GM says it has paid back all of the government bailout money, with interest and is now profitable. It's a lie. Maybe the big drug cartels are laundering their money through GMs credit arm.
I don't know a single person that has bought a GM vehicle in years, do you? We have an auto dealership strip on the main highway that goes through our town. All the GM lots except Chevy are closed and Chevy doesn't look all that profitable. I expect Hyundai and Subaru to snap up a couple of those lots now derelict. The spaces they currently hold are woefully inadequate.
I didn't buy bank stocks a year and a half ago and I should have. I'm not going to buy GM stock now. Chrysler either. My father owns some Ford. I think maybe he's senile but I'm often wrong. You can buy GM stock cheap. Buy a block and if the company comes back you'll be set for life, maybe in only a few months time. Are you tempted?
1 comment:
It may be a good investment but I would be very leery of it. The unions now control GM and they usually run everything into the ground where they have the power.
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