Texas dealers offers 50 GM shares to GM vehicle buyers
Two brothers that own dealerships in Texas peddling the General's wares decided that the best way to combat the inevitable depreciation inflicted on their customers is to give them 50 shares of GM stock.
The promotion involves the first 100 buyers (for GM's 100-year anniversary) and 5,000 shares in GM that the siblings bought at the end of last week. GM stock is floating between $6.00 and $7.00 today, meaning that the lucky 100 will have something in the neighborhood of $300-350... assuming GM's stock hold steady.
It being Friday afternoon and an excruciatingly long week, we'll let you make the jokes in the comments below.
[Source: Automotive News - Sub. Req.]
Reader Comments (Page 1 of 2)
JCoke 5:33PM (10/17/2008)
In for a penny, in for a pound I guess.
Better way to combat depreciation would be to sell them a Honda though....
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Gabagool 7:36PM (10/17/2008)
I think it would be much better if the dealer offered a free NAV or a premium audio
Brn 9:36AM (10/20/2008)
Buy low, sell high. Why does everyone always forget that? GM is low. I'll take GM stock over Honda stock right now.
JCoke 11:47AM (10/20/2008)
There has to be a reasonable expectation that there will be a high... barring some massive government intervention, its only going to go lower.
And my expectations for a government run car company... yeah.
TJ 5:37PM (10/17/2008)
Hey, the stock at least has A chance of appreciating over time.....
Which would you rather have split, your car or your stock?
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Travis 5:42PM (10/17/2008)
the way things are going, a free tank of gas will probably be worth more...
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hyundaifans.com 7:42PM (10/17/2008)
Ouch!
jgp 8:36PM (10/17/2008)
What, with gas below $3 and falling now?
Taylor 7:31PM (10/20/2008)
Gas isn't below $3 in california...
-Taylor
TyWright 5:44PM (10/17/2008)
Seems like a good way to lose money.
GM is dooooomed!!
Other than the 1 ton and the Vette, is anything cool?
Um no.
Will be fun to watch them take Chrysler down with them.
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TJ 5:49PM (10/17/2008)
Fun? You are one depraved soul.
Mobius_1 5:45PM (10/17/2008)
As if the depreciation on the car isn't bad enough...
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iohoohiooh 5:58PM (10/17/2008)
This is stupid. I liked the dealer that was giving away the guns better. At least than you could shoot the S.O.B. The car people, shoot the car!
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TT 8:33AM (10/20/2008)
Was that shoot the car, or shoot the car people?
MRX19 5:59PM (10/17/2008)
"Will be fun to watch them take Chrysler down with them" Very sad to see this type of thinking expressed on this site and others. While agreed Detroit has caused many of its own problems, the last thing this country needs if for this industry to disappear offshore lake may others. What is it, 1 in every 14 jobs in this country are auto related. Think about it.
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pyvo13 6:15PM (10/17/2008)
If you think that auto industry can disappear with the big 3, you are mistaken. Auto jobs will stay here, as the demand for cars is bound to increase. All major car companies have factories in the US, so what makes you think that 1 in 14 jobs will disappear with GM or FORD? Being overly protective of inefficient companies that seem to be 'american' hurts no-one but consumers and investors.
DL 6:11PM (10/17/2008)
Take that 50 shares and cash it at a Chrysler dealer?
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koni 6:31PM (10/17/2008)
pyvo: why do you think the imports began manufacturing stateside? To make it seem they are as American as the domestics. With no domestics left to make them look bad, the imports will move manufacturing to lower cost countries (provided the dollar will more valuable than TP in the future) and the already pathetic US manufacturing base will shrivel further.
Eventually the China/India/Canada will invade and all we'll be able to do is throw our iPods at them in defense. Obviously a bit dramatic, but without manufacturing, US CANNOT survive as a service economy for long. Our education is awful and getting worse fast. Just look at the herd of retards graduating HS/college every year. Given the choice, I would hire a 15yr old Russian/Chinese kid over an American college grad any day...
kballs 6:38PM (10/17/2008)
This reminds me of the phrase you use when something is overpriced:
"I just want the [item], not stock in the company!"
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DC 6:48PM (10/17/2008)
That 350 would be better if used as toilet paper rather than investing in GM right now.
Headlines of the future:
*GM now offering its stocks as a standard accessory*
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