Posted 1/27/2009 18:59 (#586944 - in reply to #586892) Subject: Re: Ford and GM stock
GM has a negative net worth & some unfunded pensions. If it were an ag enterprise, the banker would have had it on the auction block months ago & any guarantors would be facing $37 billion deficiency judgments & after the auction those judgments would most likely increase a couple hundred billion. GM is DEAD...Chrysler & also FORD...the new environmental changes will insure such & while they might subsist another year on the gov't dole....it is over. Even under the so called Govt salvage...a lot of jobs will soon disappear.....part of the waxed toboggan ride I refered to earlier..plus I might add, some board members similar in thought and appearance to the "Lost Patrol" comic strip which used to be in the newspapers.