Two Texas dealers are trying to flip General Motors' low stock price into profits by offering customers 50 shares of GM common stock to buy a new GM vehicle by the end of the month. Will and Corrie Churchill, owners of Frank Kent Motor Co. in Fort Worth, Texas, began their promotion this week and will offer it to the first 100 customers "because this is GM's 100-year anniversary," Will Churchill said. We can't make this up. Seriously, if they'd come to me with this as a joke in a post I would have cut it for being too easy, formulaic and punny. Guess it serves me right. Shown up by reality. I hate it when that happens. Wait, it's happening again — guess what the name of the promotion is. Hit the jump to find out.
We should have seen that coming. But anyway, how will the Churchill brothers "gold standard" plan work? Here's what AN tells us:
"The Churchills bought 5,000 shares of GM stock at the end of last week to begin the promotion while GM's stock price was low. The gift was worth $321 today at GM's closing stock price of $6.43, and the Churchills hope to give customers a return on their investment. "Typically when a customer buys a car and they go to trade it in in two or three years, it has depreciated," Will Churchill said. "Hopefully in two or three years," GM stock "will probably be worth more."We'd heard American retro kitsch was the "in thing" these days, but this is ridiculous. On an unrelated note to Will: If you're saying "Hopefully," in a statement, I wouldn't think you'd need to use "probably." Oh, wait, I see what he's done there. [via Automotive News (sub. req.), Photo Credit: Freakingnews.com]