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GM shares shoot up 2.10!

Drew Dowdell

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Deutsche Bank upgrades GM,Ford to BUY


SAN FRANCISCO (MarketWatch) -- General Motors Corp. and Ford Motor Co. shares were in rally mode early Friday after Deutsche Bank upgraded both automakers to buy from hold in the belief that strides in health-care negotiations could pave the way to profitability.

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Just to be clear, I've listed GM as a "BUY" for months now..... and I hold XXXX shares.

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Too bad there aren't going to be strides in negotiations.

GM execs put brakes on labor-savings hopes

Top execs say they expect more cost savings in '07 labor deal, but not to look for deep job cuts, retiree health savings.

But retiree health-care costs, which are greater than health-care spending on active employees, will not be addressed in this year's negotiations because the deal on that issue reached in 2005 runs through 2011.

"That's an agreement we intend to respect," Clark said.

So retiree health-care costs aren't budging until 2011. That's not one of GM's biggest cost issues right now or anything. :rolleyes:

Clarke also cautioned investors that the so-called jobs bank, in which hourly employees who are laid-off continue to receive near full pay while not working, might not be eliminated in the upcoming contract.

"The jobs bank is an important element for review in the agreement," said Clarke. "Truthfully, I don't want to box myself in by saying the jobs bank has to go, because there's probably other alternatives. But I will tell you we want all of our people productively employed. That's the right thing for us."

Ah, reading this just solidifies in my head that the union has to go. People getting full pay for sitting around with their thumbs up their asses. What a great way for GM to waste precious money.

Edited by bcs296
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Didn't the BM say GM stock was going to tank several months ago? Kinda wish he was still around so he could avoid this topic.

Just go over to GMI. He's still flapping his gums about GM on the verge of collapse without his wonderful expertise. It's not really funny anymore. Just sad.

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Caddy fan is right. Bowel Movement, i mean buick man, is sounding desperate.

GM's stock will continue to do a decent rise. Ford? not so sure. some folks are saying they cannot go any lower. i don't see much hope for them in the short term. At least Steve Wilson at channel 7 in detroit shamed mark into dropping the weekly corporate jet commute from florida to detroit. that is a drop in the bucket compared to where ford is hemmoraging. ran into a guy at the bank yesterday that took his buyout. left wixom and took the $$. in his early 50's and really still wants to work. sad.

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