...

[Chris_Doane]

.... Edited October 14, 2006 by CD/BP

[lakefire]

good time to buy some stock in GM

[Ghost Dog]

good time to buy some stock in GM

[post="61527"]<{POST_SNAPBACK}>[/post]

Nah not till the Delphi thing is settled.

[goblue1999]

At least that explains the current, sub $20, weakness. Let's hope he's not giving up, just booking some losses for the tax year. If he gives up, GM is sunk.

[rueben44]

Gee that does not sound good.......

[Chazman]

Maybe Kerkorian's trying to send GM a message.

[johnnyb]

Maybe Kerkorian's trying to send GM a message.

[post="61621"]<{POST_SNAPBACK}>[/post]

"I'm losing money" :P

[Chazman]

"I'm losing money"  :P

[post="61650"]<{POST_SNAPBACK}>[/post]

Or....

Give me a seat because I can manipulate your stock price.

BTW, am I the only a$$hole that bought GM at $64 per share?

[Guest Josh]

I sold my GM stock when it was near $50 a share for a loss of a few grand. Now, I'm looking at it again, but I agree about the Kerkorian message. Wagoner can't expect things to continue on like this without serious "head calling" from shareholders.

[VenSeattle]

If he's trying to fight dirty then he's gambling, because if GM goes Bankrupt by his antics Kerkorian will be the big loser.

If he's not playing dirty and just trying to cut his losses then one has to ask: Was he dumb for investing in GM stock to begin with or is he dumb selling it at a loss? Both?

Regardless of which, he has at least one black mark on his investing record... it looks like he'll end up with more before this is over.

[Newbiewar]

If he's trying to fight dirty then he's gambling, because if GM goes Bankrupt by his antics Kerkorian will be the big loser.

If he's not playing dirty and just trying to cut his losses then one has to ask: Was he dumb for investing in GM stock to begin with or is he dumb selling it at a loss? Both?

Regardless of which, he has at least one black mark on his investing record... it looks like he'll end up with more before this is over.

[post="61778"]<{POST_SNAPBACK}>[/post]

this guy is likely to loose a whole lot of money, he currently has already lost about 1 billion i think if not more...

its too late for him to pull out, he cant do it all at once, it would throw the entire market into a depression... no one can or will buy 100 million shares... if he sells he must do it slowly, and the more he sells the lower it goes... he cant get out wiht $20 a share... if he starts to pull out too much it'll be about 12-15$ before hes done...

Kirk is stuck in it... and has very small leverage... but he doesnt mind gambling... thats why he uses big risk companys...

[91z4me]

Guys what if he is doing this to make it look like a loss for tax reasons. After the 1st he could buy back those shares at a, most likely, lower price. When you have that many shares and that much invested it is kinda easy mess the marketing of a specific stock up.

[Hogans_Heroes]

Guys what if he is doing this to make it look like a loss for tax reasons.  After the 1st he could buy back those shares at a, most likely, lower price.  When you have that many shares and that much invested it is kinda easy mess the marketing of a specific stock up.

[post="61869"]<{POST_SNAPBACK}>[/post]

He can't buy back for a more extended period of time. If he were to do so, the IRS would disallow the short-term capital loss to mitigate the capital gain on the unrelated transaction. Tracinda said in its SEC filing they would consider repurchasing the shares but only if it wouldn't impair its ability to recognize the loss for tax purposes.

[91z4me]

He can't buy back for a more extended period of time.  If he were to do so, the IRS would disallow the short-term capital loss to mitigate the capital gain on the unrelated transaction.  Tracinda said in its SEC filing they would consider repurchasing the shares but only if it wouldn't impair its ability to recognize the loss for tax purposes.

[post="61887"]<{POST_SNAPBACK}>[/post]

So they might buy it back the day after the SEC doesn't consider it for tax purposes, right?

[David]

Keep in mind he has some large gains to offset this year so this just looks like smart tax adjustments to me. Use GM to offset gains on other stocks. :)

[Drew Dowdell]

I agree with the Tax loss scenario. The man got into GM. You don't throw this kind of money around for the hell of it.

[Hogans_Heroes]

So they might buy it back the day after the SEC [IRS ] doesn't consider it for tax purposes, right?

[post="62075"]<{POST_SNAPBACK}>[/post]

That's right. They could do that. Edited December 21, 2005 by Hogans_Heroes