(I think Kelster may be onto something here ... GM would have a much stronger case if it hadn't gone running to the federal government for help. - promoted by Eric B.)
This morning's Freep ran a story titled, "GM fears U.S. control could hurt in long run; It says influence may harm stocks, competitiveness."
Apparently, GM is "warning that U.S. involvement could have a negative effect in the longer term." As a majority owner in General Motors Corp., the U.S. government could make it difficult to compete with other automakers and could influence business strategy in a way that harms the stock price, the automaker said in a recent regulatory filing.
Seriously? Here's a quick overview of GM stock pricing 2000- present 5/11/2000 - $82.38 5/10/2002 - $66.20 5/12/2004 - $44.03 5/12/2006 - $26.59 5/13/2008 - $20.29 5/13/2009 - $1.61 It would be interesting to learn what, exactly, GM thinks will happen if the government doesn't step in. Isn't this the kind of thinking that got them into trouble in the first place? |
