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Old 10-09-2008, 09:37 PM   #43
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And this wonderful news comes as I'm sitting in a meeting with group of engineers from GM! Needless to say they are all very quiet at this moment.

Shares of General Motors plunged thirty-one percent today—and maybe more, it’s hard to tell because ten minutes after the market closed stocks kept dropping due to pent up sell volume. Standard & Poor's Ratings Services put the auto maker's debt rating "on CreditWatch with negative implications."

S& P credit analyst Robert Schulz said the classification reflects "the rapidly weakening state of most global automotive markets, along with capital market conditions that will remain a serious challenge for the foreseeable future." Translation: no one can afford a car, and no one can borrow to finance one.

Even Schulz’s reassurance is unsettling.

"We believe GM currently has adequate liquidity for at least the rest of 2008 as measured by cash balances and available bank facilities, but the accelerating deterioration in industry fundamentals will be a serious challenge to liquidity during 2009," he said.

Oh, totally great. They probably will survive through Christmas. If a doctor gave you this kind of diagnosis you’d be drawing up your bucket list right now.
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Old 10-10-2008, 03:49 AM   #44
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And this wonderful news comes as I'm sitting in a meeting ...
Wow, that was quick! .......Didn't see that coming....LOL!!

Calling all Airlines! Your next in line after GM for a bailout...
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Old 10-10-2008, 12:40 PM   #45
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Calling all Airlines! Your next in line after GM for a bailout...
Nah the airlines are showing monsterous profits, besides they are so busy nickeling and dimeing everyone to death with their 1st checked bag luggage fee, the 2nd checked bag luggage fee, an extra $35 on your ticket if you want an isle seat, extra fees if you want an exit row seat, still more fees if you want an "Exit row isle seat" and a fuel tax just to mention a few. On some airlines the only seat you can get without additional fees is the middle or center seat (centre for you non Americans)

Why is it that when the oil price went through the roof the airlines cried foul and added all these fees, yet now that oil is back in the $82.00 per barrel price range we do not see the airlines announcing that they will be lifting all those fees. As far as I am concerned the greedy buggers can all go bankrupt.

Hmmm Maybe the airlines are paying for AIG's SPA fees ...
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Old 10-10-2008, 05:50 PM   #46
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Nah the airlines are showing monsterous profits, ...
Thursday August 21, 2008

Addressing the Australian National Aviation Press Club in Sydney, IATA DG and CEO Giovanni Bisignani said: "We are a fragile industry and we are in crisis; wait and see is no longer an option. We are in the perfect storm of uncontrollable fuel costs and falling demand. Airlines could lose as much as $6.1 billion this year," wiping out the $5.6 billion profit reported in 2007, bringing the cumulative losses since 2000 close to the $50 million mark. Bisignani noted that 25 airlines in the IATA clearing house system have gone bust - greater than immediately following 9/11- and we are bracing for more," he said. The airline industry is frustrated by profit margins of 1.1% in a situation where airlines have reduced sales and marketing costs by 25%, improve fuel efficiency by 19% and cut non-fuel unit costs by 18% .

And which Airline would that be that shows "Monstrous profits" ? A $6.1 billion loss is projected for the industry....Far from "monstrous profits" I'd say....
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Old 10-11-2008, 01:56 AM   #47
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And which Airline would that be that shows "Monstrous profits" ? A $6.1 billion loss is projected for the industry....Far from "monstrous profits" I'd say....
Take a look at Continental Airlines for one ...
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Old 10-11-2008, 02:02 AM   #48
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Take a look at Continental Airlines for one ...
Seems I was wrong, Continentals profits of last year turned into a $91 million loos in 2008. My bad. Not too proud to admit I made a mistake.
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Old 10-11-2008, 05:16 AM   #49
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Seems I was wrong, Continentals profits of last year turned into a $91 million loos in 2008. My bad. Not too proud to admit I made a mistake.
I make mistakes every day .

I happen to come from an " Airline Family"....X heavy aircraft mechanic. I got tired of the politics and wastefull activities of the upper mgmt and quit for life...I still have many ties in the industry so I just happen to hear about the latest on a daily basis.

I think all the big corp.'s are in trouble, no industry is safe...."Stuff" rolls downhill, know what I'm sayin? Time to start thinking "Survival Mode"...
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- RICHARD BODE
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Old 10-12-2008, 05:41 PM   #50
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Good thing cruising mode is survival mode! I believe we all have a jump on the rest.
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Old 10-13-2008, 11:10 AM   #51
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NEW ADDITIONS TO WEBSTER'S

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use
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Old 10-13-2008, 08:27 PM   #52
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I like the Standard & Poor...

Market is up over 655pts!!...another 1200 and I'll be able to sleep again
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Old 10-15-2008, 07:03 PM   #53
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STANDARD & POOR -- Your life in a nutshell.
You know me already, and we only met a week ago ....
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Old 10-17-2008, 03:57 PM   #54
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A good friend and very successful investor sent this to me this morning...thought I'd share it.

My two favorite people, Warren Buffett at 5 AM and Jimmy Buffet at 5 PM .

(Reuters) – Billionaire investor Warren Buffett is buying U.S. stocks, he wrote in an opinion column in the New York Times.

"A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful," Buffett wrote in the paper.

Buffett acknowledged the economic news was bad, with the financial world in a mess, unemployment rising and business activity faltering.

"What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up," he said. "So if you wait for the robins, spring will be over."
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Old 10-17-2008, 04:50 PM   #55
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Buy low sell high? Hmmmmmmm? Ol' Waren may have something there...Maybe home buyers should have thought of this BEFORE they bought thier homes or took out a second or third mortgage on thier existing home. Dow down over 700 pts yesterday, feels like a ride at Disneyland.

Oil down to $70 a barrel, I'm still paying $ 3.30 a gallon ( yes, that's allot in the US). According to my calculations, I should only be paying $ 2.26. Funny how right around a presidential election prices drop!? Never to where they should be though...

Oh, and I here GM and Chrysler are planning to merge. Look for a formal announcement in 2 weeks... What would that to to stocks? I wonder if I should purchase 1 or the other BEFORE this happens? How does that work when companies merge? Advice anyone?
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For the truth is that I already know as much about my fate as I need to know. The day will come when I will die. So the only matter of consequence before me is what I will do with my alloted time. I can remain on shore, paralyzed with fear, or I can raise my sails and dip and soar in the breeze.

- RICHARD BODE
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Old 10-17-2008, 05:10 PM   #56
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Buy low sell high? Hmmmmmmm? Ol' Waren may have something there...
I think there is more to it than that or everyone would be buying now. Being able to get past the pucker factor of laying out cash on stocks that are droping like rocks takes some stones...or simply having lots of money
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