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GM posts huge $39 billion net loss

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posted on Nov, 7 2007 @ 01:06 PM
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DETROIT - General Motors Corp. posted a company record $39 billion loss Wednesday for the third quarter, as a charge involving unused tax credits brought an abrupt end to a string of three profitable quarters for the nation’s largest automaker.


Source: www.msnbc.msn.com...

Things are officially getting scarier by the second.

America is going to have a massive market crash!



posted on Nov, 7 2007 @ 03:12 PM
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Boo too all of you for thinking the market is crashing; its not. If you let fear rule you then ya, the market will crash because people will all sell. This is the time YOU SHOULD BE BUYING. Gm lost a lot, but it had to do with Tax credits or something of that nature; not to worried about it. Why can't the credit people all take a big one time hit and get it over with?



posted on Nov, 7 2007 @ 04:05 PM
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Originally posted by ChrisJr03
Boo too all of you for thinking the market is crashing; its not. If you let fear rule you then ya, the market will crash because people will all sell. This is the time YOU SHOULD BE BUYING.


Good point, but still
if you are the only one buying..... then u lose



posted on Nov, 7 2007 @ 05:34 PM
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I'll take my chances. Here's how I see it: 1. If I'm the only one buying, I get tremendous bargins. 2. People will come to their senses and I will be sitting pretty. 3. I can sell and make countless thousands, maybe even millions on the stocks that people where to afraid to buy. 4. I can hold my stocks, let them grow/split/pay out dividends and have a nice retirement fund.

Also, someone(s) has to be buying if people are selling.

Right now, I'd choose option 4 because I basically like holding my stuff for the long term. I did sell AT&T high and Dynegy high; I'd still like to have AT&T just because it's solid, but I'm happy with my new stocks; they're good, yet the market keeps bringing one of them down and they keep posting above average profits and keep beating the market projections.

I'm 23, my risk factor is fairly low; I have the rest of my life to make it back so stocks are something I like, even though my mutual funds are suprisingly solid at this point, still making money somehow.

[edit on 7-11-2007 by ChrisJr03]



posted on Nov, 7 2007 @ 07:22 PM
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you need to look at history at previous stock market crashes
business suffer and many close down, even huge ones

you may invest in a company that will go bankrupt
also, when ppl buy later on, it may take u yrs to go back to where u were at purchase time



posted on Nov, 7 2007 @ 10:08 PM
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If I'm not mistaken, most crashes occured because of fear, at least the one in 1929. Besides Black Monday, I do not know of many more "crashes", and, Black Monday is still an ongoing debate, yet many big firms came out ok on that one. The Stock Market crash of '29 was basically caused by fear and panic selling. I'm not saying that's the whole reason, but that seems to be a major reason why that particular event occured. People holding onto their money and not reinvesting into the market helped bring about the Great Depression, that coupled with the Fed not growing the money supply.



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