SIRI Intraday Thread: Tuesday March 31st

[lloyd Handwerker]

Headline on NYtimes. "GM bankruptcy is now probable". That is a quote from the new chief of GM. That is what must be driving stock down.

Didnt get that quote fully correct. It should read."Bankruptcy is now MORE
probable". Sorry about that.

[Brandon Matthews]

I'm such a hypocrite. A few months ago I was screaming for Sirius to do whatever it could to avoid bk. Today I'm wishing GM would do it quickly and get it over with. Then God planted the thought in my head ...what about the gm shareholders..now I feel bad.

[Brandon Matthews]

Interesting...got about 250k more shares to clear out at .33. Anyone think they'll take it up after that?

[SiriusHope]

IRS just announces that sales taxes for new cars will be deductable on income tax even if you don't itemize.

[Beach Gambler]

I'm such a hypocrite. A few months ago I was screaming for Sirius to do whatever it could to avoid bk. Today I'm wishing GM would do it quickly and get it over with. Then God planted the thought in my head ...what about the gm shareholders..now I feel bad.

I am ashamed to be on the same planet with you, you heartless person you!
Hey I have to check my thoughts daily too for the same reasons. ; We are human

[Sheree]

JP Morgan: Odds of GM, Chrysler bankruptcy have diminished 03/30 06:36 AM



JP Morgan believes odds of a General Motors (GM:$2.39,00$-0.31,00-11.48%) or Chrysler bankruptcy have been diminished following recent commentary from Washington and they think investors can now "increase their risk appetite" in the sector.

Brandon, I always feel bad for the shareholders because I seem to always be one of them!

[Dave Davis]

Interesting...got about 250k more shares to clear out at .33. Anyone think they'll take it up after that?

I want to thank the sellers for these bargain-priced shares

[choirgirl]

Sheree, and in a long and boring press-conference he said it is a possibility but not very likely because they making progress on every front.
It will take these 60 days, maybe less , to get this behind us.

lloyd, it actually said "Bankruptcy Is Now ‘More Probable,’ New G.M. Chief Says"

One word changes the sentence. Yesterday JPM issued a statement saying they thought odds were higher with the new 60 day deadline, of GM being able to avoid bankruptcy.

[exilejeff]

how much time do you think i have before the GM stock drops below $2, maybe by tomorrow? or do you think it will hold out a bit until it gets closer to the 60 day deadline

[Sheree]

Thanks Choirgirl. I've been watching the news conferences and thought the ones yesterday sounded more positive then those today. I guess only time will tell.

exilejeff, I think you will just have to decide if you personally believe GM is going bankrupt to know if you should sell the shares you own at this price.