Wednesday, March 02, 2011

Sticking with the today's theme of dumb ideas

*** If you linked in looking for the story on the Bike registration fee just scroll down a bit and thanks for visiting.

Del Monte has come up with individual plastic packaging for bananas, a fruit that already comes in its own natural, biodegradable wrapper.

The packaged bananas are also expected to be more expensive, at about $1 (U.S.) per fruit, the Daily Mail says.

Individual bananas wrapped in plastic? Brilliant!

I thought it might be timely to revisit one of last year's biggest stories in the US markets - GM's IPO.

If you remember GM launched their IPO at $33/share and after days of flirting with that IPO price the stock eventually shot up into the upper $30's and seemed to have survived to fight another day. Fast forward a couple of months and Detroit, we might have a problem.

The stock has been fighting hard to maintain a level near $33 (the end of day buying to prop the stock has been very evident) but has now closed two days in a row under the IPO price of $33. Eventually, this will trigger some computer sale programs and that's when things get interesting.

Bloomberg reports that "General Motors Co. is offering buyers interest-free financing on some 2011 models after the company increased discounts and incentives to lead all major automakers’ U.S. sales gains last month.

"GM raised discounts 12 percent from a year earlier to an estimated $3,732 per vehicle last month, the most among major automakers and 45 percent more than the average, according to researcher Autodata Corp."

Coupled with Consumer's Report panning of the Volt this week --- The magazine’s team got between 23 and 28 miles in battery-only range because of the cold weather. (General Motors says the Volt can go 25 to 50 miles on its battery.) After that, the gasoline generator got about 30 m.p.g., compared to the Environmental Protection Agency rating of 37 m.p.g. --- makes one wonder what the future holds for GM.

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