Citigroup and General Electric Failing?

[HerefordSire]

This could put the US automakers on the back burner for awhile. Thomas Edison started GE. No other US bank is large enough to buy Citigroup. This could get scary.

 

[bandit80]

This could put the US automakers on the back burner for awhile. Thomas Edison started GE. No other US bank is large enough to buy Citigroup. This could get scary.

You seem to know your stuff when it comes to financial things. Looking at the stock price action compared to BearStearns and WaMu, their seems to be an eary similarity. I was hoping things were straightening out, but I am afraid it is just the start.

 

[HerefordSire]

A China investment fund is in talks of buying a 49% stake in AIG, the world's largest insurance company. The rise of the dragon.

Ford is trading close to $1.00 per share. GM, well I think she is around $2.00 per share and valued at $1B market cap.

 

[HerefordSire]

This could put the US automakers on the back burner for awhile. Thomas Edison started GE. No other US bank is large enough to buy Citigroup. This could get scary.

You seem to know your stuff when it comes to financial things. Looking at the stock price action compared to BearStearns and WaMu, their seems to be an eary similarity. I was hoping things were straightening out, but I am afraid it is just the start.

I am hearing Bear Stearnes was holding a massive short position (30% of entire market...aka Hunt brothers..) in silver in an attempt to keep gold down. The Commodity Futures Exchange would not normally allow this much of the market cornered unless our government allowed the control to keep the dollar increasing in value. Bear must have crossed someone high up like Paulson or Bush, etc., and the next thing you know JP Morgan owns the short position by buying Bear for 2, bits, 4 bits, 8 bits per share.

 

[bigbull338]

the bottomline is all the big banks auto makers an other companies have their hand out wanting money.an the gov is giving away billions.i wish they would give me $10 million to help with the farm.

 

[HerefordSire]

BB...the other day the US senators had the big three auto execs sitting in front of them being interrogated. One senator asked the three CEOs to raise their hand if they thought flying to the meeting in a $20,000 chartered jet was inappropriate since they are wanting $25B. No hands were raised. Blew my mind when I saw that.

 

[bigbull338]

that didnt shock me 1 bit.them big exces aint gonna fly comm.they gonna fly in the company jets.the like styling an profiling to much.to cut everything to the bare bone an save money.

 

[Limomike]

funny you say that... When Bob Crandell was the president of American Airlines, he always flew commercial, and he sat at the back of the plane.. so he could smoke (back when you could smoke on planes )and leave the first class seats open to paying passengers. He was one tough dude when doing negotiations with the unions, and he kept that airline profitable during some struggles in his tenure.

 

[GMN]

I hope the Citigroup corporations rot in _ell, they are all a bunch of crooks!

GMN

 

[HerefordSire]

that didnt shock me 1 bit.them big exces aint gonna fly comm.they gonna fly in the company jets.the like styling an profiling to much.to cut everything to the bare bone an save money.

BB...read this (just hit the wires):

http://biz.yahoo.com/rb/081121/business_us_gm.html

 

[HerefordSire]

Citigroup's dividend is 10% trading a little over $4 per share. You know they will remove their dividend. That will upset the Saudi Prince.

 

[1982vett]

Naw, I'll bet he has a deal to to get a return for his additional stake his is supposed to be buying.

GM returning two of it's 5 leased jets is much like when I sold 2 of the 5 tractors I had. Most likely weren't being used anyway.

 

[HerefordSire]

Naw, I'll bet he has a deal to to get a return for his additional stake his is supposed to be buying.

GM returning two of it's 5 leased jets is much like when I sold 2 of the 5 tractors I had. Most likely weren't being used anyway.

Citigroup traded over 1 billion shares today and still trading after market.

 

[1982vett]

Supposed rumors (already forgot if I read it or heard it) is something is going to happen at Citi before Monday. Your guess is better than mine as to what it might be.

 

[Brandonm22]

Naw, I'll bet he has a deal to to get a return for his additional stake his is supposed to be buying.

GM returning two of it's 5 leased jets is much like when I sold 2 of the 5 tractors I had. Most likely weren't being used anyway.

You would be surprised. My sister used to work for Regions (one of those banks that just got a few billion of YOUR tax dollars). It was NORMAL for them to tell her (and she wasn't a bigtime executive like a CEO, CFO, COO, President, VP, etc that had the power to actually call on the plane) "We need you at a _________(conference, meeting, discussion) in _________(Memphis, Charlotte, Atlanta, New Orleans, D.C.),take the jet". They would jet her for a day meeting and jet her back again and a lot of times she was the only person on the plane (other than the pilot, copilot and stewardess). It was not unusual for her to land in three states in a day. The cost of jetting her around was many times more than her gross salary. I suspect that GM, Ford, and Dodge upper management operate in much the same way.

 

[HerefordSire]

Supposed rumors (already forgot if I read it or heard it) is something is going to happen at Citi before Monday. Your guess is better than mine as to what it might be.

I heard Rick Santelli of CNBC picked up on something. They aparrantly are going to be sold this weekend OR the fed might inject a couple hundred billion into them to keep them alive. Watch out for Goldman, JP Morgan, and Morgan Stanley.

Here is another bank that just bit the dust:

http://biz.yahoo.com/bw/081121/20081121005837.html?.v=1

 

[hurleyjd]

Here is another failure, may be in JO's neck of the woods.



On November 21, 2008, The Community Bank, Loganville, GA was closed by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
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