ggillin
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Latest Comments7 Comments
Wall Street Breakfast: Must-Know News
GM needs Chrysler and all of it's legacy costs like a driver needs four flat tire's, they already have enough tax loss carry forwards to protect any hoped for perceived profits (ha ha) for the next two hundred years!
Profits? Did I say profits, I must be getting delusional, nobody makes any profits if they make products nobody wants except the govt, which only wants that 'fuel tax dollar' hence the payoff of tax payer billions.
Cerberus gets a free bailout on the tax payers dollar for making a greedy, stupid, wrong investment decision. A 'get out of jail' free card, if you know the right pol's. This is nothing short of a huge crime!
The tax payers get stuck with this first 25 billion with many more billions to follow under the phony guise of retooling for the coming electric car.
Once again other car manufacturer's will eat Detroit's lunch by giving the world the car's the public needs and demands.
Read these these words well, this game is coming to a fast end.
All of the American auto manufacturers are going bankrupt, got that BANKRUPT!!!!!!! and if you have anything in the form of their securities you the 'little guy' are going to lose everything. The govt is just sucking you in before they take everything and that includes YOU the auto worker, you can kiss it all good-by, securities, pension's - GONE!
The American people and the pol's don't have the gut's to do the right thing, so the wrong thing is done until the house of cards collapses.
However 99% of the time, unwittingly the right thing is done by someone in the market place by the process of manufacturer/seller/bu...
The only question remaining is, when is the U.S.A. going to do the right thing! Is it going to be only after all is lost? Why? to what end, for what purpose?
LORD, help us please, because we are way to dumb to help our self's otherwise, how could anybody lose a combined market share of 99.98%.
Wall Street Breakfast: Must-Know News
Chrysler has been shopped around the world and nobody wants them so, along comes the worlds dumbest auto company with it's tongue hanging out like a little puppy. Hello bankruptcy GM! In an over crowded world of auto manufactures Chrysler did not make it. Good-by!!! The U.S. Govt. and taxpayers do not need to go through this story again. If you own a Chrysler product start putting suntan lotion on it because it's on it way to the junk yard to sunbath. No doubt about it.
Maybe the army could buy them and use their plants to build their own vehicles with the very soldiers who will be operating them in combat. Now those will be very well trained mechanics/soldiers and auto engineers and there will be no legacy costs involved. This is a better idea than any bailout money that will be spent, wasted and lost.
Wall Street Breakfast: Must-Know News
This is an excellent site. I highly recommended it for a quick overview and the many articles, some that are just 'little gold mines' of info. Worth a read, a 5 star site for sure.
ggillin@sbcglobal.net
Fixed Income: Little Value in Treasuries, Preferred Financials Yielding 8%
A nice short, concise article.
I would not consider buying the particular issue you wrote about but I liked the info, especially the included credit quality ratings.
ggillin@sbcglobal.net
Default Risk of U.S. Automaker Debt: Too Big to Fail?
Why, oh why would anybody want to tie up their funds on this HY junk that almost for certain is only going to return a very few pennies on the dollar at best. All of the really secured debt that is going to be paid off is held by the banks and YOU are not going to get one penny of it, if they can help it. Buyer beware, is never more appropriate then right here in the American auto companies debt, sad to say.
The handwriting is on the wall for Ford (tbf) and for GM also if it is needed. This will be the payoff from the govt to the auto company's for sticking with ' THE HYDROCARBON FUEL TAX STRUCTURE' right down to the very last drop, now the taxpayer is going to get ripped with all of their debt after leaving all that they had at the gasoline pump. BUT WAIT, this game is not over yet, Somehow no matter who wins in November I think these boys are not going to be able to be hogs at the table because of all of the other problems and no surprise here but, a HUGE outcry from the public against their salvation.
Chrysler is done, Tata, is going to say 'tata' and walk away if they have any brains, let the German's and Cerberus eat the debt, the German's where smart enough to get out only holding 20 percent of the bag, sooner or later the others will figure this out. F, GM, you really do not have the brains, ability to innovate or sense of what the market needs and respond to it in a timely manner. What would make any debt holder think things would be any different this time around even after your govt bailout.
There is a lot of GOOD debt out there that is secure, paying a very nice interest, way above the long term norm in a stable economy. All of the debt holders that I know (including myself) like to sleep very well at night. Why turn yourself into an insomniac! for what, a few more pennies, don't be foolish!Get ready for the coming MASSIVE tax restructuring programs by the govt to begin very soon on ALL of your earnings, nothing and nobody is going to escape. The govt needs money and they are going to take it! So what's new.
ggillin@sbcglobal.net
Ford Shareholders Face High Potential for Pain
I agree that buying Ford common is so risky that it is a fool hearty gamble at best.
I disagree strongly with your statement advising investors to buy Ford convertible issues. It would be nothing short of a miracle if any of these issues ever payoff at 100 percent, more likely .05 to .30 cents on the dollar at best and that's only for the most senior backed issues. The realistic truth is that any issues that are going to survive and pay 100 cents on the dollar AND all due interest in arrears are all locked up by the banks and none, not even one, will trickle down to the average investor who reads this column. Only the public 'retail' dept is out there and that is going to get wiped out, or nearly so.
You wrote your article but you did not give any mention as to what issues (coupons/dates) Joe. Q. public should be looking for. Interesting. Joe. Q. public, get smart this time, STAY AWAY, let the big boys eat their own mistakes For(d) once.
Ford's Deepening Hole
reactor or anything else needed for energy production. Not in my backyard is the hue and cry of America today. The General got it right when he said that we are a bunch of whiners and may I add spoiled brat, gutless cry babies. I'm not the general and I do not have to be politically correct and condescending. All of you who oppose anything and everything stand up and take a bow because you are Americas biggest problem, you and the gutless pols who are your allies. Look what we have got from you, nothing and thats all we will ever get from you is nothing. Chrysler is dead, their future is nil, they are out of money and they will not be getting anymore. Every Chrysler product ever made is destined to be catching a sun tan in the nations auto junk yards except for a few saved by collectors. No one with even a modicum of a brain wants to keep more brands in an auto manufacturing market that is already over crowded and destined to become even more so. Ford, welcome to bankruptcy, most bond holders, all preferred holders and common stock holders, stick a fork in your butt, your done, kiss your investments good by. Everybody in the know has already bailed out if they could have, only speculative money is out there now and that's soon to vanish. Ford will survive because of old line American money and a govt bailout but the price is going to be high, very, very, high and the Ford family and Foundation will no longer own a controlling stake in anything. This American dynasty is coming to an end. Sad to say, because this writer has always been a 'Ford man'. The 1956 Ford Fairlane 500, (my all time favorite car) and all of those big beautiful Lincoln's that I loved and drove for so long (over 30+ years) are gone until the govt can force the hydrocarbon fuel tax structure into the fuel cell mix. What this means is that 'you' can not make your own fuel, a fairly simple thing to do. GM, you gutless coward, you deserve everything that is happening to you. You are the dumbest corporation in modern day history with a management team that can claim the all time DIMWITS title, uncontested throughout the world, GM, you win hands down, no one is even close. You refuse to build a quality small car and you have refused to build an electric car for years even while the govt was selling you out. You have destroyed billions of investors dollars and the lives of millions of workers. You do not deserve to survive but you will. The same is true for GM investors as for Fords, kiss your money good by if your dumb enough to stick around for this fiasco with this dimwit management. Do you think GM is safe in China, South America or Russia? who are you kidding, the Chinese do not need GM, in ten years you will not be able to find GM in China even if you look under every brick in the GREAT WALL , every auto company in the world can eat GM's lunch and these other country's/nations will be no exception. GM, bend over, the boot in your butt is coming in a big way. Someday a miracle of miracles will happen and GM will build a car that the American public actually wants and the cycle will begin again but for us middle aged investors, we will never live to see it, even with ten more modern miracles of medicine. Did anyone see “Who killed the electric car?” why it was GM, Ford and the US Govt. Why? Because of the 'hydrocarbon fuel tax structure' no other reason, certainly not all of the govt and manufacturer's poo that they have tried to bury us with all of these years. Today the hybrid is a reality, tomorrow (2010, if not sooner) the all electric car will arrive on America's roads. (the worlds roads, in reality) Get ready, a MASSIVE TAX OVER HAUL around the world is on the way and it is not going to be a pretty picture. The socialized country's are going to see the huge hand of govt on their paychecks (and I mean HUGE) and American's are going to see a 25 percent plus bite minimum for everybody. GM, Ford survive, Chrysler get your suntan lotion ready, your gonna need it.