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Tue 12 Feb, 2008 12:50 pm
Maybe they were expecting a $1B loss?
This is just further proof that Wall Street hates Michigan.
Re: GM Reports $722M Loss, Market Goes up 200 points
cjhsa wrote:Maybe they were expecting a $1B loss?
This is just further proof that Wall Street hates Michigan.
That was not why the market went up. This is why:
Quote:Buffett's Bond Offer Rallies Stocks
February 12, 2008 3:24 p.m.
Investors bid shares higher across the board as they bet that the worst is nearly, if not quite, over for troubled financial firms and the broader economy.
In particular, stock buyers welcomed news that Warren Buffett had offered to reinsure municipal bonds. The development, together with a government plan to aid troubled mortgage borrowers, rallied financial stocks.
http://online.wsj.com/article/SB120281558471461989.html?mod=yahoo_hs&ru=yahoo
General Motors Corp. appeared to please investors with a fresh round of buyouts to all 74,000 of its U.S. hourly workers represented by the United Auto Workers. The company also reported losses of $38.7 billion in 2007, the largest annual loss for an automotive company.
I know about Buffett, but his offer was chump change compared to this.
Buffett= chump change
interesting but really stupid
What's really stupid is when you don't read my posts and just choose to attempt to insult me with your vastly inferior reasoning.
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