Brandon - doesn't Sirius have a better, more profitable deal with ford than GM? I seem to recall someone here mentioning that GM was given a really sweet deal compared to the other US manufacturers to get satrad going?? Perhaps this is going to be a "blessing in disguise"???Originally Posted by Brandon Matthews
Yes, but they wont use this trick too long. There are literally no sellers at .32 or .33 cents. ZERO!!!!! They only way to get them to sell is to drop it sub .30 again, and they wont do that due to traders being ready this time to buy buy buy. I watched KB Homes trade one day. Talk about manipulation, I suspected only 10% of the entire day was actual orders. It was a battle of 100 shares back and forth all day. It was literally reprehensible. MM's dont like it to just sit their with no volume for hours(what would happen if they keep it at .33 much longer, so they move the price around trying to draw some buyers or sellers. This tight range is going to be a huge break to the upside eventually.(back to .39 min).I'm really starting to feel sorry for those poor MM's - having no one to buy from except themselves! What a pity!
GMAC to make car loans available to more buyers
Washington -- GMAC will earmark $5 billion for consumer auto loans over the next 60 days, pledging immediate action to ease lending conditions for auto dealers and consumers.
The Detroit-based auto and mortgage finance company said this morning it will accept automotive finance applications for customers with credit bureau scores less than 620 and is cutting interest rates on new vehicle financing for well-qualified customers by 50 basis points.
"Customers will still need to qualify, but this will expand the credit available to a broader spectrum of buyers," GMAC said in a statement. GMAC will also cut rates on used car financing.
http://www.detnews.com/article/20090...to+more+buyers
Brandon,
This is confirmation of what others have been saying all along...there may be declining Auto sales and production at Certain companies...but increases at others will be noticed as well. Sirius benefits either way as penetration rates are increasing at all Auto manufacturers..as an example....BMW now has SATRAD as standard equipment in ALL of its models starting this year. I own Ford Stock. and I expect them to be the real beneficiaries of what is going on with the BIG 3. They were smart enough through some early foresight to set themselves up to withstand alot of the current financial issues that the other American companies simply chose to turn a blind eye to!
very much so...
There are none there because they took them all out this morning. Beware, there are million on the bid at .30.
GM WILL file for BK. The true goal of that would be to redo every supplier contract they have. They pay out way too much. Some of these supplier contracts have probably been around for years, buddy buddy system running rampant with complacent GM employees. SIriusXM contract would be null and void if they split the company in two(other wise the BK should have no effect on the Sirius contract). They pay GM, GM pays their suppliers. Those will be torn up.
Do you happen to know how much cash Ford has in hand right now and
how much they lost last quarter? Just wondering how long Ford can hold out in these tough market conditions before they have to close more plants,
and lay off more people. Does everyone think they can completely avoid
taking Govt money?
out and for without taking Govt money or closing more plants and laying off more people
HMMMMM just wondering who will jump on this one first....lol
How about you? LOL. Check out the politics section if you havent already.
lol.
