Thursday, November 20, 2008

Buy a Cadillac and get GM Stock

"What is good for the country is good for General Motors, and what's good for General Motors is good for the country." -Charles Wilson, the head of General Motors and later Dwight D. Eisenhower's Secretary of Defense

A car dealer in Maryland is offering customers 100 shares of GM stock if you buy a used Cadillac which I think is a creative idea. GM stock closed yesterday at $2.79 so if you drop $40K for one of those boats you get a $279 lottery ticket. GM's 52 week high was $29.95 and it looks like the government is not going to let the auto companies go under so it's not a bad bet. Even if the share price recovers only half it's value you can make a tidy profit. I would say the odds are better than buying a PA lottery ticket or pushing some buttons on a slot machine at Mohegan Sun that you would win some money.

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