English 
English Welcome
on East Filters
Looking for auto parts? Please click below.
Our products
Racor Fuel filter/Water Separator
Oil water separator parts
Sakura Filters Equivalent
Fuel filter accessory
Top Searches
Oil filter
Fuel filter
Air filter
Oil water separator
Fuel water separator
Racor
Volvo
Caterpillar
Benz
Perkins
Scania
Komatsu
MAN
HINO
Iveco
TOYOTA
GM shares fall on unease
Also on Monday, the Securities and Exchange Commission blocked short sales of shares in GM, a move aimed at preventing the stock price from being driven down amid a financial meltdown on Wall Street.
The emergency ban adds GM and 29 others to a list of 799 companies whose stock previously was blocked from being sold by investors in so-called short sales.
Investors who engage in short sales attempt to profit from falling stock prices. They sell borrowed shares, hoping the price will drop so they can repurchase the stock later at a cheaper price and pocket the difference.
The SEC said the temporary move was needed to 'prevent short selling from being used to drive down the share prices of issuers even where there is no fundamental basis for a price decline other than general market conditions.'
The emergency ban expires Oct. 2.
GM met certain criteria to be added to the SEC list because the automaker owns a bank or saving institution -- specifically, National Motors Bank, said spokeswoman Renee Rashid-Merem.
'We didn't come out and ask to be added to the list,' she said.
The emergency ban should temporarily eliminate volatility in GM's stock, said Sudip Datta, professor of finance at Wayne State University's School of Business Administration.
'What it does immediately is stanch the bloodletting that's going on,' Datta said, referring to recent chaos that has included the bankruptcy filing by investment bank Lehman Brothers and the forced sale of investment bank Merrill Lynch to Bank of America.
But banning short sales is a bad idea, Datta said.
Investors who engage in the practice serve as financial detectives, sniffing out problem companies while making a profit, he said. The ban could lead to pent-up demand among investors to sell GM's stock.
'Unless in the meantime (GM) gets its act together and makes some drastic changes to the balance sheet or does something to fundamentally improve, all they are doing is delaying the inevitable,' Datta said.
The automaker's stock has ranged from $8.81 to $43.20 in the past year, with the most recent drop to $11.58 coming after Friday's announcement.
Goldman Sachs analyst Patrick Archambault viewed the liquidity draw as a 'net negative,' and a sign GM 'sees limited funding options in the near future.'
Separately, Fitch also thinks GM will also seek additional cooperation from the United Auto Workers in altering the financing structure and timing of a tax-free health care trust fund. Last year, the union agreed to take over retiree health care obligations in 2010 and use the $31.9 billion GM has been approved to pay into the fund to cover its $47 billion in health-care liabilities.
The emergency ban adds GM and 29 others to a list of 799 companies whose stock previously was blocked from being sold by investors in so-called short sales.
Investors who engage in short sales attempt to profit from falling stock prices. They sell borrowed shares, hoping the price will drop so they can repurchase the stock later at a cheaper price and pocket the difference.
The SEC said the temporary move was needed to 'prevent short selling from being used to drive down the share prices of issuers even where there is no fundamental basis for a price decline other than general market conditions.'
The emergency ban expires Oct. 2.
GM met certain criteria to be added to the SEC list because the automaker owns a bank or saving institution -- specifically, National Motors Bank, said spokeswoman Renee Rashid-Merem.
'We didn't come out and ask to be added to the list,' she said.
The emergency ban should temporarily eliminate volatility in GM's stock, said Sudip Datta, professor of finance at Wayne State University's School of Business Administration.
'What it does immediately is stanch the bloodletting that's going on,' Datta said, referring to recent chaos that has included the bankruptcy filing by investment bank Lehman Brothers and the forced sale of investment bank Merrill Lynch to Bank of America.
But banning short sales is a bad idea, Datta said.
Investors who engage in the practice serve as financial detectives, sniffing out problem companies while making a profit, he said. The ban could lead to pent-up demand among investors to sell GM's stock.
'Unless in the meantime (GM) gets its act together and makes some drastic changes to the balance sheet or does something to fundamentally improve, all they are doing is delaying the inevitable,' Datta said.
The automaker's stock has ranged from $8.81 to $43.20 in the past year, with the most recent drop to $11.58 coming after Friday's announcement.
Goldman Sachs analyst Patrick Archambault viewed the liquidity draw as a 'net negative,' and a sign GM 'sees limited funding options in the near future.'
Separately, Fitch also thinks GM will also seek additional cooperation from the United Auto Workers in altering the financing structure and timing of a tax-free health care trust fund. Last year, the union agreed to take over retiree health care obligations in 2010 and use the $31.9 billion GM has been approved to pay into the fund to cover its $47 billion in health-care liabilities.
