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CNBS, GM made it on ZERO % financing. I guess they are going to make up for no profit with increased volume. :lol:

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Gloomberg: GM sales weren't THAT bad!

 

It's all good, really. Now buy some GM 20% paper and go sit in the corner.

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It's all good!

 

"Approximately 600 Underperforming Stores will be Closed

Company takes Significant Step toward Improving Long-Term Profitable Growth"

 

http://biz.yahoo.com/bw/080701/20080701006270.html?.v=1

 

Questions?

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Jet, I think you made the comment on IDS about the Swiss Frank and its relationship to the Swiss banking business now under investigation by the IRS for allowing High Income US citizens to avoid US taxes using possibly illegal tactics.

Thanks, that made sense to me, and I sold my Swiss government bonds for a nice profit. :D

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Best cure for high oil price is even higher oil price?

 

Mercedes to lessen the pain?

 

New Diesotto engine reduce consumption

 

The new engine lacks production-ready refinement; it now feels a bit like an out-of-tune supercharged 1.8-liter four. Still, it delivers power in a smooth, linear manner sufficient to ensure that the F700 won't be left behind at a traffic light. Its 238 hp compares favorably with Mercedes' existing 3.5-liter V6 gasoline engine, with a 20-hp electric motor to provide additional power under acceleration. Torque is 295 lb-ft.

 

With drive running through a seven-speed automatic to the rear wheels, Mercedes says the 3750-pound F700 goes from 0 to 62 mph in 7.5 seconds and hits a top speed of 120 mph. More impressive is that it boasts double the fuel economy of a 3.5-liter-V6-equipped S-Class, with half the emissions.

 

In other news

From unverified sources

 

In less than 7 years, Mercedes-Benz plans to ditch petroleum-powered vehicles from its lineup. Focusing on electric, fuel cell, and biofuels, the company is revving up research in alternative fuel sources and efficiency.

 

The German car company has a few new powertrains in the line-up that European journalists have had the opportunity to test out in their facility in Spain. One vehicle includes the F700, powered by a DiesOtto engine that combines HCCI and spark ignition to get nearly the same efficiency as diesel, but minus the expensive after-treatment systems. The engine can run on biofuels, and we may have a purchasable vehicle by 2010 ? a year that seems to be popular for the debut of a lot of new alternative fuel car models, making ?08 and ?09 simply thumb-twiddling years for consumers. I don?t know, maybe car makers just like the roundness of ?2010.? The company?s next big step will be to launch a Smart electric car which is fuel and emission-free.

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This ought to make some rich dudes real nervous. :lol:

 

Justice Department broadens tax investigation of UBS clients in US

The Associated PressPublished: July 1, 2008

 

WASHINGTON: The Justice Department said it is seeking information from Swiss bank UBS AG about U.S. taxpayers who may have used offshore accounts to avoid paying federal income taxes.

 

The broadening investigation centers on UBS clients in the United States who may have hidden up to $20 billion in assets from the Internal Revenue Service.

 

The Justice Department asked a federal court in Miami on Monday to authorize the IRS to serve UBS with a "John Doe" summons. The IRS uses a "John Doe" summons to obtain information about potential tax fraud by unknown individuals.

 

If approved, the summons will direct the bank to identify U.S. taxpapers with accounts at UBS who did not fill out required tax forms.

 

http://www.iht.com/articles/ap/2008/07/01/...S-Tax-Probe.php

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Jet, I think you made the comment on IDS about the Swiss Frank and its relationship to the Swiss banking business now under investigation by the IRS for allowing High Income US citizens to avoid US taxes using possibly illegal tactics.

Thanks, that made sense to me, and I sold my Swiss government bonds for a nice profit. :D

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Well I think there's nothing wrong for taking credit for something that I did totally inadvertently :lol: don't mention it.

 

Oh, and sorry for the times my posts might have made you lose money :lol: I guess we're even..

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I will bet there are a lot of guys and gals here who passed this test. :D

 

One thing to remember folks - the test of your prowess as an investor does not come in a bull market. Its easy to make money in a bull market - you just buy the index.

 

No, the test is whether you keep your money in a Bear market. Note that I didn't say "make money". I said keep your money.

 

If you have the same amount of money now in your investment accounts as you did at SPX 1576 in October, you are doing better than 90% of all institutional money managers and 95% of all individual investors. This puts you in the top 5% - and that's just by going to cash in October and sitting on your hands.

 

If you've actually made money since then, you're in the top 1%.

 

Really.

 

Yes, you are that good.

 

http://market-ticker.denninger.net/

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Well I think there's nothing wrong for taking credit for something that I did totally inadvertently  :lol:  don't mention it.

 

Oh, and sorry for the times my posts might have made you lose money  :lol:  I guess we're even..

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There are not very many posts on this board that lose money and we know who they are. :D

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