Thread regarding General Motors layoffs

During the last recession, there was a point when Ford was less than $2/share. Give it another year. By next spring, liquidity should dry up. Mass layoffs, foreclosures, retail stores going out of business. People will get a clue when they read about a dismal Christmas season. It will take some time but the financial collapse will occur must faster than the GFC. Good luck and I like your style!
PS You have to love the timing of the UAW contracts! WOW, going to grind the big 3 down... win the battle, lose the war.

I put in a buy for GM stock at $7 and Ford stock at $4 per share. Hopefully, it will trigger soon.

Been warning for some time now that GM stock is going to tank. It broke support in the charts, and is now in free fall mode until the new lows have been met. Right now, that's low 20's to mid teens imo, dyodd. It'll likely fill the March 2020 gap lows, and surpass it. Just how it often works.

You can be the chump that always buys the dips, or you can sideline yourself and wait for the ultimate lows. Sometimes they use the same "buy the dip" news to fleece the investors. Kind of like the "40-50 years that vaccines were safe (covid propaganda), until they weren't. They were always playing on your trust for that one ki-l shot.

Do you know why they coined the phrase "you will own nothing and be happy"? The intend to steal all your wealth in the greatest stock market decline the world has ever witnessed, and still, people will buy that dip.

More money than the salaried and executives think they should have. I'm sure they have all kinds of reason they are all inferior based some guy who did a bad job back in the 90s.

"No, they just get more money."

More money than who?

"No UAW members enjoy free car use or stock discounts."

No, they just get more money.

"No stock discount from GM."

It's really insulting that:

1. They call it a benefit when it isn't.
2. They even bother, knowing it will only end up in losses.
3. They offer stock purchases without a discount knowing it's industry standard. GREED!

SLT gets free stocks. They get cars. So do managers. But for regular employees, we get paid much, much less and have to pay for everything. Being in the UAW won't solve this before anyone jumps in and makes that claim. No UAW members enjoy free car use or stock discounts. The point is, any GM employee who uses the ESPP is a fool.

No stock discount from GM. I guess the are relying on the goodness of employees to want to help the stock price by purchasing at full value. I would not consider this a benefit provided to employees.

Investopedia:
What Is an Employee Stock Purchase Plan (ESPP)?
An employee stock purchase plan (ESPP) is a company-run program in which participating employees can purchase company stock directly, at a discounted price.

Does GM's ESSP offer stocks at a discount? Anyone?

@hls+1p4oz3Qx
Nice move!

@ggb+1p4oz3Qx
100% waste for retail investors, 100% gain for executives who are compensated with stock. In most cases for large corporations, stock buybacks are good for all stakeholders. Automotive just doesn't attract mainstream retail investors. If they wanted more investment, they would pay a higher dividend... It's just not a compelling stock. Almost all risk with almost no reward.

@psf+1p4oz3Qx
That would make sense if GM stock had a history of moving up, but it's been flat since the IPO. But you do you.

Sold all my remaining GM stock in August at $39, felt the bad vibes ahead I guess. But, GM just keeps talking about how great sales are each quarter!?

So the billions spent on stock buybacks were a huge waste and misuse of company funds.

Then this the time to use ESPP