The Barbarian
DP Veteran
- Joined
- Jan 16, 2011
- Messages
- 1,265
- Reaction score
- 277
- Gender
- Male
- Political Leaning
- Conservative
How much GM stock do you own? Why would anyone buy stock in a failed company? The U.S. Govt. bought that stock when no one else would.
Excuse me ?? The very best time to buy stock in a company is when they are in dire trouble … When Chrysler was in trouble in the late 70’s their stock dropped to around $2.00 per share. The government stepped in with 1.5 billion dollars of loan guarantees (1979) by 1983 the stock was over $26.00 per share and by 1987 it was $52.00 a share ..
At that time I was a very young man, but had a good paying job, some wise friends, and was willing to listen. I decided to only invest $1500.00 . Nearly 8 years later it was a rather good payout for me, for the friends that guided me into this investment, a couple of them became millionaires in 8 years
The reasons I didn’t act on GM or Chrysler this time, one is because of my age and need, the other was because there was and is too much government involvement that forced each company to retain to much of it’s pension debt , and did very little about lowering it labor costs,. In my opinion it was nothing but a short term fix, and in 10 years they are going to be facing many of the same problems they faced in 2008. Now understand that is just my opinion, and perhaps just like in the 80’s they will make people that invested in them now the same type of money.
That story aside, The auto industry is to important to this country. Anyone that believes that Romney or any other person in power, would have let and of then just disappear is a total idiot. There are many ways that the government could have help GM and Chrysler get though a bankruptcy. What Romney was saying was there was better ways in his opinion, and considering his experience in big business, I would tend to think he knows more then Obama .. Or anyone in here . .