Quote:
Originally Posted by Kevin
So is GM stock right now a buy? Only $10/share... 50 year low. Amazing.
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I think it's probably a buy right now. I think it will go up again long term and could be a very good investment right now, but I'm an optimist. There's an old saying (was it JFK?) "As GM goes, so goes the Nation". Makes one wonder if that's still true as it was at one time. It's definitely true for Michigan though. We're having a tough time. We've had tough times before and fought through it and I think we will again, but it's hard to stay optimistic. Or maybe it just hits home because I was a GM baby, the daughter of a GM upper level white collar guy and GM fed me and clothed me. Maybe I'm just more emotional that it's GM. But when I look down my street at the number of abandoned houses, I'm afraid to see what happens if there become still more.
This announcement wasn't as drastic as what some of the news folks were predicting (GM keeping only Chevy and Cadillac) so I think there's a bit of a sigh of collective relief. Then again, those thousands of white collar jobs are mostly from Detroit and Warren (my home town). And those, yeah, those are going to hurt.
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