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GM lowering credit score requirements to move vehicles now!!!
GMAC to relax lending standards
8:16a ET December 30, 2008 (MarketWatch)
BOSTON (MarketWatch) -- GMAC Financial Services, the lending unit of General Motors Corp. , on Tuesday said it will restart auto financing for more U.S. customers because it has better access to funding after converting to a bank holding company. GMAC said it will modify its credit criteria to include retail financing for customers with a credit score of 621 or better, compared with the 700 minimum score implemented two months ago. "The actions of the federal government to support GMAC are having an immediate and meaningful effect on our ability to provide credit to automotive customers," said President Bill Muir in a statement. "We will continue to employ responsible credit standards, but will be able to relax the constraints we put in place a few months ago due to the credit crisis."
This is gonna hurt another old US major component stock badly...
I do not hold this stock either. I believe the new wave & future is going to be in many small caps as it was after 1933...
Banking license is wonderous thing, as in being granted one, you now can have the US Treasury give you 10:1 ration on your cash asset absis, meaning if you had $1 Billion, the US Treasury will give you $10 Billion to utilize in loans to others...
One reason a few years back a stink was raised when word was Bill Gates was considering getting a bank license (against his personal net worth then), as with his cash asset base then, he could have literally wiped out every major US bank (if he wanted to) and "THEY" did not want this to happen and he was refused a banking license then.
Your post is true and many on here I agree with, though I did not vote for Obama, he is surrounding himself with skilled people so only time will tell if he was a good choice or just another political move for the growing majority minority population feeling they finally have got their day in America after 40+ years of MLK rederick....
Now, truth is, if we educated every child in our education system as to reality and factual life-needing skills and as to how banking is the basis of this nation and globally since 1933 and creation of Federal Reserve System here in America; we would NEVER have seen such massive abuses of personal credit and slow elimination of wealth from the majority of former middle class that always existed in America and which everything as far as comemrce was based upon and against... Now it is all hitting the fan and self destructing, and bankers today still, talk & act like hypocrites and this is the problem that bothers me after all the $$ Billions we gave them free as they were at the basis of this last decade's massive real estate ponzi scheme to get more wealth from the majority of citizens with tricky loan programs and thousands of various brokers all tied to the idustry until this massive bubble imploded as it is before our eyes... Still the problem is we do not educate our children about budgetting, credit usage, banking structures and such that are part of our lives including credit scoring agencies and how and why they do what they do; as we essentially push people into adulthood and market everything under the sun to them and so many supposedly educated people really do not know all they ought to before they get out into the real world...
When you are at the bottom, you can only go up as there is literally no downside risk left (for many corps) and unlimited upside to benefit from... I get my positive energy from post 1929 era and what became then of no-name or heavily beaten companies then that "still" provided long term products/commodity consumers needed for their existence regardless of what happened in time...
Enterra Energy and many smaller cap issues can easily become like many predecessors after 1929 nobody heard marketed heavily then, which later became hosuehold names and mega winners for those who bought & invested in them and had patience..
Amazing times for sure, but what is enticing to see, is actual trade volume for this corp even at the worst possible time in all of US history & considering global markets; this may signal something special actually occurring into next year for any who still hold and are invested in these shares... Anything is possible and can happen as many recent events have shown.. Call it magical, but anything is possible is all I am saying.
As after 1929 it was the small caps non marketed heavily then that later became the future mega winners for those who invested into them and simply had patience..
Is this like Extenz I see that couple talk about on TV? LOL
Seriosuly in this historic time, RBRM has every indicator to become like what many former other small caps were after 1929 occurred, and the new future growth stock and corp to invest in as they certainly have all the right underlying fundamentals in place and "cash solid", and as smoke clears in the markets and bad corps are washed out of the markets, you will see solid strong companies like RBRM and hosts of other small caps do very well long term for decades to come.
They have a viable product & resource for people, especially since the largest population in the USA will be retirees and if Obama does as he is expected to do, under national health care system, RBRM will only bode well in its stock.
GM will be fine because of their global diversification.
Fannie & Freddie will not and I believe Obama will see to that and changes will occur in how banking practices have been especially with so much corruption & fraud found from Fannie to Freddie to WaMu and many others- People have had enough and anger building nationally right now that he (Obama) knows he must do something extraordinary or citizens will again march on the US govt with weapons and against banks and demand change and of course, we cannot have that and why martial law was created for the President should the worst ever chance to occur again in the USA.
A new American Revolution will occur as then as now, it can only take a small group of unified determined citizens to defeat the greatest adversary in the world regardless who it is; and why Thomas Jefferson wrote the US citizenry has a duty to NEVER allow the US Govt to outgrow its people and that "a small revolution against the government is not a bad thing".. ...
GM is not in "trouble" in my opinion and you need to NOT listen to rating agencies or news pundits who have never invested into anything in their lives::
Interesting but with this global market today the USA is part of, we never had this involvement before, and with the internal problems in the USA, China is now refocussing on its internal growth & infrastructure (forgetting import/export biz); and even considering the auto industry and GM just opening a new state of art manufacturing facility in China, companies like PUDC and CPSL (coking coal supplier & steel mfgr) should bode well long term from these extreme low levels for those who allocate and diversify and accumulate like we used to do in real investing; as stress and whipsaws and market conditions and exposure to fraud at many levels is eating the heart out of the extreme greed that has plagued everything from advertisements to marketers (normalcy returning), and soon as I stated several years ago, reality will return to the markets and integrity, and the solid strong small cap companies will be the new long term winners for the next high growth wave of stocks to invest in for a generation or two... GM will be one of the larger cap stocks remaining after all the smoke clears too.
Yes I agree, the cost of "green" is extremely high and separates a majority of working Americans (due to credit scores & incomes) from being able to afford them anyway- then you have to factor high cost of care & manitenance for a hybrid/green car over a conventional internal combustion type vehicle..
If I had $40-$60K available for a new car and had to chose from a coffin on wheels and a not so efficient gas user, I would opt for safety and heigth on the road for my family (on today's dangerous highways) and buy the conventional larger vehicle though it need not be a SUV; I would be happy with full sized pickup truck or Buick or such..
Steel overseas verses steel within USA:
AK Steel Corp. and such other plants within USA fed US auto makers for years here, and they are not going to do well and with both their unions have destroyed much value for a long time there as I see it.
However, with China becoming less interested in import/export biz as they used to, they are focussing on building & expanding within Asia regions for their own infrastructure and demand, and considering GM opened new mfg facility a week ago there, they/the auto industry corps like GM who are diversified globally today will continue to do well and grow into the future.
Interesting but with this global market today the USA is part of, we never had this involvement before, and with the internal problems in the USA, China is now refocussing on its internal growth & infrastructure (forgetting import/export biz); and even considering the auto industry and GM just opening a new state of art manufacturing facility in China, companies like PUDC and CPSL (coking coal supplier & steel mfgr) should bode well long term from these extreme low levels for those who allocate and diversify and accumulate like we used to do in real investing; as stress and whipsaws and market conditions and exposure to fraud at many levels is eating the heart out of the extreme greed that has plagued everything from advertisements to marketers (normalcy returning), and soon as I stated several years ago, reality will return to the markets and integrity, and the solid strong small cap companies will be the new long term winners for the next high growth wave of stocks to invest in for a generation or two...
Agreed and I bought more for my portfolio.
VERY interesting Silicone Valley has been working in background with new all electric models for GM (willing to back GM as necessary) and they are ready to implement, so depending on oil and markets settling and sense coming back, this will bode exceptionally well for GM too.
Car dealers able to move cars easier now::
Fed OKs New Car Dealer Financing Under TALF -ReportLast update: 12/23/2008 8:10:08 AMDOW JONES NEWSWIRES
The Federal Reserve has determined that new-car dealer floorplan loans are to be included in the government's Term Asset-Backed Securities Loan Facility, or TALF, Automotive News reported Monday on its Web site. It had been unclear whether lenders could use TALF funds to finance dealers' new car inventories. The decision will provide greater liquidity for dealers, said Andy Koblenz, vice president of legal and regulatory affairs for the National Automobile Dealers Association. The loans will be available through 2009. Full story at www.autonews.com/article/20081222/ANA05/812220271/1142 -Dow Jones Newswires; 201 938-5500 (END) Dow Jones NewswiresDecember 23, 2008 08:10 ET (13:10 GMT)
Agreed! Read this just out from Feds::
Fed OKs New Car Dealer Financing Under TALF -ReportLast update: 12/23/2008 8:10:08 AMDOW JONES NEWSWIRES
The Federal Reserve has determined that new-car dealer floorplan loans are to be included in the government's Term Asset-Backed Securities Loan Facility, or TALF, Automotive News reported Monday on its Web site. It had been unclear whether lenders could use TALF funds to finance dealers' new car inventories. The decision will provide greater liquidity for dealers, said Andy Koblenz, vice president of legal and regulatory affairs for the National Automobile Dealers Association. The loans will be available through 2009. Full story at www.autonews.com/article/20081222/ANA05/812220271/1142 -Dow Jones Newswires; 201 938-5500 (END) Dow Jones NewswiresDecember 23, 2008 08:10 ET (13:10 GMT)
Reuters overseas report supporting GM:
SHANGHAI (Reuters) - General Motors (GM.N) expects no major changes in its investment plans for the Asia Pacific in the next few years, although it is cutting back on some non-essential projects, its Asia Pacific president said on Tuesday.
GM's vehicle sales in China, its second-largest market outside the United States, are expected to be "significantly" over 1 million units in 2009, Nick Reilly told Reuters in a telephone interview.
"I would expect us to do a little better than the market. As I said, I think the market will be flat to slightly up next year," Reilly said.
Reilly said he saw no need to lay off staff in China but GM would not be adding new capacity in the country in the next couple of years.
Bloomberg overnight report from overseas:
GM Expects to Outperform Asia-Pacific Market in 2009 (Update1)
Email | Print | A A A
By Tian Ying
Dec. 23 (Bloomberg) -- General Motors Corp. expects to outperform the industry next year in the Asia-Pacific region, its second biggest sales area, on the addition of new models.
“We have to do a little better than the market because we have some important introductions,” Nick Reilly, GM’s Asia- Pacific president, said by phone today from London. The carmaker is seeking “low single-digit growth” in the region, while overall sales may be flat at best, he said.
GM plans to introduce two new models in most Asian markets next year and upgrade other vehicles, Reilly said. The carmaker is counting on U.S. government loans and on sales in emerging markets such as China as it seeks to avoid bankruptcy after a collapse in U.S. and European demand.
“Clearly, it is difficult time,” Reilly said. “I still would expect us to be able to get through this with a reasonable profit performance” in Asia-Pacific.
The carmaker opened a new plant in China last week and is building factories in India and Thailand. The expansion contrasts with the U.S., where GM is suspending production because of waning sales.
GM doesn’t plan to cut employees in the Asia-Pacific region, Reilly said. It’s giving extra days off in some plants in South Korea and Thailand, he added.
I don't agree with your post 100%. GM & F for instance have massive global assets and now large capital loan facilities to use as they need them... And GM for one thing can streamline easily to not even have to use all of the loan facilities available as long as the UAW does the right thing for the long run, and not their short sighted self serving union greed.... But GM stock is worth more than this price easily IMO.
Now about lending, the average American (about 85%) of all working people have a credit score of around 625. The range runs from about 440-880 so 625 falls into high risk/poor column... There are many reasons people may have a lower score and not because of things they did either. My wife for instance is finishing 2nd college degree and those deferred loans show on her credit as past due and not paid and this is not right, as they are deferred, so you can imagine what they did to her score. Remember ANY derogatory made today stays 7 eyars minimum on your report, foreclosures stay 15 years or more and bankruptcies of any kind 10 years minimum... So the chanegs nobody is talkign about publicly with the credit agencies effectively will keep more people looking bad for a longer period to where nothing is going to move or be lent against......
I and my 4 year old son at time were smashed into from rear with utility truck while we were sitting in traffic, were hurt, in hospital, healed for nearly 3 years after and it took that time for insurance company to even pay the damage and debts for medical costs,etc but didn't matter as all those medical bills from accident hit my credit report and though they were paid (when insurance of faulted party finally paid out), will stay 7 years on my credit now giving me a score of only 700 now... My son's settlement (after lawyer's take & medical costs) left very little as we were made to believe would occur, and that money under NC law had to go into a life insurance annuity until he was 18 and we as parents had no legal say as to where those funds go...
These "wonderful" end of year car deal programs out there from lenders only qualify people with FICO's of like 740 or better so most Americans are exempt from them. Now depending on your state (like here in NC) the interest rates are another problem as here direct bank lenders are now charging up to 30% rates, so you tell me, even if a person has working record and even some downpayment, how are they supposed to budget or compete with such exorbitant rates the banks are still charging for car loans? Remember, new car loans have a lower rate but still as in my state it is nearing 10% now for "best credit".. The same banks and other private lenders are charging 16% minimum for used car loans and this makes no sense.
The news experts say we need to stimulate economy for homes and need a 3% fixed rate to get people to buy, then fine- But the banks are not willing to budge for pure greed!!! Same with auto loans (new or used); they are running the interest rates as high as possible because in a banker's feeble small mind they only see & want more money- period!! They do not see that they too need to live on less and still be able to manage their profitable institutions on a lower % rate, so until the banks again stop trying to get more and more, it may allow even more people to come in to buy vehicles as well as homes sitting out there.. Many people able to do so simply are not buying anything needing financed because of the rates the banks are charging..
Moody's downgrade and other analysts need to go away. They invoke more fear in markets and have no use after so many found committing fraud for pumping corps falsely... So why listen to them?
Yesterday for example, and Cramer even stated this too, they are donwgrading good companies as they are again this morning too who have cash, assets and strength & products needed long term, so none of the rating agencies make sense.
To see them downgrade Dollar General yesterday because they made like 78% return in 2007 makes no sense- that is wonderful news for DG!!
Same with GM and F and others who are diversified globally today, have massive assets behind them, and now $Billions of additional capital at their fingers to utilize. GM can easily streamline costs to not even require use of much of that available loan facility they are given.. So yes this stock is way oversold at this level. We are seeing low volume at year end and this is all with rating agencies putting out nonsense statements to scare the public more...
Good story and when I was President of a VC consulting biz several years ago I screamed about what the banks & realtors & appraisers were doing and nobody listened and treated me like I had the plague. It was pure greed driven and corruption took hold at every level related to real estate for damn commissions only... Being in construction industry for decades I saw lower grade products being used with illegal labor (many times) for the developers (who had banks in their pockets) market every new built home like "custom" (with tricky & slick loan programs to lure people) when truth is most will require major remodeling within 10 years as to the inferior products being used.... We will have a massive home glut for years in USA because of this but it affects so much more too.
Cramer even saying buy into Chinese corps again as fundamentals are in place and growth will continue there as well as demand...
The media needs to stop all this negativity as none of thsoe idiots on cnbc trade or inevst and only look pretty for viewer ratigns hoping for retirement from news Corp, etc...
GM is not going to fail and you need to look at their global diversity and reality. I bought into this corp in the $2.80 range (GM already technically made its bottom) and expect to see it go to $10.00 range as there just has been way too much oversold negativity across board in the markets and just too much stock that is actually way below its fair and true values and only those willing to take risk as an investor does will see massive ROI's..
Jump because someone bought more shares....
As soon as the greater masses stop getting scared with fear from cnbc media reporters 24/7 talking down the world, reality will return and many good compnaies like RBRM and those who own the stock will see massive price increases per share as market again gets confidence and this over $1 Trillion on sidelines is reallocated back buying into so many stocks simply extremely oversold right now....
Supposed to be Christmas time and magic is possible, so I am always positive and rarely listen to analysts or pundits on the news talk shows... NONE of those idiots have personally invested nor invest and only hope for a retirement from news Corp if they look good on TV and hold ratings...
This CEO is on CNBC trying to look good but the truth is, the whole IS insurnace industry alogn with its powerful lobbyists, have created a massive ponzi scheme "legally" upon the public. The cards are all in their favor.
Many people do not realize these insurance firms invest in other corps and trade debentures and this CEO talking of selling some other assets should let people know the reality. They pay out so very little in true losses or claims as we call them, yet fool the public with tricky talk and fancy games to make you feel for them...
I and millions of others believe policy rates should be much lower for all of us, but a greed driven enterprise like insurance, they will never get enough and always come up with more reasons or excuses or demand more in premiums from the general citizenry so they can invest in more assets globally to make their Board members mega wealthy...
I for one would love to see these POS's stock price fall below threshhold levels to force it to cease trading on regulated exchange and go to OTC market...
I don't listen to analysts either as after the sheer amount of Wall Street insider fraud and many of them found bribed with money to put out false reports for many firms to lure and to scare investors' psychi, who would listen to or trust what any analyst group says now???
GM don't need any bankruptcy as its CEO states, it has many options to cut massive costs which in itself would raise it out of this grey cloud quickly as I see it.... Problem is the UAW is going to have to realize they can no longer strong arm the company as perhaps, us "other" US citizens ought to take arms and march against the UAW beast and demand what they will do for once so at least jobs are there and costs can be cut for the employer to exist through these tough times?
Yes Garza and it comes down to being able to have choices of automobiles regardless, as everyone will not "go green" nor care to and if it is forced on us citizens, then we truly have a comminist nation at that point...
GM has facilities in China, Australia, Canada etc and they are already making changes to produce things elsewhere so I see them doing fine; and even in China's case, coking coal and steel stocks and others will fair real well from here as growth and demand returns as remember, we are a global economy today, not just seeing what is within our borders- business and growth is going on elsewhere in the world and GM and others are already diversified and tapped into those regions..
My take on unions as I have no respect for them...
UAW's time has come and their union by-laws too which are not a lot different from other trade union laws. I know. I used to work union electrical and left back for nonunion independent business owner and did much better and felt better about myself over the years and for the customers I did work for..
The mentality on a union job was and is so unbelievably ignorant that individuals are not supposed to think for themselves or have any common sense, and are mandated, yes mandated, to follow a prescribed protocol of work responsibilities and purposes and how they are "allowed" to interact with other tradespeople, etc...
I can tell stories where I left nonunion to go union for a short period because I was told it was better and so forth, but coming from being an efficient operator in an open shop environment working direct with customers, I found the union and many friends of mine who went that way was not for me. I like to think and not be afraid about doing something or saying something I could get penalized for from my union members or such. I do not tolerate waste and inefficiency which is exactly what I experienced in the union.
Non union people are used to working harder and being more streamlined, thinking ahead, and producing more product or work than any union worker I ever watched. Non union or open-shop workers are used to handling several tasks and jobs at once too. Union people basically have been indoctrinated to be crying welfare type mentalities always complaining and demanding more yet are controlled by their organizations to be robots basically. Their meetings monthly are brainwashing events requring more dues paid for members to be told they are the best and to talk down others who are not members as they are, etc.
It is very true a union worker is trained to not do a damn thing except what his purpose is, and this means to not even bend over to perhaps move some items that may pose a hazard on a job, as they have to contact another worker who holds that duty to do so, and it is sloppy. I remember cutting through a 4" PVC conduit in a trench for a job at ATMEL in Colorado Springs once, trying their IBEW union contractor out, and I was about to finish making my cut when lunch bell rang; and I was forced literally to stop my cutting instead of finishing that simple task, and take lunch, and I had problem with this as anyone I ever worked for nonunion would have finished that task so they can start new task after lunch, but I was told to stop or else and it made no sense as it would have taken maybe 8 more strokes of the hacksaw to do so... But this is the mentality I am talking about, and anyone like myself who have been in business and dealt nonunion for decades knows the unions have become outdated and obsolete and greedy beyond compare, and their workers are trained to be that way.
Being from Northwest PA originally, I remember situations that happened when the union got mad at nonunion electrical contractors getting jobs they thought the union should have (union would picket those jobs), and electrical equipment would be smashed on new projects overnight, conduits buried underground filled with cement and other such events and we all knew who was behind it- but it also cost many nonunion contractors to fail or go out of business with such losses and having to re-do what already was new finished work for those customers..
What hurt me most, is years ago in late 80's many friends of mine went to union for supposed security and so forth, but in short time, their organizations would supply them books to read about not dealing to nonunion tradesmen like myself, not working like we all would in a quicker efficient manner, and so forth; and in time I lost many friends I used to work non union with as they were being trained & indoctrinated in a new mentality by the unions to be "their way" and I always looked at those guys as brainless idiots not being allowed to think or act on their own... But they would never be afraid to yell out "Union Proud & Strong" as if it meant something to me and others..
Well, GM and others had built fuel efficient cars going back to 1970's but they had to cut safety and size and weight to do so and the subcompact phase disappeared in time with people opting to spend more and for larger vehicles after that as we have seen.
There is nothing new to invent. There are and can be efficient cars but they are limited and it depends on their intended purposes. What is comical is people seem to be hoodwinked thinking to simply say "green" means everything will change overnight and be better and this is a falsity... You cannot have your cake and eat it too, and those in construction and service industries can never utilize a small car or more fuel efficient type car as they simply do not have the output horsepower needed for such jobs and uses.
To try to market to the nation as if everyone MUST buy a small or compact car is nonsense and a lie, as those who need them can buy one anytime and that is fine- but DO NOT regulate that every American can only buy a smaller car in the future as this would impact the whole construction and services industries and kill them if this were to ebcome a law.. Get the liberals in congress to ease on environmental controls so we can exploit more of our own resources for one, and get the unions to grow up and face the future today...
Looks like the past 1-2 years ENT is surviving and doing well despite what many thought initially almost 2 years ago..
Lots has changed in markets and this energy trust is still going onward...
Yes Penny but the whole overall market is way beyond oversold in most indices and extreme fear pumped into everything from the media forcing many companies to be trading below where they ought to be, and now with GM settling the way it did on close PLUS after hours positions purchased is strong indicator GM stock (and others out there) are going to be lifted back up to a more relative price level of which this $10.00 P/S range GM was in for a long time until more Wall Street bad news came out with fraud and such prompting GM and many other stocks channeling to be sold off deeper than where they should have been trading.
I do expect $10.00 and I expect it to range trade there for months through the Spring until we see what occurs at end of March and the bridge loan facilities the Fed is giving them PLUS with the unions going to have to change whether they like it or not, this all will add substantial cash basis to GM itself and yes, in a relatively short time, you can see them go from where they were at today to considerably higher profitability because of all of this...
If we were going to see the $3.00 level again, it would have happened the last 2 days and simply did not regardless of overall market and this says something positive. Remember GM overseas is doing well and the Buick is best selling vehicle in China too I believe... The problem is the greedy UAW structure and they and the world knows they have to cease to exist as they have if they care about their employer existing in the USA; as funny as it seems, if they end in America it does not mean the end of GM as they can go fully overseas and continue onward, importing back into the USA as GM is doing fine overseas and just opened new mfgr facility and nobody talking about this in news??.. One reason I have been back buying into cash solid China steel company stock here too (cpsl for exxample)...
They got what I expected and the unions still don't get it.
Way I see it, of the changes they have to institute within 90 days, the only way to do so outside of slashing prices heavily, is the unions are going to have to change their practices; and already, word is unions were told they need to streamline and cut back more competitively within 90 days to what foreign auto makers in US are paying their employees..
So this will add massively to bottom lines for GM (cost savings) as the end of the union UAW era is over in the 21st century.
Buy & accumulate this as $10.00 P/S is coming soon...
Cramer even saying damn to the unions as they are causing this and to their employer, and time has come they are going to have to piss or get off the pot and come to reality they are NOT going to be able to demand or strong arm their employer any longer for wages for above the average American who in many cases, has even more education and experience than the average GM or Ford or Chrysler employee and we all have had to learn to live on less and less in these economic times...
Heck, my son is manager at target and they just came out across board halting all bonuses or raises for the next year.
My wife's employer took away 1 day a week which is like cutting her income by 1/4th in a month as cost savings.. But the damn unions want more and more and more and are so damn blind they are gooing to run their employers into the ground then NOBODY will want to deal with them....
Like I said before, can the President institute a type of martial business law in this case and demand changes if the government is to give these loans to GM and others?? I wonder.
Time for Dr. Phillips and gang to release substantial info & PR now before Christmas, as I believe time has finally come for Christmas rally in markets after so much downside and negativity over a year plus special things the Govt and Fed are doing and this stock and hosts of others are so unbelievably priced below where they ought verses value of their products on the global community long term.
Seems good time to buy this after its basing for some time now. The country is expanding and steel is in high demand a loooong time.
Yes this is time to buy and accumulate long term on this again as I have been away a long time, but prices and opportunities are now present in the markets never before there and I believe with their fundamentals in place and growth, the enxt quarter will surprise many who are invested in the company...
One reason technically I see $10.00 / share for GM stock at a new basing level to rebuild from.. I see it holding in $10.00/PS range for sometime as the economy goes through what it does.
Don't listen to any ratings agency is my opinion, as recent frauds from them revealed they have been paid by Wall Street firms should tell you DO NOT trust anything they say to the press again and do your own DD and make your own investments based on sound fundamentals long term..
Yeah I was one of the investors killed by WCG fraud and I even lived in Colo Springs, CO and knew about SPNC long ago when it was penny stock and owned a lot of it initially..
But corp greed & fraud has hurt so much investor confidence in the USA and the world is watching us, and until the SEC and govt regulators show integrity and do their damn jobs they are highly paid for, nobody is going to invest again without trust and integrity back at every level of corp operations and the US government parastatals..
Owned this once long ago. It is a techie and tech is going into crapper for long time as a majority of consumers have less to spend for gadgetry and TXCC tied to this sadly...
.75% interest rate cut by Feds should have some impact for companies with loans on the book, as though banks are not generally lending new monies out still, they are trying to refinance everything on the books with existing homeowners, and this event could benefit LUM and many others in time in all honestly as you creatively erase a lot of "supposed" debt off the books (increasing bottom lines) by basically seeing the banks willing to lend at lower % rate than before but yet the loans still good and being serviced by borrowers and loan balances reduced substantially........
We will have to see.