Ford Stock Surges...

[SYCO GT]

GM, Ford surge ahead of next week's meeting in Washington
12:25p ET November 28, 2008 (MarketWatch)
SAN FRANCISCO (MarketWatch) -- General Motors Corp. and Ford Motor Co. both saw their shares rally during Friday's holiday-shortened trading session ahead of next week's crucial meetings in Washington that could lay the groundwork for a federal bailout of the ailing auto industry. Automakers have been asked to submit a plan to Congress by Dec. 2 explaining how they would use a $25 billion cash infusion to revive their businesses. Ford stock surged 22.3% to $2.63 and GM rose 9.8% to $5.28 as investors raised bets that Congress would agree to lend the domestic automakers a financial lifeline after initially turning down their request. GM earlier this week also caught buyers' interest on reports that the company is considering shedding its Saturn, Saab and Pontiac brands as part of its effort to cut costs and secure the government loans.

 

[HiloDave]

Cool! Now I can afford to go to Rally IV.

 

[ChipBeck]

CCELA account.

Ford stock surged 22.3% to $2.63.

Great,

Now if it just surges about 1050% more, I'll break even on the 6000 shares I bought at $26 a share more than a decade ago! :ack

Chip

 

[Empty Pockets]

From a percentage standpoint, the stock DID "surge". But, when the "surge" being referred to is like 50 cents a share, using that word just seems like journalistic sensationalism to me somehow... :willy

Regardless - IT WAS A 'GAIN'. And that's not to be sneezed at these days! :cheers

 

[barondw]

The same with Citi bank stock. If it surges 600% that would be nice.

 

[BlackICE]

GM earlier this week also caught buyers' interest on reports that the company is considering shedding its Saturn, Saab and Pontiac brands as part of its effort to cut costs and secure the government loans.

Now how much would it cost to do that? I assume that many of not most of the UAW workers would still get paid 90% or more of their salaries even after the plant closings. Dealers will have to be paid out etc. It does nothing about the work rules, retirement and heathcare costs. A "structured BK" would help in all of these areas.

 

[dbk]

That would cost GM billions because they'd have to compensate a whole bunch of dealers, employees, blah blah blah as they'd get rid of them. Doubtful any politician wants to be the guy that signs off as the dude who loaned the money to cut the jobs. It's what they need though.

I decided to gamble on Ford and dumped money at it last week. Up almost 100% since. RUN! GET OUT NOW! :lol

 

[S592R]

not to hijack here but has anyone else noticed that the Nikkei, IBEX and Dow are at about the same place?

hmmmmm.......

 

[Empty Pockets]

not to hijack here but has anyone else noticed that the Nikkei, IBEX and Dow are at about the same place?

hmmmmm.......

Which should bode well for those in mkt index funds when the mkt turns around. (However, the Dow will very likely vist the "fives" before everything really does start to creep back up for real. And THAT'S barring another 9/11 or the like.)


Prognosticating Pockets.

 

[S592R]

Which should bode well for those in mkt index funds when the mkt turns around. (However, the Dow will very likely vist the "fives" before everything really does start to creep back up for real. And THAT'S barring another 9/11 or the like.)


Prognosticating Pockets.

If the market hits the "fives" then that would mean unemployment would pass "the great depression" adjusted per capita workforce figures. Which would be truly scary since then we where basically a farming economy and now we are basically a service economy. You can't eat service when you lose the job ......

Hoping your crystal ball is wrong in that area.

 

[Empty Pockets]

Hoping your crystal ball is wrong in that area.

So do I. :frown

 

[B O N Y]

so do I, I would have to put my FGT on ebay......

 

[SYCO GT]

The same with Citi bank stock. If it surges 600% that would be nice.

After hearing the report late Sunday evening.

I bought some Monday morning, sold half the position yesterday, a nice 35% return. Too bad I didn't get early hours pre-market open pricing - I'm gun shy of after hours trading, and haven't done it.

I'll follow the remaining half and hope that it maintains current course, but who knows, even a bailout is no guarantee of anything.

 

[S592R]

Since I'm fickle and like to change colors often, I've sold several GT's via eBay. If the market hit EP's numbers, doubt that anyone could sell their car on eBay. Better to consider it as your "van down by the river". :wink

On that GT front ... inventory seems large (by comparison) and GT prices have softened.... a bit more than anyone of us would like to admit.
1161 is still at home ... too bad.... since I know where there is a yellow no stripe car with less than 1k miles on it for sale. asking is way less than I have in 1161. :bored

When we hitting 11500 again?