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GM stock falls below $10

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posted on Jul, 2 2008 @ 05:43 PM
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GM stock falls below $10


www.wane.com

Shares of General Motors have closed below $10 for the first time since Dwight Eisenhower was president of the United States.

The shares have ended the day at $9.98, down 15.1 percent, their lowest since Sept. 13, 1954.
(visit the link for the full news article)


Related News Links:
us.lrd.yahoo.com

[edit on 2-7-2008 by jhill76]




posted on Jul, 2 2008 @ 05:43 PM
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Wow, that is low! I wonder is this the beginning of an era? Is this the start of the economy collapsing?

www.wane.com
(visit the link for the full news article)



posted on Jul, 2 2008 @ 05:46 PM
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Aloha Jhill76, I heard this on the radio as i was driving into work. I thought the same thing. This is the start of the economy collapse. I know starbucks is GM but they are closing 600 stores and 12,000 people will lose their jobs. I'm very scared about all this economy crashing crisis. Starting to save food and water. I live in Hawaii and were are on our own if anything happens to the mainland.

I flagged it for you, but i dont know how to do the star. I haven't figured it out yet.

I figured out the star system i just click on it and you get one. Right?

This is a very good topic and i'm interested to see what everyone has to say.

[edit on 2-7-2008 by isa75]



posted on Jul, 2 2008 @ 05:58 PM
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reply to post by isa75
 


I think the Starbucks issue was bound to happen regardless of any economic downturn. My God, do we really need three of them on the same city street intersection? There's actually a local joke here in Seattle about Starbuck's ultimate goal is to provide coffe drinkers with a place where they can sit at a window seat, looking out the window of the store and across the street, watching other people in the Starbucks over there sitting in the window seat watching them.

They had way too many stores.



posted on Jul, 2 2008 @ 06:05 PM
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I like the commercial from Toyota..

Guy and his son standing in front of a house... Another guy and his kid in a Toyota truck outside the house..

Guy in the truck tells his son, "Son I built that house!"... Guy in front of the house tells his son, "Son, I built that truck!"...

Fact of the matter is that Toyota employs more US Citizens than all of the big three combined. So the reason nobody wants a GM car is obvious, why would you buy a Mexican made car when you can buy one made by a US Citizen? I wouldn't own another GM car if my life depended on it no matter how good they are.. I would rather employ my neighbor than somebody I don't know nor care about.

The president of Toyota asked Bill Ford at the Detroit Autoshow three years ago how he could get paid 17 million and make crappy cars with foreign labor when he made 1 million a year and made superior cars with American labor. Ford had no reply, the president of Toyota told him in front of everyone, that is why I will over take you this year and become the number two auto maker in the world.. He was right... Now it's GM's turn to fall down and it's all due to stupid american management wanting to get paid a kings ransom for sitting on their butts and not working.

[edit on 2-7-2008 by GrndLkNatv]



posted on Jul, 2 2008 @ 06:41 PM
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That is really scary, everything is falling, the dollar, stocks, the economy is really diving head first into the ground..



But i am wondering, i won't be affected by it since i don't live in the US, but i want to save up my money in case Norway goes into a downfall too.
Think it would be possible to buy shares like that when they are low? Or is it unlikely that they will go up much higher?



posted on Jul, 2 2008 @ 06:47 PM
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reply to post by jhill76
 


That is horrible for a lot of peoples 401K's and unfortunetly they probably dont even realize it. O- well lets save money and buy now. BTW: Indymac bank closed at ?$.76 today. Watch that one. IMO!


sty

posted on Jul, 2 2008 @ 07:00 PM
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we "knew" it for more than one year here on ATS : that we will have trouble with the economy by autumn 2008! Are the CEOs of GM plants???? why do they cash for their services?? since summer last year most of the world started to accept other than $ currencies for petrol . I guess the CEOs should come here on ATS haha



posted on Jul, 2 2008 @ 07:52 PM
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Last year I probably could have bought a Prius with my 401k. This year I'll be lucky if there's enough left to fix the Regal up I bought instead.

This thing with GM sure reminds me of what happened to Chrysler and the fed having to help them out. Somehow I feel it might be China this time.

I wonder if they'll just sell the Hummer market to Iraq since they need military equipment? That might save their butts.




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