Bought some GE

[Daws1089]

i just got into GE at just under $20/share. I'm taking a long term position on this puppy and waiting this whole mess out.

[Kevin]

Loot doubles every 7 years at 12%.

GE will be one of the first to rebound on the way back up and probably be sitting at 40 within 4 years at the longest makin' GE a screamin' deal at this price. I love it too (amongst other things!)

[beermantm]

Now you and Warren Buffet Own GE. I think you have good Company.

[Daws1089]

I also pumped an equal amount into BAC. One of the biggest banks if not the biggest is not going down. They usually sell in the mid 30's and I got in for $24 today. This could take a little longer to rebound but I'm in it for the long haul.

[beermantm]

I also pumped an equal amount into BAC. One of the biggest banks if not the biggest is not going down. They usually sell in the mid 30's and I got in for $24 today. This could take a little longer to rebound but I'm in it for the long haul.

Honestly, I don't like that pick as much. You'll be fine for long haul but I think there is better value out there. You have a sell price in mind?

[Kevin]

All banks scare me now, but no balls no glory.

Enjoy that fat dividend too.

Wells Fargo is the ony bank I'd touch as they didnt get wrapped up in the sub prime mess and are stingy on who they lend to.

Im still skeptical about our market. Warren Buffet is optimistic about it, saying buy now, **** is cheap, but I just dont see how our economy can sustain the credit/housing crunch thats going on right now. The govt continues to borrow, everybody continues to borrow and thats not the answer.

Im gonna get on record saying housing is ****ed for at least 2-3 more years and that stocks are going to continue to fall and we're gonna see a 5000 dow.

I hate to be a downer, but theres just no logic in today's numbers. People are maxed the **** out and losing houses on top of it. I foresee americans taking back **** jobs they have previously refused to do as well, mexicans going back to mexico and leaving even more houses empty and we lose those dollars they spent as well. I think we're in for a once in a lifetime ugly period of time where **** keeps dropping and then before it does get much better it goes sideways for a while.

How is it that my dad, who isnt even that old used to catch a movie for a nickel and a milk shake for a quarter, yet im paying 8.50 for the movie and 5 bucks for the milk shake. Sporting event tickets, travel, lots of **** has become unaffordable and it all has to peak and bust sometime. That sometime is now. Could be hard times ahead for many. Stash cash is all I gotta say.

I told my dad last night that I'll never give him **** again for his 4% cd he took out a year ago. Man what timing. Now I know why they tell retirees to not be vested too heavily in stocks. If I was 60 right now, looking to retire and had just seen my portfolio fold in half, I'd be ABSOLUTLEY INSANE right now.

I think the best move right now is to hoard cash, wait for house prices to drop a bunch more, buy up a bunch of houses and rent them out. Those who cant afford to buy will have to rent. Those who can afford to buy but can't get a loan because nobody will be offering loans unless your squeeky clean and have an excellent debt to income ratio will have to rent as well. Lowering house prices and increased demand for rentals means some **** will pencil out with very little down if you can get some contractors/home builders to carry contracts which can/will happen. Anyhoo, all sorts of random thoughts. Those who think ahead and roll the dice may come out of this thing with short term riches (10 years) if you play your cards right.

6 month cd's, here i come!

[Jerbeek]

Actually with 12% interest your loot will double in 6 years. It is called the Rule of 72.

[beermantm]

Im gonna get on record saying housing is ****ed for at least 2-3 more years and that stocks are going to continue to fall and we're gonna see a 5000 dow.

Wow!! That would be a disaster!! I don't know what will happen but I'm not sure that 5k will happen for the simple fact that there are to many bulls and timing the market is impossible. When P/E's fall this low or lower I just don't see people not pouring in the money. I have been waiting for a downturn just to get back in actually and have been unconvinced of a bottom right now. I still think we see a lower dow but some of these stocks prices are getting me tempted to get in now and if they slide some just buy more. I've been out of it so long I could actually use a guide for where the best places for stuffing the cash in are. I've been frantically looking over stocks and trying to match them up with some mutual fund holdings!!

[Kevin]

Beer,

I agree, things do look very tasty right now. The fear is already priced in as well, I just kinda think it goes down even more. Everybody I know is broke right now and more jobs are getting lost.

I am dying to buy into cmg at 44 and change. Others as well. Dollar cost averaging (buying in every few weeks) is probably the safest way to play it right now. That way you get SOME if this is the bottom and some on the way up. Buying SOME now and having the market tank more isn't all that bad eitehr if your in for the long term and assuming your not buying companies that have a better than normal chance of tanking.

I hate to say it, but i see more stink on they way before it gets better. Save cash, deals of a lifetime are on the horizon.

[FlyersFan]

wait until xmas and the end of the year when they are giving away electronics and cars. now is the time to buy anything you've had your eye on and can afford whether it be stocks, electronics, cars, real estate etc........

unfortunately we are a society driven by "mirages". nothing is ever as it seems. was yahoo's stock really worth like 300.00 a share when it was at its peak? it had no inherent value.....just like the stock market itself and the housing market. it's amazing, a company can earn a huge profit for a quarter, but have someone report it was less than expected and the stock has a huge sell off. we are really the ones responsible (and the media drives it) for all the **** that goes wrong. we're the ones that went out and bought houses in places like bakersfield, stockton etc....for 400K when they were worth 100K the year before...we're the ones that run scared and tank the stock market.......fear and greed drive our society and until they don't (which is never) you will have huge ups and downs in every single market. i held off on buying a house 2 years ago because i did my homework and pretty much saw this coming....i'll be in the market by the summer of next year for sure.

i think there are a ton of stocks that are actually performing well but are undervalued because they were dumped in panics. it still amazes me that you can have company A that reports a 100M profit but it's 10% less than their "estimate" and all of a sudden people dump it like it's the plauge. those are the ones i would look after.

[homedawg]

CCTYQ .06 monday, .13 tuesday, closed @ .25 today, bby caving in, CCTYQ can turn this mutha out! :beerbang:

hit .30 (9/14) closed at .27 +450% for the week!

[homedawg]

CCTYQ .06 monday, .13 tuesday, closed @ .25 today, bby caving in, CCTYQ can turn this mutha out! :beerbang:

hit .30 (11/14) closed at .27 +450% for the week!

Circuit City Discussing Possible Sale


Circuit City Stores Inc. is in talks with two parties about a possible sale or a cash infusion that could help it to continue operating.

According to people familiar with the matter, one of the prospective suitors is Mexican billionaire and electronics-chain executive Ricardo B. Salinas Pliego.

But the retailer, which has been operating under bankruptcy-law protection since November, is facing a Jan. 16 deadline to reach a sale agreement or be forced to liquidate.

"We will soon know whether or not someone will step forward and purchase the company," Circuit City acting President and Chief Executive James A. Marcum told employees in a memo reviewed by Dow Jones Newswires. "While we would all prefer it to be sold in its entirety, we cannot say for certain that will happen."

"There's no way to sugar-coat this, so out of respect for you I'm going to be completely honest: if no sale agreement is approved, then the company will be forced to liquidate beginning soon after the hearing on the 16th," Mr. Marcum said.

Circuit City said the parties have substantially completed due diligence and are in talks with the company and its major stakeholders "to finalize such a transaction."

A person familiar with the situation said one of the parties in the talks is Mr. Salinas, who bought a 28.1% stake in Circuit City in November and said then he was exploring a possible purchase. The identity of the second party wasn't available, and a spokesman for Mr. Salinas couldn't be reached on Friday.

Circuit City said it filed a motion with the bankruptcy court on Monday to put into motion procedures that would formally put the company up for sale as a going concern, as separate business units or as individual assets--including the sale of inventory.

The company was required to file the motion as part of its debtor-in-possession credit agreement, approved three weeks ago. Under the motion, an auction of the company and its assets would take place Jan. 13 and a sale hearing Jan. 16.

In November and December, the company liquidated 155 U.S. stores. A week after the store closings were announced, Circuit City succumbed to mounting pressures and filed for bankruptcy protection in its home state of Virginia.

Circuit City said it sought bankruptcy-law protection because its standing with suppliers crumbled in a matter of days after it disclosed its worsening financial state and store closings. As a result, many electronics makers either stopped shipping to the company or demanded payment in advance.

The nation's second-biggest consumer-electronics chain, which at the time operated 721 stores in the U.S. and 770 smaller outlets in Canada, was the largest retailer to file for bankruptcy in several years. But analysts predict a wave of retail bankruptcies following the depressed holiday shopping season.

Circuit City said in a court filing that revenue has been less than projections made at the outset of the bankruptcy proceeding. And revenue generated from the store-closing sales "was sluggish and did not generate the liquidity infusion projected by the Debtors and the agent" conducting the sales, the company said. Still, Circuit City has exceeded its liquidity forecasts and stayed within its projected budget by managing expenses, it said.

CCTYQ:
0.305 Last Trade
+0.145 (+90.63%)
Change*
12,601,479 Volume

[homedawg]

MEXICO CITY, Jan 9 (Reuters) - Mexican tycoon Ricardo Salinas Pliego is thoroughly analyzing the business of Circuit City Stores Inc, the troubled U.S. electronics chain in which he holds a 28 percent stake, a spokesman for the businessman told Reuters on Friday.

Salinas, owner of a retail and media empire in Mexico and other Latin American countries, became the biggest holder of Circuit City (CCTYQ.PK) late in 2008, when the company filed for Chapter 11 bankruptcy protection, hurt by tighter credit terms from vendors and weaker consumer spending.

Luis Nino de Rivera, a spokesman for Salinas' business group, said Salinas has complete freedom under U.S. regulations and laws to buy 100 percent of Circuit City.

But he declined to comment on whether the Mexican businessman was one of two parties in deal talks with Circuit City to either buy the electronics chain or provide additional financing.

After purchasing the big stake in Circuit City, Salinas agreed with the U.S. company not to buy more shares without notifying management and U.S. authorities first, the spokesman said.

In exchange, Salinas was granted full access to Circuit City books and other business information.

"Great strides have been made," Nino de Rivera said. "We have sent experts there and have kept tight, intense talks with the company." (Reporting by Cyntia Barrera Diaz, editing by Matthew Lewis

[homedawg]

CCTYQ:

0.33 Last Trade

Change* +0.025 (+8.2%)

High Today: $0.47

13,596,982 Volume


gonna be busy flippin' again tomorrow! :beer2:

[homedawg]

Circuit City to liquidate, Failed to find a buyer
Sat Jan 17, 2009 12:50am GMT

Bankrupt electronics retailer Circuit City Stores (CCTYQ.PK: ) said on Friday it will liquidate its assets and shutter hundreds of U.S. stores after failing to reach a deal to sell the company.

Circuit City is one of the largest retail bankruptcies in the current U.S. recession. Its demise paves the way for larger rival Best Buy Inc (BBY.N: Quote, Profile, Research) to boost sales and gain clout with suppliers as the leading electronics retailer.

U.S. Bankruptcy Judge Kevin Huennekens approved the plan to liquidate Circuit City, and the No. 2 retail player in U.S. electronics said it would begin closing stores on Saturday.

"Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction ... and so this is the only possible path for our company," Vice Chairman James Marcum said.