The Ridgewood $tock Exchange, John R. Daly, CEO
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2 Comments:
I think GM stock is in trouble for two reasons: 1. Profitable SUV sales are down due to high fuel costs and 2. The Delphi bankruptcy.(a GM company that is debt ridden also)
Will GM recover? Maybe this is the last gasp of the first of the USA's Big Three to finally bite the dust. Is GM dead and no one there knows it yet?
I am glad my dad retired from GM but I am worried that they will conitinue to pay his pension.
Pensions, that would have been number three- high pension cost going nowhere but up!
I am not buying any GM anytime soon. I hope my fund managers already dumped it all!
I agree with Fred. I will have to take a closer look at GM but with the current competition, and gas prices still hovering near $3 per gallon, SUV sales have taken a huge hit. In addition, starting in 2006, the government is beginning tax credits for hybrids which may further diminish demand for the gas guzzlers. Hybrib cars are generally a few thousand more but this tax credit will close that gap and make them more attractive to people who want to save money on gas. I would stay away from GM and re-evaluate. Personally, I wouldn't touch that stock with a ten foot pole.
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