Futures are down on word that GM is on the edge of the viability cliff.
What is surprising is that investors view this fact i.e. GM's lack of viability as a surprise. GM traded at $2.20 yesterday.
We will also see another jobless claims report. This is by far the most disheartening aspect of this tenacious recession. Losing one's job is a massive stress for the individual, their families, and our society. When everyone in our society benefits, we benefit.
At the starting bell, the DOW, NASDAQ, and S&P will plunge. Any gains from yesterday will dissolve in an instant. Futures are way down.
Reuters: Futures hit lows after GM comments
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3 comments:
VOLT this! The crooks that run GM have their Tax payer supplied Golden Parachutes on and my guess will now bid farewell to their employees as they exit the plane. GM isn't going to make a safe landing. For the hundreds of thousands of people that will lose their jobs , businesses and communites I feel sorry for all of u. As for the lousy Management of this once proud Company FU! Go ahead and fly away in your Corp. jets you bastards! We'd had been better off giving those billions directly to the employees so they could start a new life.
I would agree, give the money to the workers.
This is the result of the Bush administration. They told everybody no global warming, make bigger cars, there's plenty of cheap oil, it was a 1950s nostalgia again, absolutely no vision or sense of the present reality. Bush was given tax breaks for owning large vehicles, how f'd up is that. GM has such potential and they decided to be stupid and its all bad management and greedy CEOs.
They're still making these huge dino cars and trying to sell them with 0% APR 60 mos. deals. Would u buy one of these dinos with the OIL vultures watching our every move? Would u buy a monster dino car or truck from a company getting ready to die? NOT!!
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