Kludge
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- Dec 21, 2007
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And the source of the unprecedented autos rally is revealed!
http://online.wsj.com/article/SB121665105428770331.html?mod=MKTW
"GM Dealers Buy Stock
In Show of Confidence
By JOHN D. STOLL
July 21, 2008 12:23 p.m.
Several General Motors Corp. dealers are buying stock in the company as a way to show support for the auto maker's embattled management team, and to take advantage of what they see as a good value.
GM's 20-member dealer council snapped up $1.1 million of the auto maker's stock last week, or 107,000 shares, Duane Paddock, one of the heads of the organization and the owner of Paddock Chevrolet in Kenmore, N.Y., said. Mr. Paddock said the shares were purchased at an average price of $9.88, meaning the group is already showing a strong return.
GM shares recently traded at $13.51, up 2.5% over Friday's closing price. The stock has rallied from five-decade lows in recent sessions as investors digest the auto maker's new plan to raise $15 billion in liquidity through 2009 by cutting costs, raising fresh financing and selling assets."
http://online.wsj.com/article/SB121665105428770331.html?mod=MKTW
"GM Dealers Buy Stock
In Show of Confidence
By JOHN D. STOLL
July 21, 2008 12:23 p.m.
Several General Motors Corp. dealers are buying stock in the company as a way to show support for the auto maker's embattled management team, and to take advantage of what they see as a good value.
GM's 20-member dealer council snapped up $1.1 million of the auto maker's stock last week, or 107,000 shares, Duane Paddock, one of the heads of the organization and the owner of Paddock Chevrolet in Kenmore, N.Y., said. Mr. Paddock said the shares were purchased at an average price of $9.88, meaning the group is already showing a strong return.
GM shares recently traded at $13.51, up 2.5% over Friday's closing price. The stock has rallied from five-decade lows in recent sessions as investors digest the auto maker's new plan to raise $15 billion in liquidity through 2009 by cutting costs, raising fresh financing and selling assets."
