM files they won't be held to their contract either.... for the same reason Chrysler won't.... tax payers are standing last in line.

The bankruptcy is only being filed to bring holdout debt holders in line.

Worse yet... the bankruptcy won't change much in regards to taxpayers.... the US Treasury is loaning Chrysler/GM more $$$$$$$$$$$$$ during the bankruptcy and post bankruptcy.

Lastly, IF the bankruptcy plan works.... if the debt holders accept.... the UAW is going to wind up owning major shares of GM/ Chrysler.

Frankly.... I can't envision WHY debt holders would be willing to accept a disproportional shares for their debt vs the UAW.

GM's 52 week high is 21.37 and today it closed at 1.09. So, if you invested $1,000 a year ago and sold today you are left with $51.

How long is it going to take for some of you to figure out that the money the government used to bail out the banks, the auto industry etc isn't really tax payer money....but money borrowed from other countries...ie China.

To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.

Unions are the reason why GM pays to have medical for there workers...


It should be provided for us by the government not a fucken company


Thats the best reason to have a union around, give the people medical and there really isnt a reason to have them

Well I disagree bout the union part but agree with ya totally on us funding our own health care as a country rather then laying the burden on companies. Thats a huge reason why they cant compete with the other automakers

GM's 52 week high is 21.37 and today it closed at 1.09. So, if you invested $1,000 a year ago and sold today you are left with $51.

Now look up the 5 year............:barf:

How long is it going to take for some of you to figure out that the money the government used to bail out the banks, the auto industry etc isn't really tax payer money....but money borrowed from other countries...ie China.

To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.

I think everyone here knows that.... but they also know that the US government borrowing all that $$$$$$$$$$$ is not a good thing. The interest on the debit alone is astronomical. :( Eventually... we will HAVE to start making changes that will allow for the reduction/repayment of that debit.... or either everyone's taxes are going to go UP!!!!!!!!!!!!!!!!!!!!!!!

Of course our current debt problems are NOTHING in comparison to the $53 Trillion of unfunded entitlement programs. :eek2: These unfunded programs will HAVE to be reduced and some simply eliminated.

How long is it going to take for some of you to figure out that the money the government used to bail out the banks, the auto industry etc isn't really tax payer money....but money borrowed from other countries...ie China.

To get a deficit the size of the USA's you borrow from other countries...tax payer money is only a small percent of the money the US Government spends every year.



NOW YOU KNOW WHY WE LET CHINA IMPORT ALL THAT SHIT HERE.....
So they will CONTINUE to buy our debt.....