There is a house in Ventura that was sold in December for 1.45 mil to a CFC exec (VP of risk management I believe), it is now for sale for 1.45. It will be interesting to see how much it gets when it finally sells.
You know by the end of the year you might actually be able to get a good deal on a car. These places will be so desperate, the sales staff will be eating bark off trees to survive.
My GM pick up truck is on its 3rd intake gasket (an exhausting and expensive 8 hour job) . GM can't fail quick enough for me.
In 1998 I was hired to write reports as to why their vehicles and components were failing at the AZ proving grounds. $11.00 an hour and no benefits. They were too cheap to hire an engineer or even a union mechanic. That cost savings worked real well for them.
"The Detroit automaker (GM) saw a U.S. sales decrease of 8.3 percent in June, compared with forecasts among auto analysts of about a 19.3 percent fall.
CNBC reports sales figures on an adjusted basis accounting for the number of selling days in the most recent month compared with the year prior. There were 24 selling days in June, compared with 27 days a year earlier"
GM: 60% Of June Sales In Last 10 Days Vs 50% Usually
posted on the wrong thread :
Im a bit slow today, but wouldnt this mean that they sold 50% more cars in that last 10 days period than in the first 20 days of the month? And without that last minute incentive program, their sales would be 80% of what was actually reported? So, next month, you can kiss those extra sales goodbye. Just wait until they report July. That should be a hilarious figure.
Geoff | 07.01.08 - 2:38 pm | #
I noticed a commercial from BMW advertising the fuel efficiency of their cars.
If that's not a sign of an auto apocalypse I don't know what is -- that shouldn't be a selling point for people buying luxury cars in that price range.
ac writes: What's up with the roller coaster today? I haven't been watching.
My take: short term bototm as forecast, only one day late. Short term top still valid in crude oil. I can't wait to short the markets from higher prices.
2:00 pm : The major indices have advanced further from their lows. The upturn was extended on news that a major auto manufacturer posted better-than-expected results.
2:00 pm : The major indices have advanced further from their lows. The upturn was extended on news that a major auto manufacturer posted better-than-expected results.
Why hold back?
"Stocks roar higher on June auto sales explosion."
crispy&cole writes:
I am not sure what is taking Chrysler so long...they could probably count total sales on one hand
crispy&cole | Homepage | 07.01.08 - 2:26 pm | #
Remember the Audi sudden acceleration public relations debacle of the mid-1980s?
I knew someone that traded in his Audi with ca. 125k miles for a brand new Audi.
It cost him nothing (and I mean nothing - the dealership simply handed him a new Audi for the old one) - the dealership was simply thrilled to get the car off the lot, one of maybe 5 they were able to 'sell' that entire year.
Let me know when GM is in the same straights - because that would be interesting. Bloated company making unsuitable products for their market with management with a record over a generation of being consistently wrong on every major decision - going out of business shouldn't take so long.
I get 70 miles per gallon," Schwab said. "I tell them and they shut up real fast."
Schwab owns a Harley-Davidson, a Corvette and a pickup truck. But they've remained locked in his South Jersey garage since he bought his scooter. He rides it daily from Delran, up Route 130, over the Betsy Ross Bridge, to his job in Philadelphia.
Gas prices - now above $4 - have been very, very good to scooter manufacturers, with the Italian-made Vespa leading the pack. Drivers are dumping their cars, buying the gas-sippers to commute to work, and even saddling up for long rides to the Shore.
Sales of Vespas in May more than doubled nationwide as the price of oil rose above $100 a barrel. Americans bought 1,300 Vespas in May 2007. Last month, sales topped 2,700.
that shouldn't be a selling point for people buying luxury cars in that price range.
How old are you, ac? (you don't have to answer that, it's just a rhetorical opening!).
Way back when, when the word "Republican" used to conjure up flinty New Englanders, being rich did not mean wasting money - that was actually considered what poor people did, and in fact what made them poor.
Because nobody could argue back then that the poor didn't work hard, so some other excuse had to be made.
So when the old money rich bought something, it may well have been expensive but it also had to show it was of great value.
That's why Mercedes were the choice of the old money - they lasted forever and just oozed build quality. Beyond that, notice that Mercedes was the diesel car company.
So the claim was that if you could buy a Merc you would save money over the long run. Probably untrue, but it was widely believed.
Nowadays the noveau rich have been programmed to think that the "poor" are that way because they don't work hard, and wealth is something to flaunt. But maybe BMW thinks the tide will turn back.
cnbc is reporting GM sales as follows: "The Detroit automaker saw a U.S. sales decrease of 8.3 percent in June, compared with forecasts among auto analysts of about a 19.3 percent fall."
Some people just can't help sticking their hand in the fire ant hill.
Wall Street pares losses on positive factory data
July 1, 2008 12:24 PM ET
NEW YORK (Reuters) - Stocks pared losses to trade little changed on Tuesday after a report showed U.S. factory activity expanded in June for the first time in five months, offsetting worries about rising oil prices.
The unexpected rise in the Institute for Supply Management's manufacturing index helped to temper oil's gaining more than $2 a barrel to $142.39.
Good time to start a new car company
The market is moving up on the GM sales report. Where would America be without GM?
better off
OT
CFC/ BAC merger is complete. WOW!
crispy&cole, yeah, CFC is gone. I suspect BofA has some write downs coming!!
Best Wishes.
I am not sure what is taking Chrysler so long...they could probably count total sales on one hand
There is a house in Ventura that was sold in December for 1.45 mil to a CFC exec (VP of risk management I believe), it is now for sale for 1.45. It will be interesting to see how much it gets when it finally sells.
You know by the end of the year you might actually be able to get a good deal on a car. These places will be so desperate, the sales staff will be eating bark off trees to survive.
Chrysler's HO probably didn't pay the bill for this month's internets....
Happy Motoring !!!
Dennis Kneale says that the shotgun wedding is a great deal, because there is a chance of a "melt up"....
My GM pick up truck is on its 3rd intake gasket (an exhausting and expensive 8 hour job) . GM can't fail quick enough for me.
In 1998 I was hired to write reports as to why their vehicles and components were failing at the AZ proving grounds. $11.00 an hour and no benefits. They were too cheap to hire an engineer or even a union mechanic. That cost savings worked real well for them.
What's up with the roller coaster today? I haven't been watching.
ac writes:
What's up with the roller coaster today? I haven't been watching.
GM saved the day along with Honda.
No war yet.
Dollar see-sawed.
Nice pump by the schmucks! Making Ben proud!
From the optomists at CNBC
"The Detroit automaker (GM) saw a U.S. sales decrease of 8.3 percent in June, compared with forecasts among auto analysts of about a 19.3 percent fall.
CNBC reports sales figures on an adjusted basis accounting for the number of selling days in the most recent month compared with the year prior. There were 24 selling days in June, compared with 27 days a year earlier"
June Auto Sales: GM Sales Fall Less Than Expected, Topping Toyota - CNBC
jg writes:
Nice pump by the schmucks! Making Ben proud!
Slow and painful ride, let's see if Trichet later in the week can help it along.
GM: 60% Of June Sales In Last 10 Days Vs 50% Usually
posted on the wrong thread :
Im a bit slow today, but wouldnt this mean that they sold 50% more cars in that last 10 days period than in the first 20 days of the month? And without that last minute incentive program, their sales would be 80% of what was actually reported? So, next month, you can kiss those extra sales goodbye. Just wait until they report July. That should be a hilarious figure.
Geoff | 07.01.08 - 2:38 pm | #
GM is going down.
This is it.
I noticed a commercial from BMW advertising the fuel efficiency of their cars.
If that's not a sign of an auto apocalypse I don't know what is -- that shouldn't be a selling point for people buying luxury cars in that price range.
ac writes: What's up with the roller coaster today? I haven't been watching.
My take: short term bototm as forecast, only one day late. Short term top still valid in crude oil. I can't wait to short the markets from higher prices.
Why stuff fails @ GM proving ground?
Heat+ inferior plastic & rubber components=failure.
2:00 pm : The major indices have advanced further from their lows. The upturn was extended on news that a major auto manufacturer posted better-than-expected results.
WTF???
2:00 pm : The major indices have advanced further from their lows. The upturn was extended on news that a major auto manufacturer posted better-than-expected results.
Why hold back?
"Stocks roar higher on June auto sales explosion."
I think that it is slowly sinking in that the good news from GM is anything but. The msm is a wee bit slow, and tends to get the headlines wrong.
And the stock market refuses to plunge after these horrible car sales reports. Unreal - let's hear it for stupid bulls, the PPT, and short-covering!
crispy&cole writes:
I am not sure what is taking Chrysler so long...they could probably count total sales on one hand
crispy&cole | Homepage | 07.01.08 - 2:26 pm | #
Mark to model programs take a long time...
Very good, d-!
Why Won't the Stock Market Panic Already?
Why Won't the Stock Market Panic Already? - CNBC
since they announced they are closing one plant in St. Louis, and cutting out a shift on another one, their sales number can't take long to add up.
CFC is gone
so now it's the S&P 498?
thats it, the market has gone green, its time to shut it down, and go hit golf balls out the back door.
Remember the Audi sudden acceleration public relations debacle of the mid-1980s?
I knew someone that traded in his Audi with ca. 125k miles for a brand new Audi.
It cost him nothing (and I mean nothing - the dealership simply handed him a new Audi for the old one) - the dealership was simply thrilled to get the car off the lot, one of maybe 5 they were able to 'sell' that entire year.
Let me know when GM is in the same straights - because that would be interesting. Bloated company making unsuitable products for their market with management with a record over a generation of being consistently wrong on every major decision - going out of business shouldn't take so long.
Gm 61mm shares traded....
Does anyone think this decline was sustainable? Turn the DOW upside-down (or look at DXD) and it's gone parabolic!
But the massive volume at these lows means we'll return here to test it again; just a matter of when.
It's the first day of the 2nd half recovery!
It's the first day of the new quarter!
This is the day the JA's with OPM get to buy with new 401k money, so the story goes.
It's one of the Great gifts of WS!
Party on!
Sales of Vespa scooters rise with gas prices
philly.com: Philadelphia local news, sports, jobs, cars, homes
I get 70 miles per gallon," Schwab said. "I tell them and they shut up real fast."
Schwab owns a Harley-Davidson, a Corvette and a pickup truck. But they've remained locked in his South Jersey garage since he bought his scooter. He rides it daily from Delran, up Route 130, over the Betsy Ross Bridge, to his job in Philadelphia.
Gas prices - now above $4 - have been very, very good to scooter manufacturers, with the Italian-made Vespa leading the pack. Drivers are dumping their cars, buying the gas-sippers to commute to work, and even saddling up for long rides to the Shore.
Sales of Vespas in May more than doubled nationwide as the price of oil rose above $100 a barrel. Americans bought 1,300 Vespas in May 2007. Last month, sales topped 2,700.
Management goons were spinning GM will have a positive 2H08... 15 million SAAR area. They. Are. Smoking. Crack.
10 million SAAR by June 2009.
How old are you, ac? (you don't have to answer that, it's just a rhetorical opening!).
Way back when, when the word "Republican" used to conjure up flinty New Englanders, being rich did not mean wasting money - that was actually considered what poor people did, and in fact what made them poor.
Because nobody could argue back then that the poor didn't work hard, so some other excuse had to be made.
So when the old money rich bought something, it may well have been expensive but it also had to show it was of great value.
That's why Mercedes were the choice of the old money - they lasted forever and just oozed build quality. Beyond that, notice that Mercedes was the diesel car company.
So the claim was that if you could buy a Merc you would save money over the long run. Probably untrue, but it was widely believed.
Nowadays the noveau rich have been programmed to think that the "poor" are that way because they don't work hard, and wealth is something to flaunt. But maybe BMW thinks the tide will turn back.
He rides (his vespa) daily from Delran, up Route 130, over the Betsy Ross Bridge, to his job in Philadelphia.
Somebody's got a death wish. The Betsy Ross isn't the problem it's I-95.
cnbc is reporting GM sales as follows: "The Detroit automaker saw a U.S. sales decrease of 8.3 percent in June, compared with forecasts among auto analysts of about a 19.3 percent fall."
CR has GM at 18.2...why the difference?
Some people just can't help sticking their hand in the fire ant hill.
Wall Street pares losses on positive factory data
July 1, 2008 12:24 PM ET
NEW YORK (Reuters) - Stocks pared losses to trade little changed on Tuesday after a report showed U.S. factory activity expanded in June for the first time in five months, offsetting worries about rising oil prices.
The unexpected rise in the Institute for Supply Management's manufacturing index helped to temper oil's gaining more than $2 a barrel to $142.39.
moms:
18.2 is month-to-month. 8.3% is YoY, adjusting for 3 fewer selling days.
Come back you. It's just a flesh wound.