http://media.gm.com/servlet/GatewayServlet...amp;docid=55359

On this note, I'm glad I didn't follow my own advice that I posted a few years back and buy GM stock.

I hear the cetificates make good wall paper.

Yeah, thanks for rubbing it in GM. At least Saturn sent a "We value you as a customer" form letter. As a shareholder they just pretend you never existed now.

don't some folks purposely lose money in stocks for tax writeoffs?

don't some folks purposely lose money in stocks for tax writeoffs?

Ehhhhhhhhhhhhhhhhhh yes, but you cant offset income with capital losses; only other capital gains.

They should have been giving similar warnings for the past several years!

People who are trading the stock now deserve what they are about to get. Feel sorry for us taxpayers who have no choice in the matter.

don't some folks purposely lose money in stocks for tax writeoffs?

My strategy all along. (I'm found out)

I talked-it-up as it was buoyant (seemed so at that time) around $16.00/share. Buoy oh buoy.

They should have been giving similar warnings for the past several years!

People who are trading the stock now deserve what they are about to get. Feel sorry for us taxpayers who have no choice in the matter.

I think if you knew the options there wouldn't be much a choice.

My strategy all along. (I'm found out)

I talked-it-up as it was buoyant (seemed so at that time) around $16.00/share. Buoy oh buoy.

LOL Well, it is an in"vest"ment. lol

:scratchchin :

I think if you knew the options there wouldn't be much a choice.

Why don't you tell me about how great this deal is:

I live in Canada. We paid ~10 Billion. Best-case (by their own admission) GM will have 5,500 jobs here by the end of the year and they are all located within one small area of one province. That is roughly $2,000,000 per job saved. I know people like to talk about spin off jobs, but the reality is that eventually we are going to have to cut services or raise taxes to pay for this and that will just as likely kill as many jobs. More to the point, we could have paid an equivalent number of workers $50,000/year for 40 years to work on infrastructure projects and would have had an even greater economic impact as most of the money would have stayed in Canada rather than having GM shuffle it out.

Unlike the US of the past decade plus, in Canada we have been running budget surpluses. We don't have the irrational US knee-jerk reaction to taxes, but at the same time we realize that when the government spends money you do eventually have to pay it back. Just to give you an idea of how relatively-wasteful this is, the GM bailout represents 1/5th of Canada's entire projected deficit this year.

I can only hope that we manage to get some return on this.

Edited July 6, 200915 yr by GXT