In the wake of Circuit City's bankruptcy (which, honestly, was seen coming a long ways away) and Deutsche Bank setting a one-year forward-looking price target for General Motors stock of $0 (yes, zero), I've decided to put down some of my own money, the fruit of my labor, to amuse myself (and you, my readers) in a guessing game of buzzard-like proportions.
The name of the game: Guess when a gallon of gas will be worth more than a share of General Motors stock!
Some general rules to lay down... I will be calculating the price of GM's stock as of the closing price at any given day, and will compare it against the price posted at the S. Westnedge Road Speedway in Kalamazoo for a gallon of regular unleaded gas at the same time (currently standing at $1.95 a gallon). For those interested in a baseline measurement, General Motors stock is, as I am typing this out, $3.33 a share. One guess per person, and whoever is the closest to the right day I will send a $20 BP gas card (if, like myself, you don't drive... well, it works for getting snacks from their convenience stores as well!). I am posting this on my LiveJournal, Facebook (as it takes my LJ feed), The Corner Keyboard (my economics and politics blog), and MySpace, and, if there is no winning day by the end of 2009, well... I guess America wins, doesn't it?
Best of luck to anyone guessing!
10 November 2008