Go Back   DealershipForum.com > Dealer Talk > General Discussions

Notices

General Discussions Car People talking about something other than the Car Business – Is there life outside of the Dealership?

Reply
 
Thread Tools Display Modes
Old 08-08-2011, 12:18 PM   #16
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default

Quote:
Originally Posted by SHACOS View Post
Serious question, does BMW make engines that run on ethanol? That's all they have down in Brazil.
I'm not 100% sure but I know BMW sells cars in Brazil so I'm guessing they've adapted them to run on ethanol.

I remember when Chrysler first started offering vehicles that would run on any combination of ethanol/gas up to E85 - the engines didn't require any significant changes. The primary change was the addition of a sensor that could detect the percentage of ethanol in the fuel and upgraded fuel lines to deal with the corrosive properties of ethanol.
XDCX is offline   Reply With Quote
Old 08-08-2011, 12:21 PM   #17
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default

Quote:
Originally Posted by Txflyer View Post
Monday should be fun, with the S&P downgrade of the USA's credit rating.
You called that one correctly.

The Dow Jones if off by about 400 points as I type this and the NASDAQ is getting hit even harder in perrcentage terms.

No worries though, the President says America is still a AAA country.
XDCX is offline   Reply With Quote
Old 08-08-2011, 12:23 PM   #18
birch3x
Senior Member
 
Join Date: Aug 2008
Posts: 341
Default

Hello, 401k.....hello?...hello?.....where have you gone?
birch3x is offline   Reply With Quote
Old 08-08-2011, 02:35 PM   #19
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default Bank of America drops 20% in a single day

Quote:
Originally Posted by possum View Post
I've held on, and now, cannot afford to sell. Just ride it out. Bank of America got so cheap at $9.12 I just got impulsive and bought in....then it fell to $8.77. Friday I went to the Manheim Auction, but before I left I put in another "buy" if it hits $8.01. It hit as low as $8.03, so I missed another "opportunity", and now Monday it will go into the $7 range, I think.
Holy smokes, I bet you're happy your buy order didn't trigger for $8.01 on Friday - Bank of America closed today at $6.51 down $1.66. (That's a 20% loss in a single day.)
XDCX is offline   Reply With Quote
Old 08-08-2011, 02:43 PM   #20
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Unhappy Market finished down 634 points

If last week wasn't bad enough the market fell an additional 634 points today - the worse decline since the credit crisis of 2008.

I've read some interesting reports that S&P may have actually botched their analysis when they downgraded the U.S. debt but they've refused to change their debt rating. (It's alleged they made a $2 Trillion error when estimating the future levels of the national debt.)

Regardless, the decline in the stock market is real and the "fear factor" is on the climb again. That's not good news for the car market....
XDCX is offline   Reply With Quote
Old 08-08-2011, 05:05 PM   #21
possum
Senior Member
 
Join Date: Jan 2009
Posts: 1,122
Default

Its scary, but this is also when some people will make some money. If you ever wanted to buy an expensive stock, this is your time. It will come back, and there is money to make.
possum is offline   Reply With Quote
Old 08-08-2011, 06:35 PM   #22
SHACOS
Super Moderator
 
Join Date: Jan 2008
Posts: 838
Default

The best advice I ever heard from a old car guy. Money is only lost if you sell. I think it applies to days like today perfectly.
SHACOS is offline   Reply With Quote
Old 08-08-2011, 06:40 PM   #23
SHACOS
Super Moderator
 
Join Date: Jan 2008
Posts: 838
Default

Ouch! I just looked at my 401K. I lost $2,000 in a week! Screw you S&P.
SHACOS is offline   Reply With Quote
Old 08-09-2011, 11:10 PM   #24
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default

Quote:
Originally Posted by possum View Post
Its scary, but this is also when some people will make some money. If you ever wanted to buy an expensive stock, this is your time. It will come back, and there is money to make.
Very wise words indeed.

Bank of America's stock was up $1.09 today - an increase of almost 17%.
XDCX is offline   Reply With Quote
Old 08-09-2011, 11:13 PM   #25
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default

Quote:
Originally Posted by SHACOS View Post
Ouch! I just looked at my 401K. I lost $2,000 in a week! Screw you S&P.
I thought you were saying it didn't matter as long as you weren't selling....

On a side note, I agree with the "Screw you S&P" comment. As I've stated before if Moody's and S&P had been doing their jobs the whole real estate bubble and collapse would have never happened.
XDCX is offline   Reply With Quote
Old 08-10-2011, 06:33 AM   #26
Needhelp
Senior Member
 
Join Date: Aug 2009
Posts: 107
Default

Quote:
Originally Posted by XDCX View Post

On a side note, I agree with the "Screw you S&P" comment. As I've stated before if Moody's and S&P had been doing their jobs the whole real estate bubble and collapse would have never happened.
TRUE DAT!

It's going to be another wild ride today!!!!
Needhelp is offline   Reply With Quote
Old 08-10-2011, 10:57 AM   #27
crowe
Senior Member
 
Join Date: Oct 2008
Posts: 626
Default

The stock market predicted 9 recessions & we’ve only had 5.
The price has fallen on profitable companies that have more cash than debt.
The average stock buyers buys at the high & sells at the low.
Good fundamentals coupled w/ a decent timeline will still make money.
crowe is offline   Reply With Quote
Old 08-10-2011, 03:40 PM   #28
steve_biegler
Senior Member
 
Join Date: May 2010
Posts: 1,497
Default

Down 530 today......ouch! Rollercoasters make me sick
steve_biegler is offline   Reply With Quote
Old 08-10-2011, 05:53 PM   #29
possum
Senior Member
 
Join Date: Jan 2009
Posts: 1,122
Default

My only regret is the limited monies I have to buy with right now! This "correction" will pay off down the road, and if it doesn't, we are in more than economic trouble.
possum is offline   Reply With Quote
Old 08-11-2011, 06:41 AM   #30
XDCX
Administrator
 
Join Date: Nov 2007
Posts: 14,869
Default

Quote:
Originally Posted by crowe View Post
The stock market predicted 9 recessions & we’ve only had 5.
The price has fallen on profitable companies that have more cash than debt.
The average stock buyers buys at the high & sells at the low.
Good fundamentals coupled w/ a decent timeline will still make money.
Great comments - I just read a story suggesting the stock market is pricing in another recession but it's unclear whether it will actually happen. It fits with your 9 and 5 comment.
XDCX is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Dealer Standards - Has your Earnings Level Dropped? birch3x Sales 33 11-25-2010 08:23 AM
Don Jones buys Montana Ford Dealership XDCX Automotive Discussions 5 08-13-2010 01:53 PM
July Mid-Month Sales Results XDCX Automotive Discussions 18 07-29-2010 01:59 PM
Interesting Points crowe Sales 3 04-27-2010 09:24 AM
Dow Jones Average crosses 10,000 - First time in over a year XDCX General Discussions 0 10-15-2009 01:12 AM


All times are GMT -7. The time now is 11:53 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright DealershipForum.com - 2008 - 2016