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http://network.nationalpost.com/np/.../2008/10/09/ford-shares-cheaper-than-gas.aspx

Ford shares cheaper than gas
Posted: October 09, 2008, 10:55 AM by Nicolas Van Praet
Shares in Detroit's two publicly-traded automakers plunged Thursday over concern they may run out of money to fund their turnarounds before U.S. auto sales rebound.

General Motors Corp. stock fell nearly 15% in early trading on the New York Stock Exchange, dropping below US$6 a share for the first time since the summer of 1951, according to MarketWatch.

Shares in Ford Motor Co. sank 4% to US$2.55, making one Ford share cheaper than a gallon of gasoline in the United States.

The average price for a gallon of gasoline cost $3.18 in Detroit and $3.36 nationally as of Thursday morning, gasbuddy.com reported on its website.

Sales at the six largest auto-makers in the United States tumbled 27% collectively in September from a year earlier, an almost unprecedented drop that caps the longest U. S. industry-wide sales slide in 17 years. As the U.S. new-vehicle retail market continues to deteriorate, new-vehicle retail sales are projected to end 2008 at 10.8 million units, which is 2 million units below 2007 sales, J.D. Power and Associates said in a new forecast Thursday.

"Buyers are both voluntarily and involuntarily exiting the U.S. new-vehicle market," said Jeff Schuster, executive director of automotive forecasting for J.D. Power and Associates. "The additional decline in expected vehicle sales is a function of growing concerns around availability of credit and leasing, declines in vehicle equity and general economic stress."

Investors are growing increasingly worried that GM and Ford in particular will not be able to offset weak domestic sales with international growth. Sales in emerging markets such as China are slowing as well.

GM is considering selling its Detroit headquarters, the Renaissance Center, and leasing it back to shore up cash.
 

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"GM is considering selling its Detroit headquarters, the Renaissance Center, and leasing it back to shore up cash."

I wonder about that, especially since they have entered into talks with Cerubus to buy them out of Chrysler... After that take over they could package Jeep with Hummer and sell the two Military Icons of several wars and get their money back. But you have to wonder about what they are left with and just how valuable it is... :confused:
 

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I am afraid to look at my retirement account balance!!!!! :shock: :shock: :shock: :shock:
 

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cbramsey said:
I am afraid to look at my retirement account balance!!!!! :shock: :shock: :shock: :shock:
I broke down and looked at mine.......... :cry: Two weeks ago. It was down 16.4%.(since January) Last Friday, it was down 39.6% . Not too bad I guess. It's been in the news how some have lost Everything!!!
 

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im glad i have guaranteed RRSP's, and am currently working towards a government pension. (department of national defense aka DND). 6.2yras in, and 18.8 to go, HAHA
 

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I was considering trading the escape, for that SR5 turbo diesel hilux. Things do not look overly promising down under also. It is far too risky trading in. Will keep my escape and be more discerning. Do not want to risk being retrenched, and stuck with a loan for a new car. :)

Would rather be patient and observe how things pan out. So henceforth my hilux project has been cancelled. :cry: Just needed to squeeeeeeeeze this post in! :) :lol: Getting there in stages. The perspiration has been induced by effort. Once i get to post number 900 it will then be relaxing. Then my reaction can be 'AAAH! That feels better' and partake of a preliminary celebration drink. :beer:
 

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stone said:
Just needed to squeeeeeeeeze this post in! :) :lol: Getting there in stages. The perspiration has been induced by effort. Once i get to post number 900 it will then be relaxing. Then my reaction can be 'AAAH! That feels better' and partake of a preliminary celebration drink. :beer:
Aah, but posting should not be work, stone. It should be something that is enjoyable. I find that going with the flow and taking it as it comes, can be so much more relaxing. Sometimes when you don't try so hard, things come much easier. :yes: ;)

Have a great day, stone !! :)

Edit: At least that's my philosophy as far as posting goes. In life, I am the person who has a plan, a back-up plan, and a back-up to the back-up plan. :lol: Yea, I know, probably a bit excessive.
 

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Colleen said:
stone said:
Just needed to squeeeeeeeeze this post in! :) :lol: Getting there in stages. The perspiration has been induced by effort. Once i get to post number 900 it will then be relaxing. Then my reaction can be 'AAAH! That feels better' and partake of a preliminary celebration drink. :beer:
Aah, but posting should not be work, stone. It should be something that is enjoyable. I find that going with the flow and taking it as it comes, can be so much more relaxing. Sometimes when you don't try so hard, things come much easier. :yes: ;)

Have a great day, stone !! :)

Edit: At least that's my philosophy as far as posting goes. In life, I am the person who has a plan, a back-up plan, and a back-up to the back-up plan. :lol: Yea, I know, probably a bit excessive.
I am conservative to a fault. I think your getting a little excessive Colleen... :peace: One back up to the back up plan should suffice. :doh: :yes: :D
 
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