 
Lilpup
Member
Username: Lilpup
Post Number: 5751
Registered: 06-2004
| | Posted on Monday, November 24, 2008 - 10:59 pm: |    |
just read something that I hadn't thought of - what if the employees (and maybe Detroit area people) made a grassroots effort to buy large chunks of stock, not only driving up the price but also getting a large voting block? I realize it's not as possible with Ford given the special voting shares, but what about GM? Would it be legal for the UAW to facilitate something like that? The stock's so cheap ($3.59 today) that 100 (or more) shares per employee or other concerned party could be doable. They've got 610.5 million shares outstanding.
I heard Village Ford was giving away 100 Ford shares with every new vehicle purchase. |
Mikeg
Member
Username: Mikeg
Post Number: 2107
Registered: 12-2005
| | Posted on Monday, November 24, 2008 - 11:09 pm: | |
I think that you will find that most GM employees and retirees (particularly the salaried ones) already feel they own too much GM stock, not to mention their Delphi shares ($0.02 each today) they received when that company was spun off. |
Ronaldj
Member
Username: Ronaldj
Post Number: 66
Registered: 01-2007
| | Posted on Tuesday, November 25, 2008 - 12:41 am: | |
I have an acquaintance who saw the writing on the wall when Ford spun off Visteon. He was salaried. He retired about eight years ago with his Ford stock to be the bulk of his nest egg. Ouch! Regrets, I've had a few... |
Rid0617
Member
Username: Rid0617
Post Number: 359
Registered: 03-2008
| | Posted on Tuesday, November 25, 2008 - 1:54 am: | |
"I heard Village Ford was giving away 100 Ford shares with every new vehicle purchase."
They're doing that in South Carolina also. When I multiplied 100 times the price of the stock my first thought was big deal. Give me 0% financing instead. |
Lilpup
Member
Username: Lilpup
Post Number: 5753
Registered: 06-2004
| | Posted on Tuesday, November 25, 2008 - 2:06 am: | |
well, yeah, unless it goes back up to $40 in a year or so
kinda like lottery tickets  |
Iheartthed
Member
Username: Iheartthed
Post Number: 3647
Registered: 04-2006
| | Posted on Tuesday, November 25, 2008 - 8:45 am: | |
quote:well, yeah, unless it goes back up to $40 in a year or so
kinda like lottery tickets :-)
Yeah, the odds of it hitting $40 in a year are the same as you winning the lottery... |
Mikeg
Member
Username: Mikeg
Post Number: 2108
Registered: 12-2005
| | Posted on Tuesday, November 25, 2008 - 8:54 am: | |
GM has about 400,000 employees and retirees. If each bought 100 shares today, they would increase their holdings by 40 million shares, which is 6.5% of the outstanding shares. That's not enough to get a voting block, unless they already owned 660 shares each.
In terms of the effect such a rush of buyers would have on the price of the stock, GM's underlying financials would remain unaffected and the stock price would soon revert to where the rest of the market believes it belongs. |
Mwilbert
Member
Username: Mwilbert
Post Number: 457
Registered: 11-2007
| | Posted on Tuesday, November 25, 2008 - 4:31 pm: | |
If you could get a group together to buy GM, it would probably turn out like the dog catching the car--now what do I do with it?
Given the companies' current financial condition, GM and Ford shares are very much like lottery tickets, but there might be better odds available elsewhere--if you want a lottery ticket auto stock, check out Lear. It might do better on an auto bailout than the automakers. But you need to remember that all of these are more about gambling than investing. |
Jerrytimes
Member
Username: Jerrytimes
Post Number: 157
Registered: 04-2007
| | Posted on Tuesday, November 25, 2008 - 5:26 pm: | |
I plan on buying as much Ford as I can once things settle down. This is a chance for people to make some money. |
Novine
Member
Username: Novine
Post Number: 876
Registered: 07-2007
| | Posted on Tuesday, November 25, 2008 - 7:15 pm: | |
Why wait? Are you expecting it to get cheaper? I'm not sure it's a good buy at any price but if it gets much cheaper, it's only because the company is going down the tubes. |