Show-me Account Talk

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Show-me said:
New 52 week low and closing low. Hold me.
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I think someone just lightened my billfold......
I am afraid the market still wants to take more.:blink:
S&P has already shucked 20% or about 200 points since election day.
Next stop S&P500 @ 600?
 
The big 3 will not, and should not, survive without new management, major labor concessions, and more efficient / cost effective vehicles.

Just my opinion, but I am sticking with it.

Did everyone know the execs flew to DC via private jet to testify about how bad things are for them and how hard rhey are trying and what good guys they are? I wonder how the laid off auto worker feels about that.
 
Nope they should go the natural route and file bankruptcy. Throwing good borrowed money after bad is not the solution just like it was not the solution to the credit crisis.

If we so bail them out I want big dividends and premiums for the money. Two of the CEO's have less than 2 years at the helm so firing them would not be fair and a major shake up would doom them. No golden parachute or bonuses until they are profitable for 4 quarters. Same for the Union. Everyone take a pay cut or pay freeze until we have been profitable for 4 quarters. No retroactive bonuses or pay backs, you have to make sacrifices to make it work or walk away.
 
I understand the union has one hell of a contract but so do the executives of the B3A. Freeze them all out and make it work. Last new vehicle I bought was in 1990. I was the first and the last.
 
Hundai and Kia are in a buying mood - get'em cheap. And if the UAW is not happy they can just walk away and go work in a bakery.
 
Birchtree said:
One of the best cars I ever had was a 1953 Mercury while in HS. Wish I still had that darling.
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Best (most reliable) car I ever owned (and 1st new car, except for the one I bought the folks as a thank you when I got myself together as a responsible adult) was a Mercury Tracer.

My Dad's pride and joy was a '53 Ford Victoria. Bought it used in '54, I think for about 1/2 a years wages....... cream and black... it was a beaut.

I just did my part and got a new Chevy Avalanche and love it so far.
I'm a little worried about the extended warantee.
 
dell said:
The big 3 will not, and should not, survive without new management, major labor concessions, and more efficient / cost effective vehicles.

Just my opinion, but I am sticking with it.

Did everyone know the execs flew to DC via private jet to testify about how bad things are for them and how hard rhey are trying and what good guys they are? I wonder how the laid off auto worker feels about that.
Click to expand...

They learned from the OIL EXECS when they testified in front of congress that they where not taking advantage of the consumer with the high price of gas. Yeah! right!
I am not against unions, but when you pay almost $20 to someone to sweep floors, something is wrong.
 
Show-me said:
Nope they should go the natural route and file bankruptcy. Throwing good borrowed money after bad is not the solution just like it was not the solution to the credit crisis.

If we so bail them out I want big dividends and premiums for the money. Two of the CEO's have less than 2 years at the helm so firing them would not be fair and a major shake up would doom them. No golden parachute or bonuses until they are profitable for 4 quarters. Same for the Union. Everyone take a pay cut or pay freeze until we have been profitable for 4 quarters. No retroactive bonuses or pay backs, you have to make sacrifices to make it work or walk away.
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Show-me,

I own a chevy and a dodge and got an E-mail from chevy saying it is not a bailout but a loan that they have every intention to pay back. Similar to what chrysler got in the 80's.
I agree that there needs to be some concessions. But I think if the B3A go under this country goes into a DEEP recession.
 
nasa1974 said:
Show-me,

I own a chevy and a dodge and got an E-mail from chevy saying it is not a bailout but a loan that they have every intention to pay back. Similar to what chrysler got in the 80's.
I agree that there needs to be some concessions. But I think if the B3A go under this country goes into a DEEP recession.
Click to expand...
CNBC people are now saying it is the consumers fault because we are not buying or wanting to borrow. Yeah right. First they say the problem is the banks don't trust each other, and now that they have scared the pizz out of the consumer and everyone is buckle-ing down, we are now the cause of it not going forward. Geez, I guess they will blame it on everything and every one before they are done, and have nothing or no one left to blame. Go figure.:)
 
nasa1974 said:
Show-me,

I own a chevy and a dodge and got an E-mail from chevy saying it is not a bailout but a loan that they have every intention to pay back. Similar to what chrysler got in the 80's.
I agree that there needs to be some concessions. But I think if the B3A go under this country goes into a DEEP recession.
Click to expand...

Show,

Although I don't have a lot of pity for the "Big 3", I don't really want to see them go under either. However, I have not seen them coming to Congress with a new business plan that will work. Just throwing money at them will only stave off bankruptcy for a few months, at best. I think their cars are now reasonably competitive with the imports, but they suffer from a perception problem. Unfortunately it took a decade or more for this consumer perception change to happen and will probably take that long for it to swing back.

As a minimum, I would require the automakers to present a busines plan that reduces their costs per vehicle to what the costs are for foreign manufacturers with assembly plants in the US. This is a necessary step if the "Big 3" are to survive, with or without the bailout. If they don't get the bailout, a chapter 11 bankruptcy court will force the cost issue.

This is the end of a long gravy train ride for the UAW - I'm actually amazed that it lasted this long.
 
presskh,

Very true, all the money will do is hold off the inevitable if they do not have sales. In order to have sale we need jobs and confidence in the markets. IMO, this will not happen until 2010 or later, 2009 will be a ugly year for all.
 
Show-me said:
Oscar is calling 723-719 and possibly much lower (688) on the S&P.
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I would think there will be a big bounce off the 2002 lows. 770's may even happen today, but I think it will hold and we'll bounce back very quickly to 850-900. I would be very fearful of trying to short < 800...it could very well blow up in your face, and "rip it off", as they say. Lets let those very low gas prices sink in and spread some holiday cheer. After everyone enjoys Thanksgiving, and cheap gas, and family and such, we'll all feel better and the market will turn that frown upside down and rally into years end for no apparent reason!
 
CP,
Oscar is calling that bounce too. He thinks we could bounce to the middle of the head above 900, then sell the hell out of the market. I'm holding at this point, I expect a poor open and will ride this one for a few more days.
 
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