xcel
02-21-2009, 11:31 AM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg "The lower the price, the market's outlook for the firm is becoming more and more bleak." (detroitnews.com/apps/pbcs.dll/article?AID=/20090221/AUTO01/902210370/1148)
http://www.cleanmpg.com/photos/data/501/GM_Logo2.jpgRobert Snell – Detroit News ( detroitnews.com) – Feb. 20, 2009
The GM moniker may soon be lost to the annals of time...
To think that GM was once a giant that moved an industry :( -- Ed.
DETROIT -- Shares of GM sank to a 74-year low Friday, a fall fueled by a broader market plunge and continued questions about the automaker's viability.
The slide came three days after GM said it could run out of cash next month and requested $16.6 billion in additional federal aid to pay bills, a move that revived calls for GM to file for bankruptcy.
Friday's drop reflects declining investor confidence in GM's restructuring plan and signals concerns about the automaker's long-term survival...
At one point, GM shares fell 24 percent to $1.52 on Friday, the lowest level since July 26, 1934. The drop briefly sent the company's market capitalization below $1 billion, meaning the 100-year-old firm was worth less than $1 billion based on the value of outstanding shares.
Shares rebounded to close at $1.77, an 11.5 percent drop for a company whose shares have fallen 93 percent in the last year. GM nearly ran out of cash late last year before securing a $13.4 billion federal loan package billion to restructure and on Tuesday the automaker said it needs a total of $30 and become profitable again, up from $18 billion in December… http://www.detroitnews.com/apps/pbcs.dll/article?AID=/20090221/AUTO01/902210370/1148
http://www.cleanmpg.com/photos/data/501/GM_Logo2.jpgRobert Snell – Detroit News ( detroitnews.com) – Feb. 20, 2009
The GM moniker may soon be lost to the annals of time...
To think that GM was once a giant that moved an industry :( -- Ed.
DETROIT -- Shares of GM sank to a 74-year low Friday, a fall fueled by a broader market plunge and continued questions about the automaker's viability.
The slide came three days after GM said it could run out of cash next month and requested $16.6 billion in additional federal aid to pay bills, a move that revived calls for GM to file for bankruptcy.
Friday's drop reflects declining investor confidence in GM's restructuring plan and signals concerns about the automaker's long-term survival...
At one point, GM shares fell 24 percent to $1.52 on Friday, the lowest level since July 26, 1934. The drop briefly sent the company's market capitalization below $1 billion, meaning the 100-year-old firm was worth less than $1 billion based on the value of outstanding shares.
Shares rebounded to close at $1.77, an 11.5 percent drop for a company whose shares have fallen 93 percent in the last year. GM nearly ran out of cash late last year before securing a $13.4 billion federal loan package billion to restructure and on Tuesday the automaker said it needs a total of $30 and become profitable again, up from $18 billion in December… http://www.detroitnews.com/apps/pbcs.dll/article?AID=/20090221/AUTO01/902210370/1148