Saturday, February 21, 2009

GM Shares in 2008=$25.54 vs Now=$1.52 - but give them more money to burn...

Amaturo called GM's restructuring plan "worthless" because it doesn't reduce the company's debt, eliminate its legacy costs or make its labor agreements more competitive.

NVDL: GM is amazing. It says 'give us more money' then just continues to operate as though burning money will blow enough smoke into the US economies ass to light it up again. Absolute idiocy. No money into researching or developing cheaper, smaller cars. When did American companies become this stupid?
clipped from
GM Seeks $16 Billion More

NEW YORK – General Motors Corp. shares on Friday tumbled to their lowest level in more than 70 years, pulled down by a drop in the broader markets and continued speculation about the future of the struggling automaker.

GM shares hit a low of $1.52 in early afternoon trading, before rebounding to $1.82 later in the session. The low matched a record set on July 26, 1934, according to the Center for Research in Security Prices at the University of Chicago.

GM shares were worth $3.50 just a month ago and $25.54 a year ago.

Workers assembling GM vehicles are shown at the GM auto assembly plant in
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